How I’m Quietly Turning 4 Rental Properties into a Passive Income Goldmine While Crushing My 9-5 Grind
Mike:
So at my stage, which is really only four deals at this point are definitely different than someone who might have 20 or a hundred or whatever. But the one thing that seems to be my biggest pain point is bookkeeping and just keeping track of the bills and the finances and all that stuff, especially once you have more than one property. And the short-term rental that I have, that adds to it a lot because a lot more there. That said for me it’s Excel sheets and I just have designated sheet that has everything broken down by property. Every bill that needs to be paid as many of them as humanly possible are set to autopay and paperless billing. And the beginning, the first week of every month, I just hit that sheet and I go right down the line, make sure everything’s covered there. Once that’s done, I have an attached sheet that is my monthly income expenses report that I create and I send it to my CPA at the end of the year.
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