The first chapter of the book will be on purchasing your first home. I’ll go over some of the important things to know about how to determine what price you can afford by looking at your income and going from the monthly payment you can afford to the total price of the home. This will help you narrow your search down based on knowing the total price of the home you can afford. I will also talk about some important things you should know about inspection – what the inspector knows and what he or she doesn’t know. We’ll set up a template in Microsoft Excel that will enable you to do the math on the costs and then I will show you how to record the purchase of your home in QuickBooks. This will of course include how to set the property up on a set of books and how to track any improvements you make to the property.
In Chapter 2 we will start to see what this looks like in the context of renting out that home.