All Forum Posts by: Landon Mizuguchi

Hey @Tyler Gilpin, once you have more than a few properties, you'll want to consider software. But, excel is totally fine in the beginning.

We use QuickBooks Online exclusively for all of our REI Clients. I use it for my personal portfolio as well. We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.

The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

Something else to keep in mind is your entity structure and how your entities file tax returns. As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription. If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.

If you want to discuss any of this further, I'm happy to answer questions and help walk you through it.

Best of luck!

 I made a tracker based on the IRS audit guide. Its free on our site, but happy to share a link if anyone is interested 

Just hop on the ole Google and start interviewing CPAs and their knowledge in Real Estate. Word of advice, don't always listen to strangers advice on who they go with. I've had run ins with people on here telling me to use "their" contractor.

Make a couple phone calls, turns out the contractor is their son who's done about 2 jobs in a year. 

My 2 cents