“The #1 reason to work in real estate is to build wealth. One of the best ways to build wealth is to reduce that tax bill.”
A bookkeeper is not:
Bookkeepers do not do tax filings.
Bookkeepers do not create your LLCs.
Bookkeepers do not set up bank accounts.
A bookkeeper is going to let you sleep at night, while scaling and being more profitable in your business.
How do we do that?
**Leave spreadsheet land**
Most businesses create spreadsheets to track income, expenses, and receipts, for flips, rentals and their multifamily.
It works, but it’s not sustainable.
It’s not scalable.
At the end of each month, a P&L and balance sheet are created to have an accurate pulse on the business.
Having the ability to look forward and project the correct decisions to make is the closest thing to a crystal ball as possible.
In spreadsheet land income and expenses are input by hand. Quickbooks automates the entry.
A bookkeeper’s job is to categorize the transactions correctly.
The #1 reason to work in real estate is to build wealth. One of the best ways to build wealth is to reduce that tax bill.
Categorizing transactions incorrectly results in more taxes paid.
What else can a bookkeeper do?
We catch mistakes in real time.
Real life example:
Tom is buying a house. He wisely opts to pay for a hold open policy for $400. This is less expensive than paying full title fees when he sells the house.
Tom finishes the houses, lists it, and receives an offer. Tom gets so excited by the price, he disregards a few small details.
At closing Tom ends up paying full title fees.
Tom closed the deal with the new buyer at a different title company. This happens more often than we’d like to see. These fees alone often pay for our bookkeeping service fee.
The REI Bookkeepers only does bookkeeping for real estate investors.
We specialize in rentals, multifamily, flips, wholesale, and real estate agents.
All we do is real estate bookkeeping.
And there’s a very particular way we categorize everything and itemize expenses and income for it to be accurate.
For a couple of hundred dollars a month, you could just have somebody third party that does full time.
We’re only a phone call away. So if you guys want to work with us, give us a call.
My number is (928) 293-0794.
My email is firstname.lastname@example.org