Bookkeeping & Real Estate Investing

5 Replies

Are you guys using a bookkeeper? At what point should someone hire a bookkeeper for their REI investments?

It depends on your goals

If you get to the point where you feel like you are a book keeper and no longer an investor, then get a book keeper. 

If you get to that point and you are okay with being a book keeper because you have enough of what you want, then keep doing the books yourself. 

@Jess White How much time is it taking you each month to do the books. I think you just need to assess if you can get a better return with your time. If your spending 10-30 hours per month in the books I would just pay the $400-$800 a month to have someone do it.

@Jess White

I don't think there is a point. Some investors never hire a bookkeeper and do just fine using technology. Others hire a bookkeeper from day one because either they really hate bookkeeping or they figure out (correctly) that they could use their time better doing something more productive.