All Forum Posts by: Richard Boyd

@Erin Feinerman If your father is anything like my family change can be difficult. I would recommend you still use QuickBooks desktop which it sounds like you already use but implement a few changes to take full advantage of it. For instance, you can send online invoices in QuickBooks desktop, and maybe outsource your bookkeeping to a professional who will enter it in monthly instead of annually before tax time.

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Chicago, Illinois

@Jay Thomas I am a CFO for multiple real estate/construction companies. We use both QuickBooks online and Desktop and there are pros/cons to each. For QB desktop there usually isn't any extra charge to connect your bank account feeds to QuickBooks Desktop however sometimes (like my chase credit card) the bank charges you an extra fee.

Shoot me a DM if you have any additional questions.

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Hey Thomas,

We use QuickBooks Online for our clients. I am interested to know more about your company and how you have your properties set up. Are they all under 1 LLC or separate ones? If they are under one LLC you shouldn't need to buy multiple company subscriptions.

I would be happy to chat over the phone if you shoot me a DM.

1 Vote

@Kyle Price Hey Kyle, Are you still looking for a real estate bookkeeper?

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Upstate New York, New York

@Eric Sebast Are you still looking for a part time bookkeeper? If so, shoot me a DM. I would be happy to help.

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Upstate New York, New York

Hey Ben,

I just wanted to check and see how your bookkeeping is going?

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Richmond, Virginia

Quote from @John Grinston:

Quote from @Patti Robertson:

Hi there. I'm also in Hampton Roads and an investor. I hate to be discouraging, but I'm not sure this will be as easy as you think. Norfolk is strict on zoning so first you will have to find a lot in a neighborhood that will allow for your multi. I've been working on one myself and we had a lot in a neighborhood that allows multis and is really deep. The city said my lot isn't wide enough for what they will allow, although it is wide enough for a single family. We got luck and the house next door went up for sale, so we bought it. A lot of ducks need to be in a row to accomplish your goal. I'm not saying it's not possible, but am just suggesting you also look for buildings that are already build that you can buy. Not only will your numbers look better, it will be much easier to achieve.

Thanks ,I’m looking in the Williamsburg area.There’s tons of multi units for sale in Norfolk but not in Williamsburg.Does Williamsburg changed anything?

Hey John, I am the CFO for a few construction companies. One in the Williamsburg area.

As many people mentioned developing a multifamily unit is a lengthy and expensive project and doing so with your VA loan might be difficult but there are some things you can do now to get a better understanding of your project. @Barry Ruby mentioned running a pro forma analysis to estimate the total project costs. Have you thought about buying a multifamily unit that would certainly save you time?

I would recommend trying to buy them off market. Shoot me a DM and we can talk more about what you are looking for.

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Norfolk, Virginia

Quote from @Bruce Woodruff:

Quote from @Richard Boyd:

You might consider opening an LLC so that you can protect your personal assets in the event that something happens.

Not for a single property or even a few. This has been discussed dozens of times.....Just having adequate insurance is generally considered enough.

Yeah you are probably right but for 15-30 minutes to fill out an application with the Secretary of State and $50-$100 bucks it seems like a pretty cheap way to cover all your bases.

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Quote from @Jay Hinrichs:

forester (1) , full charge book keeper (1) , admin staff (1) .. once that was completed and we could do volume then we hired Telemarketers ( 3) that worked in my office in the evenings.

timber leads are not super plentiful so my partner and I worked the leads with him doing most of it. My job was the money and finances so we could buy said land and timber.

That is really unique! How did you get into timber?

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Norfolk, Virginia

Are you looking for a local lender or a national lender?

I am a CFO with clients down in the Williamsburg VA/Hampton Rds area and may have contacts if you are interested.

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Richmond, Virginia

All Forum Posts by: Richard Boyd

Richard Boyd has started 3 posts and replied 31 times.

Post: Best Multi LLC accounting software

Post: QuickBooks Desktop - Bank Feeds

Post: QuickBooks Online Questions

Post: Real Estate Bookkeeper Needed

Post: VERY part time bookkeeper, where do I look?

Post: Bookkeeper in Virginia

Post: I Would like information about cost of new construction.

Post: Do I need to start a business

Post: What was the first full-time role you hired for your company?

Post: Small industrial-focused Lenders in Richmond, VA?