All Forum Posts by: Tom B

I think class will only separate my report by property.  Did you mean something else?

Hi Group,

So I'm coming up to speed on quickbooks reports.  I was shocked to find out (I'm not an accountant) that loan principal is not part of a P&L statement.  I looked around the web and found out why.  I understand why now and that is not in question.

But what is in question is what kind of report can I run to see this information so I can plan rent increases etc..?  The type of report I need or need to create is just like a P&L, everything the P&L has but with an extra line item for loan principal.

How are you pros doing this?  Thanks in advance.

Do you mean it would terminate October 31st?

For example, notice given September 17th.  30 day notice required.  Last day would be October 31?

I take it the term month-to-month infers a calendar month?

Hi Group,

If you are on a month to month lease for an office space and the lease requires a 30 day notice to end the tenancy, how does it work in Florida if said notice is given during the middle of a month?

Thanks.

Hi Group,

I'm happy to report I've taken the plunge in commercial real estate. I found 2 office condos that I plan to use as rental property, both have tenants.

I made an offer last month and it was accepted. I close in about 3 weeks. I need to start reconciling monies that have been flying around. I have quickbooks which I use for my main business, but was having a little trouble thinking through how I should be setting this up.

To give you an overview, I setup a new LLC that will own both properties. I also setup a new bank account for this LLC.

I would like to be able to track each property individually for reporting purposes. For example, I want to know how each on of my units is doing as an investment.

I was wondering if anyone can share an online guide or other information on setting up a chart of accounts that is suitable for landlords. In a way I need to track 3 entities.

Thanks.

How do you figure cash flow when you are taking a loan out on a commercial property? Is there a standard that says you should figure the cash flow with a certain percentage down payment or with 0 down?

If a deal can't be struck, the tenant moves out. ??

What about renting it out as a large conference room for all the other offices in the building?

I know in residential real estate, certain things are sometimes customary such as a 50/50 split on title insurance in the closing costs.

What is generally to be considered customary on a commercial property?

I am actually buying to units, they are $75,000 each and are next to each other so they could be opened up into one larger unit. I am wanting to open a coworking office with a technology niche. Hoping to fill the office with designers, programmers, computer repair, consultants, etc..