Bookkeeping
When you’re first starting off in this business, you’re probably going to do bookkeeping on your own, which is fine. You want to keep track of all your income and all your expenses. It really comes down to being that simplistic.
The challenge comes in where you have multiple properties and you need a way to keep everything itemized by property, and you also need to have reporting because you don’t just own one or two properties now. Maybe you own ten properties. You need to know what your position is at any given moment. What is your spread between income and expenses?
When you’re first starting off, one of the easiest systems to purchase and implement is QuickBooks. It’s an industry standard. All the tax accountants recognize it. It’s in the U.S. and Canada, so you can use it in both countries. Once you learn it, it is quite easy to use.
Learn more by watching Gary in the video below:
https://winrealtyadvisors.lpages.co/trp-12/
THEN…
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