Having quality financial reporting tools is essential if you want to operate a cash flow positive rental business and improve your portfolio profitability.
Start for freeIf you want to run a cash flow positive rental business you need to know your numbers like the back of your hand. The best way to manage this is to regularly run detailed financial reports. Not only will this help you streamline tax time, but it will also enable you to identify areas of over-spend and make informed decisions for maximizing profitability.
And with modern tools like Landlord Studio running reports is no longer a laborious process. Instantly generate reports when you need them and get on top of your finances without spending thousands of dollars of professional help or hundreds of hours in spreadsheets.
In this episode, we spoke with Grant Dougherty a real estate investor and specialist real estate CPA, and discussed some key real estate financial literacy questions including depreciation, cost segregations, and tax-saving strategies.
Grant Dougherty
Real Estate CPA
"Good record-keeping is essential for tax compliance and can save you a lot of headaches during tax season."
A profit and loss statement summarizes your rental income, expenses, and net operating income over the specified time period.
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Get a quick summary of cash flow broken down by property and highlight your largest expense categories.
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Your real estate trailing 12 months gives you a month-by-month breakdown of your portfolio finances stretching back 12 months.
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Accurately track the miles travelled for your business with Landlord Studio’s built in mileage tracker and claim every mile.
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Know your exact percentage occupancy rate and make sure your properties are performing within industry standards.
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Get a detailed breakdown of rent payments highlighting late and missed payments.
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A rent roll provides landlords with a quick snapshot of tenants and portfolio income. It’s an important document used in real estate transactions, many investors and banks request a rent roll as part of their due diligence process.
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Generate a supplier expense report to easily identify contractors you need to send a 1099-NEC.
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