Tracking financials in wholesaling

4 Replies

Hello all! I am new to BP and to REI. Although I won't be getting started for a few months now, I am working to get a stable ground work for what will eventually (hopefully) be my RE business.

I know of podio as a great CRM and of odesk as a good place to find VA's. I am familiar with listsource as a popular place to find leads.... now I am trying to figure out finanacials. How do you track all of your wholesaling expenses amd profits? do you use a bookkeeper to do all of this? What do you like about your system and what do you dislike about your system? Thanks in advance for any responses!

sounds like you're on the right track really sounds like a fast track if you know what I mean yeah I'm in the process I'm getting everything set up to also. maybe weekend exchange ideas sometime

I would suggest ONE REAL simple spreadsheet to start off for all your tracking needs and not just your finances. Everyone has their own little preferences when tracking things such as expenses, leads, offers, etc. You'll find yourself making tons of tweaks and changes to find what works for you so don't pay for anything until you know exactly what youre doing.

I agree with Luis. I, personally, use Quickbooks to keep track of all my expenses, etc. You would be surprised how generous the IRS is with business write-offs ;). 

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