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Simplifying Commercial Real Estate Accounting for Your

Details: Real Estate Held for Rental Income. For real estate held or owned for rental income, the Profit and Loss is the focus of the financial statements. The Profit and Loss Accounts should be broken down into three key sections: Revenue; Cost of Goods Sold (COGS) Operating Costs; Essentially, revenue is the rent you collect from your income-producing

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Pros and Cons of Multifamily Housing to Consider Before

Details: What are the Steps in the Purchasing Process? - wiseGEEK

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7 Steps to Owning your Own Commercial Real Estate

Details: Commercial real estate is a comprehensive term. A few examples of commercial real estate are industrial complexes, warehouses, retail shops, office buildings, huge apartment buildings to name just a few. Do your research and understand the characteristics of each asset type including:

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Setting up a Chart of Accounts for your Real Estate

Details: Amount earned with rental properties: 5000 - 5999: Cost of Goods & Services Sold (Expenses) Directly related to the sale of your service (not typically used in a service business) 6000 - 7999: Expenses: Amount spent to run your real estate business, including maintenance of …

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Top 8 Hottest Trends in Multifamily Housing for Millennials

Details: More Trends to Consider. Sustainability – As a generation, millennials focus on the environment and sustainability and this extends to housing. Multifamily developments that focus on solar power are a plus. But it goes even deeper to the materials selected for flooring, glue, and reclaimed materials, as well as energy efficient appliances.

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How to Record the Purchase of A Fixed Asset/Property

Details: Line 4-7: Prorations of rent and/or operational expenses or CAM (Common Area Maintenance) are usually part of a commercial real estate transaction. These amounts are normally portions of rent that are “given” to you in the transaction. Typically, it reduces your liability against the asset. This can go into Accounts Receivable.

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How to Set Up a Chart of Accounts For a Real Estate …

Details: Like you previously did, to add additional subaccounts for rental income, click Account at the bottom left hand of the Chart of Accounts screen, select New and begin. When you are on the Add New Account screen, select Income and click Continue. As before, follow the same unique numbering schema for each property.

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New $500,000 Threshold on Commercial Real Estate …

Details: Qualifying business loans must be less than $1,000,000 and not rely on rental income or sale of the property as the primary source of repayment for the loan secured by the commercial real estate. As you would expect, financial institutions are still required to document a reasonable and appropriate evaluation of the property.

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Mobile Home Parks: How to Invest in a Cash-Flow Monster

Details: Part of this resilience may be attributed to EGI’s large stake in mobile home parks. Mobile home parks benefit from a process similar to Trickle Down Theory. The idea is that during tough economic times, people may downgrade their homes. For instance, a person in a $1MM home goes to a $500k one, or a person in a $500k home goes to a $250k one

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Commercial Real Estate and Solar Tax Credits

Details: Commercial and industrial property owners are eligible for a generous federal tax credit program. Through the end of 2019, your organization can claim 30% of the installation costs as a tax credit. In 2020, you’ll be able to deduct 26% of the cost of the system from your taxes. However, the percentage declines from then on—so it’s best to

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What Are Land or Ground Leases and How Do They Work

Details: The tenant is able to build their own improvements or grow crops on the rented land while the landowner collects rent each month. The land lease or ground lease lasts generally lasts between 50 and 99 years. Land leases are beneficial in many commercial real estate deals.

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Setting up a Chart of Accounts for a Commercial Real

Details: Our previous chart of accounts, which you can find in the article, How to Set Up a Chart of Accounts for a Real Estate Company in QBO, focused more heavily on the accounts needed to manage residential real estate. Our new chart of accounts addresses the need for tracking expense types commonly associated with triple-net leases, including Common

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5 Things to Consider When Buying Commercial Property

Details: Decide Why You Want to Invest in Commercial Real Estate. There are many reasons to get into commercial real estate. You may have your own business, and you want to buy a place instead of renting. If you can also rent out other units in that building to other businesses, that would be even better.

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5 Essential Types of Records for Managing Commercial Real

Details: Keeping your paperwork organized will make your life as a property manager or owner so much easier! Here’s an overview of the most essential records for any commercial real estate owner. Know where these documents are at all times, and you’ll be much better equipped to manage your CRE business. 1. Financial Records

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