Real Estate Accounting

Another Nerd Enterprises, Inc. Property

Archive for March 2010

This Week’s Dream Home

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Thinking big and dreaming big is how you get into something like this. Of course you should run the numbers before you buy and make sure it fits your budget. This pad is on the market for a mere $13,500,000.  Your 20% down payment would be $2.7MM. This leaves you with 10.8MM Financed. The monthly Payment at 6.5% on a 30 year principal and interest is only $68,263.35. So based on conventional thinking, your income in order to afford this has to be approx 4X that amount, or $273,053.39/month. This means you need to be comfortable earning $3.3MM annually to think about a home like this and you had better be able to maintain that level of income on a consistent basis because these homes do not sell fast at these prices. The photo links to the website we grabbed it from (www.dreamhomes.us)

DreamHomes.US

Nice huh?

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Written by Seth David

March 26, 2010 at 2:16 pm

Posted in Dream Homes

Ask us about pre-ordering

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Pre-order your Real Estate Accounting E-Workbook and I will include  a free 1 hour live demo to boot.

e-mail for details – classes@nerdenterprises.com

Written by Seth David

March 26, 2010 at 1:50 pm

Posted in E-book Updates

The Outline So Far

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This will likely change, but this is to give you an idea of what we are developing as we develop it. Your comments and suggestions for what you might like to see covered here are very welcome!

 

Table of Contents 

1. 

About Seth David

2. 

Chapter 1 – How to get into a home you can’t afford

3. 

Chapter 2 – Rental Real Estate

Buying Your Rental Property

Setting Up Your Company File In QuickBooks

Recording your purchase in QuickBooks

Setting up and recording Security deposit and 1st month’s rent

Setting up, recording, and memorizing rent going forward

Late Rents

Additional Security Deposits

How to handle a move-out

Calculating, recording, and refunding the security deposit

4.

Chapter 3 – Property Management

Setting Up Your Company File

Setting up your Properties

Keeping track of Payables by property

5.

Chapter 4 – Construction Accounting

6.

Chapter 5 – Selling Your Property

Your Basis

Recording the sale in QuickBooks

   

Written by Seth David

March 18, 2010 at 6:10 pm

The QuickBooks For Real Estate E-workbook project has resumed!

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We have officially resumed this project! There have been many demands for real estate accounting / QuickBooks instruction. You can also get a great deal of information on how to do things in QuickBooks at our sister Blog – http://www.quickbooksnerd.com. We’ll post up the current outline for the E-Workbook shortly.

Written by Seth David

March 18, 2010 at 5:39 pm

Posted in E-book Updates