Behind the Numbers: How I track my rental property finances

⭐ Join Rental Property Mastery, my coaching & learning community:

🎙️ Episode 334 – Join Coach Carson and Michael Zuber as they unveil the keys to rental property financial mastery. Discover the significance of meticulous record-keeping, strategic KPI monitoring, and cash flow management, empowering you to navigate the real estate landscape with confidence and secure long-term success in your investments.

▶️ Next Video: How Much Tax I Paid When I Sold a Rental Property

🎬 Timestamps:
0:00 - Being NEO in the Matrix
1:39 - Why is Bookkeeping so important?
3:08 - 1. It's the law!
7:37 - 2. Your Key Performance Indicators
9:27 - Profit is NOT cashflow
13:14 - Playing strategic chess
16:05 - Be a better future investor
18:10 - How much taxes I paid when I sold my rental

🔗 Coach Carson's recommended accounting software:

🔗 Connect with Michael Zuber

________________________________________
⚒️ Get my FREE Real Estate Investor Toolkit:

• 30 Days to a Better Rental Investor
• Creative Financing for Real Estate Investors

📚 My Books:

💰 DealMachine - Software to help you buy more real estate deals:

✅ Subscribe for more videos about real estate investing:

👋 Connect with me:

________________________________________

[jimross]

You should think two or maybe three times before selling an underperforming property. If you are really capturing all your cash flow variables you may find you are not losing as much as you believe. This is especially true with building depreciation and the paper losses it generates. Also, selling that property will be subject to recapture and possibly capital gain taxes. Better to choose your next purchase first and use the 1031 exchange rule to preserve your equity.

[shsu]

Oh.. I am a new landlord, and really needed this info. Thank you, coach!

[themultifamilywealthpodcast]

Brilliant video! Accurate bookkeeping is crucial for rental investors to prevent tax and business problems. For those keen on multifamily investing, our channel is a treasure trove of actionable advice and success stories.

[hit-the-webmarketing]

Coach Carson you’re very articulate which lends itself to really understanding this stuff. thank you.

[FinancialFreedomLifestyle]

Cashflow is all that matters. I don't understand why people include principle pay down and appreciation into there cashflow numbers. If you can't take it out to buy groceries today it doesn't count. New subscriber and loving the content. Keep it up.

[paulnovak]

You did it again with another great video! I talk constantly about the importance of knowing and running your numbers. I come from the world of manufacturing and now I am in Supply Chain within manufacturing. KPI’s and data are king in my world, and I have taken as much knowledge as I can from work and applied it in my business. Some of my KPI’s I track are cash on cash return as a business and per property, monthly cashflow % vs. monthly cashflow potential, cashflow potential with mortgages vs. cashflow potential with free and clear properties, actual vs potential cashflow per property, income, expenses, ROE on buy box properties, % My Average Offer vs. List Price, % Sold vs. List Price, % My Offers vs. Sold Price, and the list goes on and on. I really like how you broke things down in this video, thanks for the content.

[laurasamaniego]

Great information. Always looking forward to learn from you guys.
Thank you Mike and Coach Carson's for keeping educating us .
So much appreciated.

[seanlambert]

I track each property in an Excel spreadsheet, so video gives me some great ideas on combining the data from all of the property spreadsheets into a master spreadsheet that I can report more holistically, instead of by property. I see pivot tables and graphs in my future! Great video! thank you!

[TwoSideHustles]

Thank you for the video. I have been growing pretty fast, but this has got me thinking about pruning some of some the lesser performers out of my portfolio.

[thomassawyerjr]

Would you finance your own brrrr if possible? My house is paid off I have 1 rental that I just bought. Is my next step taking out home equity loan and then paying it off with the brrrr

[KeepTheChange]

Great video, would love nothing more than to buy more rentals. Currently living overseas so it's bit more challenging

[kennyvilayvong]

Can we get this spreadsheet somewhere?

[jccopeland]

Hey Coach. Love the video! Does the 15% expenses on your properties include improvements or is that in another category?

[lifeforgod]

Bought a property at 685k, sold at 750k a year later. Everyone though i made 65K. Nope!! Between closing costs, commissions and repairs, I barely broke even. I carried forward a loss on tax purposes

[Akabogu]

For quick books, is this a paid subscription you use to track your rentals ?

[freedomworks]

If all else fails .... you can move to Santa Cruz and live in a van 😂 ❤

[MichaelHinnen]

So do you keep EVERY receipt from each property? Does that go into your quick books?

[SC-shux]

Do realestate investors have kids? Having a baby will never look good on a spreadsheet. Is the realestate investor destined to go extinct? 🦖

[dropoutandretireearly]

Coach do you really pay a whopping $828 a month for property management ? I do clean and sober living houses and they charge me zero. Lucky me !!!! LOL !!!!

[jeya]

the other guy is annoying, he interrupt Carson to speak