Featured · Real estate · · 3 min read
My BRRRR horror story
A Jacksonville BRRRR that should have refinanced ended in a sale at a $16K loss. A car crashed into the house, the wrong insurance policy left me uncovered, and here is what it taught me.
TheLedger.
Written by Jake Baker, founder of BookkeepingRE. No pitches, just value.
- Bookkeeping
- Real estate market trends
- Bookkeeping tips
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From TheLedger.
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How to track rehab costs in QuickBooks Online
Use the Projects portal in QuickBooks Online to track every rehab cost by property and by phase, from permits to final cleaning, and read the profitability report your lender and your CPA both want.
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How to choose the right bookkeeper for your real estate business
What a real estate bookkeeper saves you, the four things to check before you hire one, and why an investor should look for a bookkeeper who invests too.
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Hard money vs. cash vs. private money
Cash, hard money or private money for a flip or a BRRRR? The costs, the leverage and the risks of each, and the hybrid Jake Baker uses to fund ten or more projects a year.
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How to successfully work with contractors
A clear scope of work, a signed contract, verified insurance, strict timelines, agreed communication and a bonus for finishing on time. How to keep a rehab on track, from an investor who runs ten a year.
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The five wealth generators in real estate
Cash flow, forced appreciation, market appreciation, debt paydown and tax benefits: the five ways a rental builds wealth, and how Jake Baker balances them in a high-appreciation market like San Diego.
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Understanding your financial team: who does what
Bookkeeper, tax preparer, payroll specialist, accountant, tax advisor, enrolled agent, CPA. What each one does for a real estate business, what they need to hold, and how they work together.
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QuickBooks Online vs. real estate-specific accounting software
QuickBooks Online or Stessa for your rentals? Stessa is simple and free for a few doors. QuickBooks Online reconciles, scales, and is what your tax preparer expects. How to choose by portfolio size.
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Bookkeeping best practices for new real estate investors
Six habits that keep a new investor's books clean: start simple, separate the accounts, file every receipt, keep the closing documents, move to software as you scale, and know when to hand it off.
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$10,000 penalties per entity: the Corporate Transparency Act
What the Corporate Transparency Act asked of every LLC in 2024, the penalties it carried, and the 2025 rule that removed the reporting requirement for companies formed in the United States.
