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Investment Property Bookkeeping, Part 3

Investment Property Bookkeeping, Part 3

Below is part 3 of my investment property bookkeeping series. The first post discussed bank account organization and budgeting, while this post discusses the Excel document that I use in conjunction with my binder organization system. The Excel Worksheet Like the binder, the Excel worksheet is an annual catalogue of all of our investment properties’Read More
Investment Property Bookkeeping, Part 2

Investment Property Bookkeeping, Part 2

This is the 2nd installment of my Investment Property Bookkeeping series; the first focused on bank account organization and budgeting, while these next segments focuses on expense and income recording for tax time. Backstory During my first tax season with our rental duplex, I assumed that either all of our investment propertiesRead More
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Investment Property Balance Sheet - 2013 Edition

Now that we've closed on our 2nd duplex and found tenants, I wanted to share an updated balance sheet looking at the both properties combined. The original balance sheet was created after we purchased our first property in 2013. Duplex #1 Total cost: $181,350 Down Payment: $45,350 (25%) Mortgage: originally $136,000, currently $132,930 Duplex #2 Total cost: $144,000 Down Payment:Read More
The Mystery of the Haunted Duplex

The Mystery of the Haunted Duplex

I get an email first thing in the morning from a new tenant asking me to call her back about an important matter, pertaining to some incidents that have happened at the property. I call her back, and she is IN TEARS describing a series of strange events over several days,Read More
How a Redfin Alert Saved us $6,000 on Our Duplex

How a Redfin Alert Saved us $6,000 on Our Duplex

Let me set the scene:  There are a row of identical duplexes, and several of which are up for sale as foreclosures under Fannie Mae's Homepath program. The 1st property we bid on ended up in a 6-way bidding war. Our best offer was $145k, which was lost to a bid that was "substantiallyRead More
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What are Rental Criteria and Why Do I Need Them?

In anticipation of having vacancies of fill, the hubby tells me we need to make rental criteria. Rental criteria is simply a document listing the guidelines you will use when deciding whether rental applicants are approved. This wasn’t something I intuitively wanted or needed – of course I’d run a backgroundRead More