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Bookkeeping For Real Estate Agents & Landlords
Alright let’s face it: bookkeeping is probably one of the least enjoyable activities when it comes to running a successful business or brokerage.
However, it doesn’t matter if you come from an accounting/finance background or just dabble in real estate as a part-time landlord/house flipper, you need to have your accounts in order.
Bookkeeping, therefore, is a necessary part of every successful real estate agent or hustler’s routine, and should not be overlooked!
Here are a few quick tips for bookkeeping for real estate agents or anyone involved in real estate in some form.
Tip 1 – Keep Accounts Separate
It doesn’t matter if you own a single home and operate a small rental operation or run a serious real estate business, you need to diligently track your finances and keep personal expenses separate from business expenses.
Moreover, as BiggerPockets.com suggests, it can be wise to even have separate bank accounts/savings/credit cards for each rental property you own until you reach a certain scale where having one centralized management account makes more sense.
Tip 2 – Itemize & Track Everything
No expense is too small to be tracked if you ask me. Ideally, you should be tracking every single expense you incur as a real estate agent or landlord ... more

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