All Forum Posts by: Nicole Heasley Beitenman

Hey Massiel! I'm an accountant and bookkeeper specializing in RE. 

It really depends on your time and knowledge. If you set up a solid automated system off the bat, you can probably self-manage a good number of properties before needing to outsource help. Some find Excel works for them for their first few properties, but since there's free bookkeeping software out there, I recommend setting up an automated bookkeeping system from the start. If you don't know how to do that, I recommend consulting a professional to help you get your software set up and maybe provide some basic training. And hopefully, once you do scale to that level where you need to bring in a third party, you already have someone you know, like, and trust. 

But what it really comes down to is whether or not you have the time to dedicate to bookkeeping each week. If you find yourself constantly falling weeks or months behind because you're too busy to sit down and manage your books each week, that's the clue it's time to look for help.

Separating the business and personal finances by using a business bank account and business credit card is the #1 thing you can do to make bookkeeping easier. Great tips.

You'll be fine. Plenty of children and pets live in town homes, duplexes, apartments, etc. People tend to forget that when they try to use kids/pets as the excuse not to house hack. 

I house hacked a SFH for 3 years. By year 3, I was also tired of it. When I first started, I was fresh out of college and coming from a 700 SF apartment to a 1,400 SF house. It felt like there was plenty of space for everyone. By the end, I was also tired of having roommates. I wasn't in my early-mid 20's anymore, and I just didn't want to share anymore. I ended up moving in with my now husband, but I would have started looking for a duplex if he wasn't in the picture.

Hey Daniel! Congratulations on the new venture. Fellow RE accountant here--let me know if I can offer any advice or assistance.

 I'll second Wave. I still use it for my own bookkeeping.

@Max Emory has a list of referrals for tax preparers. I can help with the bookkeeping and accounting, but I don't do tax prep.

You can always start your own! I started one in January 2020, and it's still going strong. It was one of the best financial decisions I ever made. If the local brewery you bookkeep for has space, that's a perfect spot for a meetup.

To bolster your accounting knowledge, I recommend accountingcoach.com.

Welcome! I encourage you to check out the events section of BP and meetup.com for local meetups. That's the best way to meet people in your area. 

As for accounting knowledge, are you looking to expand your knowledge of accounting in general or specifically accounting for REI? I'm an accountant by degree and worked for a decade in commercial RE in addition to managing my own properties. I'm happy to help with any bookkeeping or accounting struggles. I now operate my own bookkeeping and accounting firm.

You've gotten some great responses from locals! I recommend also going to a local REI meetup. You'll either meet someone who does student rentals or someone who knows someone who does student rentals.