QuickBooks Question on 5mWAP Investor Books

Quick Question: I'm a current user of the 5m and was wondering how you handle using Lines of Credit.

Do you tack it to a mortgage RE area or seperate it?

I have 1 LOC that has collateral and other unsecured LOC's.

Some interest only, others P/I payments with no 1098's!

I think I have to do the monthy P/I tracking.
The interest only should be easy.

Ron Harris
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ANSWER: Great question Ron; however, we need a tad bit more info to get it all right.

For example, if your LOC is secured with a piece of real estate... then i would flag it to that property...
Make it a sub-account of the lender involved, and using the naming format found in your manual, include the property... ultimately, every transaction in this LOC will be flagged to that property.

Example 2,... if you have a LOC that is not secured by a piece of real estate.. simply make the borrower to be included in the naming format found in your manual (sorry about the grammar there)... you can then select to use any interest to manually flag it to the property or entity involved.

Keep On Cranking It Ron...

Mike Butler


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To Get Your Own 5M WAP Wealth Autopilot System, the Only Complete System for Investors using QuickBooks Pro.. visit http://www.5mWAP.com

UPDATE for Monday evening

Just got off the phone with Don Beck..

some of the things he will cover...

Get Your pen out.

10 Ways To Fill Vacancies FAST

10 Ways To Increase Cash Flow

10 Ways to Increase Value

4 Biggest Mistakes Investors Make

and more

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See You On The Call

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BIG Question and Answer Session
Plus You will Discover:

- How to find the ideal tenant fast and for almost no cost
- How to keep that ideal tenant happy and not thinking of moving
- Strong lease clauses designed by a landlord (Don) for landlords
- Effective screening techniques
- Biggest mistakes made by landlords
- Little-known ways to increase cash flow without raising rents
- Inexpensive improvements that increase cash flow and property value
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- How to get problem tenants to move without evicting
- How to earn a full-time income as a part-time landlord


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See Ya on the Call

Mike Butler

P.S. Don Beck is having a NO Holds Barred
Question and Answer Session immediately

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with Question and Answer Session

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=============================


Some More about Don Beck



> Don Beck is a real-life real estate investor
> who specializes in purchasing, renovating,
> and managing apartment buildings.
>
> He is a sought-after speaker who has taught
> thousands of landlords throughout the country,
> his tried and proven landlording techniques.
>
> Don is a licensed Real Estate Broker, GRI,
> lecturer, and consultant on property management issues.
>
> With a degree in Education and a
> Masters Degree in Media, he retired from a
> tenured teaching position to become a
> full time investor and manager of his
> growing real estate portfolio.
>
> Don Beck has been featured on
> - many radio shows,
> - Smart Money Magazine,
> - rated the number #1 speaker, twice,
> by investors attending the National REIA Cruise.
>
> If you are a landlord
> or are thinking about becoming one
> or thinking about getting out of landlording,
> You MUST check out Don's simple passive income source
> on Monday evening.



== RESERVE Your Seat Now =======
Cruise Control Landlording with Don Beck
with Question and Answer Session

http://tinyurl.com/8pbd4b <==== Register Now
=============================








>>>> LAUGH Right HERE with Don, Debbie, and Mike
>
> - just a couple of years ago, I invited Don and his
> wife Debbie to my home for the Kentucky Derby weekend.
> Don said he was gonna "drive" and not fly because
> he is a tightwad investor... OK.. sounds familiar..
>
> This guy looked like a huge country music star
> pulling up in front of my home. A 400ft Rock Star
> Motor Home with satellite dish, internet, gps tracking
> and plasma tvs on almost every wall...
>
> electronic gadgets everywhere including an
> extra vehicle remote control thingy in his "control tower"
> Yup, this guy "pulls another vehicle AND a Motorcycle
> BEHIND his huge motor home."
>
> My neighbors went goo goo eyed and wanted to
> call all of the local TV stations trying to find out
> who had arrived in our neighborhood.
>
> Don and his wife Debbie navigated this huge
> land barge with 3 trailers right into my drive just
> as snug as a bug in a rug...
> They had their bedroom in my driveway!
>
> Here's the neat part... an absolute beautiful
> Kentucky Oaks and Kentucky Derby Day for
> Don and Debbie and I was able to get them
> almost "Finish Line" Box Seats for both days.
>
> This was better than hitting the lottery as
> Don and Debbie love the horses! We had a blast
> on that first Saturday in May and I just wanted
> to share it with you... and so be careful....
>
> BEWARE and Be Careful and SMILE if you invite
> The Don Beck Troupe Duo to your homestead,
> you might just get a full broadway production
> entourage.... and you will smile and laugh
> many times over... Thanks Don and Debbie.

== RESERVE Your Seat Now =======
Cruise Control Landlording with Don Beck
with Question and Answer Session

http://tinyurl.com/8pbd4b <==== Register Now
=============================

Reggie Brooks Fortunes on Abandoned Properties

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