All Forum Posts by: Rachel Mazzanti

Hello, My husband and I are starting a property management company in the Jupiter, FL area. We have one owner and one tenant so far and we are currently setting up Buildium. I am just curious how most structure their payment process when receiving and paying rental payments, vender payments, etc. We do have a business checking and savings account setup, but do all rental payments go into the same account generally? I am wondering if some of you get the owners account info to setup in the software to have their rental payments go directly in and vender payments coming directly out? Or is it necessary to receive rental payments and pay vender payments out of our property management account?

I am interested in buying a two family house using seller financing. Any advice about how to find a list of deals?

Hey BP!

I'm diving into QuickBooks Online for the first time and could use some guidance. To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ugh), so this is all pretty new to me.

Here’s my current setup:

I’ve had a property management company using AppFolio to handle the heavy lifting – rent collection, owner distributions, expenses, and the whole shebang. They give me an Owner Statement each month with all the details like Beginning Balance, Cash In, Cash Out, Owner Disbursements, Ending Cash Balance, Property Reserve, and Net Owner Funds.

It's super helpful, but it doesn't cover all expenses, and I need to get all this info into QuickBooks. I have a checking account and a credit card under my LLC. The loan for my property is in my name, but the deed is in the LLC. While I only have one LLC right now, I plan to expand to multiple LLCs (one for each property).

Here’s where I need your help:

1. How should I set up my account to reflect all the real estate activities like rental income, expenses, and distributions?
2. My Owner Disbursements aren’t the total rent amount because of the expenses the property management company handles. What’s the best way to track this in QuickBooks?
3. Has anyone successfully integrated AppFolio reports with QuickBooks? If yes, how did you do it?
4. What’s the best way to set up QuickBooks to make handling multiple LLCs easier in the future?

Any advice, templates, or resources you can share would be greatly appreciated! Thanks a ton in advance for your help!

My accountant does not typically deal with real estate investors, so she does not have a standard spreadsheet available. Tempted to hire a bookkeeper that deals with real estate investors, however I only have four doors currently and I don’t think it’s necessary.  

Hi - I need help! I have grown my small portfolio to 6 properties (13 doors) and been using DoorLoop to manage the properties myself. I'm having a had time keeping up with the bookkeeping even though most of the income/expenses are automated. I still have to use a separate software (Stessa) to categorize and align income & expenses and then prep for year end Schedule E. I need to stay on top of the bookkeeping monthly so year-end is not so painful as it always is. I have a mix of short-term and long-term rental which makes it maddening to track. Any suggestions for affordable bookkeeping services to clean up my books and either run them monthly or get me setup correctly?

Im looking for a real estate investor-friendly bookkeeper -  Does anyone have any recommendations?