A landlord told me: “My rentals are profitable. I have money left in the bank every month.” But c...A landlord told me: “My rentals are profitable. I have money left in the bank every month.” But c...
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Priyanka Ganguly
• 1d
A landlord told me:
“My rentals are profitable. I have money left in the bank every month.”
But cash left in the bank is not always profit.
I asked 3 questions:
• How much of your mortgage payment is principal? • Are property improvements separated from repairs? • Can you see a P&L for each property?
He couldn't answer any of them.
That's the problem.
Owning 5 profitable-looking properties means very little if your books can't tell you which property is actually making money.
Real estate investors spend months finding the right property.
But sometimes spend almost no time checking the numbers after buying it.
Buying the property builds the portfolio. Knowing the numbers protects it.
#RealEstateInvesting #Bookkeeping #RentalProperty
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