I sent a simple message out on facebook and twitter just a few minutes ago about a great new tool for real estate investors and it is absolutely FREE...
check out
http://www.PostLets.com
after i sent this out.. i got a reply from Paul Straus, who added this incredible list.. I spot checked some of them and they are working.. pretty neat.
I'll ad it to my list of similar sites- and if anyone wants to know how in "this market" I'm filling vacancies in three days, and sell them in under 20 days-- it's because my properties are constantly up on ALL of these
-------
1americamall.com/
Adflakes.com
Adhysteria.com
adlandpro.com/
adlot.net/
adpost.com
adquest3d.com/
backpage.com
bestmall.com/l
chooseyouritem.com
classified2000.net/
ClassifiedAds.com
classifieds.myspace.com
classifieds.yahoo.com/
ClassifiedsForFree.com
craigslist.org
Craigslist.org
domesticsale.com
effectlocal.com/
epage.com
epage.com/
expo.live.com
FindIt.com.au
free-advertising-blog.com/index.php
FreeAdvertisingForum.com
GoForAds.com
google.com/base/
Gumtree.com
highlandclassifieds.com/
homeworkads.com/
InetGiant.com
InetGiant.com
interking.com/
IQZone.com
mocca.com/
Oddbark.com
oodle.com
postaroo.com
pressmania.com/
recycler.com
sell.com
theadnet.com/
TheFlyer.com
usfreeads.com
wikalo.com/
Fill Em Fast, Sell Em Fast
Wednesday, February 25, 2009
QuickBooks Questions
Mike,
I bought your Investor and Tenant Books last year (the 5mWAP system using QuickBooks Pro... http://www.5mWAP.com ).
This is one of the best products I've implemented in my real estate system.!
I've thoroughly enjoyed using it this year in our business.
My questions are the following:
1. In following your All Star Plan in your book and the Christmas Credit, how am I supposed to categorize the credits that I give to tenants on the 13th, 25th, and 37th months?
A. You could simply enter "All Star" (using a statement charge) and then describe the details o the discount in the memo field or description fiel and then enter the dollar amoount of the discount ad make sure you enter a "-" minus sign in front of the dollar amount... ... for example, if you wanted to give them a 10% discount on an $800 rent,
you would enter "ALL STAR"
description, earned 10% discount
dollar amount = -$80.00
this will automatically deduct this amount from the amount owed you for this billing period
I'm assuming this will also include the 2.9% rent increase too.
NO, No, Breisch... you will actually "edit" or modify the existing monthly recurring charge for the rent....
For example....On the 13th month, should I charge the normal rent plus the 2.9% increase and then on the next line on the register show a 10% credit of the Rent + 2.9% increase back to the account using the discounts feature? How do you normally show this on your books?
These are two totally separate independent transactions and procedures. Please do NOT try to combine them... just keep it simple and you will be happy.
2. Since this is my first full tax year with our business, I was planning on using TurboTax to calculate our personal and business taxes, as well as getting a CPA to do them too. Basically I just want to see if the CPA really gets us more money than we can do on our own.
Be careful here.... i do not know your CPA... Please make sure you get a Real Estate EXPERT CPA.... Remember, Veterinarians and Brain Surgeons are both called "Doctor"... which one do you want to work on your noggin?
The only problem I'm running into is that none of the Tax Line Items are declared in the Tenant or Investors Module.
I believe I remember you saying on the Getting Started Video not to add anymore categories into the list and that these Accounts/Categories would be the only ones we would need to run the business, except for adding the normal bank, mortgage, escrow etc accounts.
TRUE, the shorter the better.... if you are an avid and sharp Quickbooks user, you could assign tax form schedule specifici lines; however, i do not recommend it.. I highly recommend to have an expert, highly qualified REAL ESTATE CPA who happens to be an investor as well..
I was wondering why the Tax Line Items are not declared on any of the accounts/categories. Is it supposed to be that way? Some of the categories are pretty self explanatory as to what Tax Line Item goes with it... such as Advertising. You don't happen to have what category goes with what tax item do you?
Thank you so much for developing this easy to learn and use system.
Sincerely,
Breisch Stallings
Madison, MS
I hope this helps you Briesch!
Keep Cranking It
Mike Butler
http://www.5mWAP.com
I bought your Investor and Tenant Books last year (the 5mWAP system using QuickBooks Pro... http://www.5mWAP.com ).
This is one of the best products I've implemented in my real estate system.!
I've thoroughly enjoyed using it this year in our business.
My questions are the following:
1. In following your All Star Plan in your book and the Christmas Credit, how am I supposed to categorize the credits that I give to tenants on the 13th, 25th, and 37th months?
A. You could simply enter "All Star" (using a statement charge) and then describe the details o the discount in the memo field or description fiel and then enter the dollar amoount of the discount ad make sure you enter a "-" minus sign in front of the dollar amount... ... for example, if you wanted to give them a 10% discount on an $800 rent,
you would enter "ALL STAR"
description, earned 10% discount
dollar amount = -$80.00
this will automatically deduct this amount from the amount owed you for this billing period
I'm assuming this will also include the 2.9% rent increase too.
NO, No, Breisch... you will actually "edit" or modify the existing monthly recurring charge for the rent....
For example....On the 13th month, should I charge the normal rent plus the 2.9% increase and then on the next line on the register show a 10% credit of the Rent + 2.9% increase back to the account using the discounts feature? How do you normally show this on your books?
These are two totally separate independent transactions and procedures. Please do NOT try to combine them... just keep it simple and you will be happy.
2. Since this is my first full tax year with our business, I was planning on using TurboTax to calculate our personal and business taxes, as well as getting a CPA to do them too. Basically I just want to see if the CPA really gets us more money than we can do on our own.
Be careful here.... i do not know your CPA... Please make sure you get a Real Estate EXPERT CPA.... Remember, Veterinarians and Brain Surgeons are both called "Doctor"... which one do you want to work on your noggin?
The only problem I'm running into is that none of the Tax Line Items are declared in the Tenant or Investors Module.
I believe I remember you saying on the Getting Started Video not to add anymore categories into the list and that these Accounts/Categories would be the only ones we would need to run the business, except for adding the normal bank, mortgage, escrow etc accounts.
TRUE, the shorter the better.... if you are an avid and sharp Quickbooks user, you could assign tax form schedule specifici lines; however, i do not recommend it.. I highly recommend to have an expert, highly qualified REAL ESTATE CPA who happens to be an investor as well..
I was wondering why the Tax Line Items are not declared on any of the accounts/categories. Is it supposed to be that way? Some of the categories are pretty self explanatory as to what Tax Line Item goes with it... such as Advertising. You don't happen to have what category goes with what tax item do you?
Thank you so much for developing this easy to learn and use system.
Sincerely,
Breisch Stallings
Madison, MS
I hope this helps you Briesch!
Keep Cranking It
Mike Butler
http://www.5mWAP.com
Sunday, February 22, 2009
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
----------------------------
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
-----
To Get Your Own 5M WAP Wealth Autopilot System, the Only Complete System for Investors using QuickBooks Pro.. visit http://www.5mWAP.com
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
----------------------------
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
-----
To Get Your Own 5M WAP Wealth Autopilot System, the Only Complete System for Investors using QuickBooks Pro.. visit http://www.5mWAP.com
Friday, February 20, 2009
Monday, February 16, 2009
Bad News, Good News, and Tonite 9pm EST
Life is So Precious!
This is one of the biggest things to keep focused on in your business and life!
My good friend, fellow investor and local KREIA memberTyler Eldred, was killed on Valentine's Day Saturday reportedly while cutting downed tree limbs and one limb fell striking him in the head.
Tyler was only 43 yrs old and has a remarkable family with his wife Stacy and I think they have 4 beautiful young children.
Our prayers for Stacy and their kids. I could goon and on for pages about Tyler Eldred, a man I was proud to call my friend.
(if you need details about Tyler's funeral arrangements)http://www.legacy.com/louisville/Obituaries.asp?Page=Lifestory&PersonId=1242231106
NEWS Updates
- - - - - - - - -- - - - - -- -
1.) TONITE 9pm est, WHOLETAIL with Q&A
back by popular demand!
2.) Cruise Updates and tips
3.) Fill Vacancy Fast Tips
4.) The Deals are Here Now.. How?
-- -- -- -- -- -- -- - - - - - - - - - -- - -
- - - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
We have been bombarded with all kinds of request for more information on WholeTailing
You asked and You're getting it, tonite at 9pm
Sure it is a short notice, but we were onthe NaREIA cruise last week and did not have the opportunity to get the news out.
In fact, we just decided this morning to do WholeTailing tonite.
What is WholeTailing?
It is probably your answer for today's crazy market.
Picture yourself combining the Fast Cash profit of wholesaling with the big profit and fat checks of retailing.
WholeTailing could be your answer.
there are 3 simple rules to follow and master this new investing technique.
Make sure you are on the call tonite.
we have only 250 lines, so grab yours now.
- - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
*********************************
CRUISE UPDATES AND TIPS
* * * * * * * *
everytime i hook up with investors and speakers from all over the country, it is like getting another decade of training compacted into these 7 days...
Just a few tips...
This is 2009, you have got to be on boardwith the new systems and technology to explode your business..some of these are
TWITTER
Follow Me on Twitter:
http://twitter.com/mikebutler_com
Sign Up and it is free...
Another is FaceBook
Friend me on Facebook at:
http://www.facebook.com/people/MikeButler/1038531915
check out PostLets for your properties
Get Your Own Blog for free at Blogger which is part of Google or you can create one with WordPress
(just go to google.com and search for either one)
Here is what is really neat... your twitter messages and facebook stuff can be all set up to work with your cell phone..
I do not understand it all, but i did see it in action and this stuff is just fascinating when used properly...
Take a few minutes and schedule this for yourself and your family.
8 Track Tapes have been gone for a while... you might want to see what is really going on in today;'s world and you can save a ton of money at the same time
-- --- --- --- --- --- -- - -- --- - -- - - ---- - - -- - -
* * * * * * * * * * * * * * * * * * * * ** *
Fill Vacancy Fast TIP
* * * * * * * * * * *
this is a hot potatoe in today's market.
While on the cruise, my Q&A with 107 landlording tips was on fire!
Paul from Sarasota Florida has a challengeof tenants "shopping" for the best deal including serious considerations of moving for rentswith a $5.00 month cheaper rent.
At first I thought he was nuts... but in his town, a whole block of new houses are listed for sale and for rent.Tenants are telling investors they will not sign any lease agreements and they will only rent month to month.
After a brief discussion with Paul, we scribbled down the challenges and then priortized them... it boils down to this guys.
If there are 8 properties for rent, and only1 will get rented this month, what will make yours to be the one that gets rented?
For starters, PRICE.. think like Car Dealerships,used car lots, furniture stores and retailers.
they ALL used the $9,995 instead of $10,000
WHY? because the perception is it is CHEAPER!
You should do the same. If your market rentis $1,000, you should market $995. I would do it one step better to make it happen faster.
Try marketing it for $899* (or with coupon)boy, this will sure get the phones fired up.(I will give you the rest of the story about the *asteriskon tonite;'s training call.)
______________________________________
* * * * * * * * ** ** * * * * * * * * * * *
The Deals Are Here, Where Are You?
* * * * * * * * * * * * * * * * * * * ** * ** **
\Funding seems to be the challenge for investors today...
Odds are, you and me can not force the banks and financial institutions to loosen up.. so what is a poor investor to do?The sharp investors MOVE On and discover how to adapt in today's market and make a killing.
Couple of tips...
Brush up on getting other resources...
-- Private Lenders
-- Seller Financing is HUGE and is your #1 resource!
----------------------------------------------------
remember, these and more answers toniteon www.MikesMondays.com
See Ya Tonite
Mike Butler
P.S. Please remember Tyler Eldred and his family in your prayers.
You also get a big Q&A tonite, don't miss it
- - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
Get Friendly Text Reminders http://tinyurl.com/5qasrm
Friend Me on FaceBook: http://www.facebook.com/people/MikeButler/1038531915
Follow Mike on Twitter:
http://twitter.com/mikebutler_com
Do You Like My Email System?
Check it out http://tinyurl.com/7vqsxc
This is one of the biggest things to keep focused on in your business and life!
My good friend, fellow investor and local KREIA memberTyler Eldred, was killed on Valentine's Day Saturday reportedly while cutting downed tree limbs and one limb fell striking him in the head.
Tyler was only 43 yrs old and has a remarkable family with his wife Stacy and I think they have 4 beautiful young children.
Our prayers for Stacy and their kids. I could goon and on for pages about Tyler Eldred, a man I was proud to call my friend.
(if you need details about Tyler's funeral arrangements)http://www.legacy.com/louisville/Obituaries.asp?Page=Lifestory&PersonId=1242231106
NEWS Updates
- - - - - - - - -- - - - - -- -
1.) TONITE 9pm est, WHOLETAIL with Q&A
back by popular demand!
2.) Cruise Updates and tips
3.) Fill Vacancy Fast Tips
4.) The Deals are Here Now.. How?
-- -- -- -- -- -- -- - - - - - - - - - -- - -
- - - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
We have been bombarded with all kinds of request for more information on WholeTailing
You asked and You're getting it, tonite at 9pm
Sure it is a short notice, but we were onthe NaREIA cruise last week and did not have the opportunity to get the news out.
In fact, we just decided this morning to do WholeTailing tonite.
What is WholeTailing?
It is probably your answer for today's crazy market.
Picture yourself combining the Fast Cash profit of wholesaling with the big profit and fat checks of retailing.
WholeTailing could be your answer.
there are 3 simple rules to follow and master this new investing technique.
Make sure you are on the call tonite.
we have only 250 lines, so grab yours now.
- - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
*********************************
CRUISE UPDATES AND TIPS
* * * * * * * *
everytime i hook up with investors and speakers from all over the country, it is like getting another decade of training compacted into these 7 days...
Just a few tips...
This is 2009, you have got to be on boardwith the new systems and technology to explode your business..some of these are
Follow Me on Twitter:
http://twitter.com/mikebutler_com
Sign Up and it is free...
Another is FaceBook
Friend me on Facebook at:
http://www.facebook.com/people/MikeButler/1038531915
check out PostLets for your properties
Get Your Own Blog for free at Blogger which is part of Google or you can create one with WordPress
(just go to google.com and search for either one)
Here is what is really neat... your twitter messages and facebook stuff can be all set up to work with your cell phone..
I do not understand it all, but i did see it in action and this stuff is just fascinating when used properly...
Take a few minutes and schedule this for yourself and your family.
8 Track Tapes have been gone for a while... you might want to see what is really going on in today;'s world and you can save a ton of money at the same time
-- --- --- --- --- --- -- - -- --- - -- - - ---- - - -- - -
* * * * * * * * * * * * * * * * * * * * ** *
Fill Vacancy Fast TIP
* * * * * * * * * * *
this is a hot potatoe in today's market.
While on the cruise, my Q&A with 107 landlording tips was on fire!
Paul from Sarasota Florida has a challengeof tenants "shopping" for the best deal including serious considerations of moving for rentswith a $5.00 month cheaper rent.
At first I thought he was nuts... but in his town, a whole block of new houses are listed for sale and for rent.Tenants are telling investors they will not sign any lease agreements and they will only rent month to month.
After a brief discussion with Paul, we scribbled down the challenges and then priortized them... it boils down to this guys.
If there are 8 properties for rent, and only1 will get rented this month, what will make yours to be the one that gets rented?
For starters, PRICE.. think like Car Dealerships,used car lots, furniture stores and retailers.
they ALL used the $9,995 instead of $10,000
WHY? because the perception is it is CHEAPER!
You should do the same. If your market rentis $1,000, you should market $995. I would do it one step better to make it happen faster.
Try marketing it for $899* (or with coupon)boy, this will sure get the phones fired up.(I will give you the rest of the story about the *asteriskon tonite;'s training call.)
______________________________________
* * * * * * * * ** ** * * * * * * * * * * *
The Deals Are Here, Where Are You?
* * * * * * * * * * * * * * * * * * * ** * ** **
\Funding seems to be the challenge for investors today...
Odds are, you and me can not force the banks and financial institutions to loosen up.. so what is a poor investor to do?The sharp investors MOVE On and discover how to adapt in today's market and make a killing.
Couple of tips...
Brush up on getting other resources...
-- Private Lenders
-- Seller Financing is HUGE and is your #1 resource!
----------------------------------------------------
remember, these and more answers toniteon www.MikesMondays.com
See Ya Tonite
Mike Butler
P.S. Please remember Tyler Eldred and his family in your prayers.
You also get a big Q&A tonite, don't miss it
- - - - - - - - - - - - - - - - - - - - -- - - -
Reserve Your Slot Now for Tonite 9pm est
(8pm cst, 7pm mst, 6pm pst)
http://tinyurl.com/ca9kst <-- Register Here For Tonite
(copy and paste into your browser)
___________________________
Get Friendly Text Reminders http://tinyurl.com/5qasrm
Friend Me on FaceBook: http://www.facebook.com/people/MikeButler/1038531915
Follow Mike on Twitter:
http://twitter.com/mikebutler_com
Do You Like My Email System?
Check it out http://tinyurl.com/7vqsxc
Wednesday, February 4, 2009
QuickBooks Question on Investor Books
Mike,
In my paper checkbook for my duplex, I show a separate account on (paper only) for security deposits.
I keep the balances separate, so I don't add this balance to my regular checking account accept when balancing the account, but the money is still in my checking account for backup so I don't overdraw the account.
Is it possible in Investor Books to have a primary checking account with a Security deposit account inside of this checking account? How could you show a transfer from the checking account to the sub-security deposit account.
Or
Could I set up 2 separate accounts inside of one Bank so I could transfer funds back and forth in Investor books, but keep them as one inclusive account at the bank? Would this work or not?
Thanks,
Mark S.
Indiana
Answer: Excellent Question Mark!
Couple of things here.
1.) Double and Triple Check with your Landlord Tenant Laws for your town and state... Many states including mine, require a separate account used exclusively for Tenant Security Deposits... so if this is the case in your town... this is your answer.
2.) Regarding "sub-accounts" within a checking account... yes you can Mark.. the easiest way would be to create a bank account.... then create a sub account and call it checking and another sub account called security deposit... this would then show how much in your "checking" part and how much in your "security deposit" part and the two combined would be displayed as a balance in the bank account... it would look something like this..
Bank Account...... $10,000
- checking .... $7,0000
- security dep..... $3,0000
or simply open another money market account and call it security deposit.
Keep Cranking It
Mike Butler
Get your 5m WAP system today at www.5mWAP.com
In my paper checkbook for my duplex, I show a separate account on (paper only) for security deposits.
I keep the balances separate, so I don't add this balance to my regular checking account accept when balancing the account, but the money is still in my checking account for backup so I don't overdraw the account.
Is it possible in Investor Books to have a primary checking account with a Security deposit account inside of this checking account? How could you show a transfer from the checking account to the sub-security deposit account.
Or
Could I set up 2 separate accounts inside of one Bank so I could transfer funds back and forth in Investor books, but keep them as one inclusive account at the bank? Would this work or not?
Thanks,
Mark S.
Indiana
Answer: Excellent Question Mark!
Couple of things here.
1.) Double and Triple Check with your Landlord Tenant Laws for your town and state... Many states including mine, require a separate account used exclusively for Tenant Security Deposits... so if this is the case in your town... this is your answer.
2.) Regarding "sub-accounts" within a checking account... yes you can Mark.. the easiest way would be to create a bank account.... then create a sub account and call it checking and another sub account called security deposit... this would then show how much in your "checking" part and how much in your "security deposit" part and the two combined would be displayed as a balance in the bank account... it would look something like this..
Bank Account...... $10,000
- checking .... $7,0000
- security dep..... $3,0000
or simply open another money market account and call it security deposit.
Keep Cranking It
Mike Butler
Get your 5m WAP system today at www.5mWAP.com
Subscribe to:
Posts (Atom)
Posts
