Rental Property Income & Expense Tracking Template For Real Estate Investors (Landlords)
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- Опубликовано: 21 июл 2024
- Rental Property Accounting Template For Landlords and real estate investors
www.dropbox.com/s/v28jtzr9pjm...
Chapters (Time Stamps):
0:00 Introduction
0:50 How to use template
3:00 How to use this spreadsheet properly
4:50 How to insert an additional row in excel
7:00 How to setup links in excel
14:00 Rental activity balance sheet activity discussion
![How to keep your Accounts using a Spreadsheet [in 2023]](/img/1.gif)
Thank you for allowing us to download this profit and loss statement. I am terrible with Excel so your template is tremendously helpful! Your videos pertaining to rental p.operties and taxes are so helpful.
Your explanation of accounting is best. Easy to comprehend and follow.
Gets right to the essentials. Thanks. And yes, 'how-to' on the balance sheet side of the equation would be welcomed!
Living in duplex and renting out the other half. This is a great spreadsheet. Was considering making one myself but procrastinated pretty hard (haha). Thanks!
My pleasure! Glad to be able to save you time. This helps my clients organize their information as well so it is a win win
you are the best. Im using your template for my investment property and REALLY REALLY Appreciate you taking the time to help others out like myself. THANK YOU from the bottom of my heart
You are most welcome. thank you!
I love your channel and your contents. They are so useful helpful especially your spreadsheets.
Thanks Vichai that really means a lot to hear that 🙂
This fantastic. Thank you for allowing us to download this formula. Makes my life so much easier.
I would love to have the balance sheet side of this spreadsheet. Thank you for explaining things to well!
This is Great. Thank you so much. My accountant will be in shock. For taxes, etc, I inputted the -(minus) sign. It seems to be working like that.
Glad it was helpful!
Hey Mike, thank you so much for the profit/loss statement template. its been beyond helpful to keep track of everything. I did have one question though. Where do I put my mortgage principal? Would i just make a separate page or should i just keep it with the mortgage interest?
you are amazing for providng this spreadsheet. thank you for doing this.
Chapters (Time Stamps):
0:00 Introduction
0:50 How to use template
3:00 How to use this spreadsheet properly
4:50 How to insert an additional row in excel
7:00 How to setup links in excel
14:00 Rental activity balance sheet activity discussion
Thank you Mike, this is super helpful and easy to follow.
My pleasure good sir!
Very helpful keeping things straight!
Thank you!
Very powerful excel sheet Mike! Makes me want to be a landlord haha just to be able to use it.
You and me both brother! hahha Love your comment.
Great explanations! Thanks.
PLEASE make a video going into further detail about the balance sheet and make a template. This video was very helpful and I'd love to learn from you about the balance sheet as well. Also, do you have a video that explains how to track on a spreadsheet estimated costs versus actual costs for rental properties? Thanks so much!
Thank you so much for sharing this great and simple spreadsheet.
My pleasure!
I love your spread sheet.
I like your spreadsheet. Is there anywhere that you account for and/or keep a record of the principal portion of a mortgage payment and also capital expenditures? I don't know that I want to lump those numbers in with regular operating expenses.
Hey Mike, Thank you so much for your help with this spread sheet. I do have another question, do I need a separate sheet for each rental and how can I keep them all together?
Thanks, I downloaded the spreadsheet and I intend to use it for the Accessory Dwelling Unit or in-law apartment we are building into our home. I'm really interested in the balance sheet half of this. Any special advice on how I can expense the cost of renovating the house? We're going to be spending quite a lot to make the ADU. Thanks in advance.
This is great. Thanks! For a typical airbnb (without provided daily cleaning or breakfast etc), my accountant said would be on Schedule E. But I've heard others say airbnb's should be on schedule C. Do. you know which is correct? Thanks!
Ty subscribed!
Thanks for the Sheet
great video
Awesome video. Thanks for the template. How would you suggest to log expense reimbursements? Same as other expense tabs?
Thanks for the video, I download my bank information twice a month and I created a schedule E look alike as a pivot table. I'm wondering if this template would allow it ?
Great spreadsheet. I am a outside salesman working for Employer and receive W2, but use my Home office as part of this job. Can I deduct my home Office in 2022?
I Downloaded it and was so excited to get organized. I needed to add a row for Travel and followed the exact instructions but was not able to drag the formula across as indicated. Please help. I really want to use this accounting sheet.
If I have an LLC, do I still report rental income and expenses through Schedule E? I've read that it's no point in doing it through schedule C because schedule C is earned/generated income and schedule E is passive
Thank you so much !!
You're welcome!
I would like to request the balance sheet and be notified if you create a video regarding the same
Hi, did you end up doing a balance sheet video? I couldn’t find it. Love this vid.
Hi Mike, I actually still use your rental expense template you shared some time ago, Its time to upgrade it to this one. 😊👍❤ by ant chance do you have a video of or info on how to report the sell of a property? I have a friend who just sold her house.
Hi Maria, glad the spreadsheet is working out :) I do not have a video on home sales as there are several factors that are very specific to each person's situation that would difficult to cover in video. Has she looked for other information online? If it is not a personal residence sale she may want to consult with a professional to make sure it is done properly.
@@MoneyandLifeTV gotcha thanks mike
Thank you!
You're welcome!
Thank you 🙏
Great sheet
hey just catching up to your videos and appreciate the content, I do have a question Dropbox wants my CC info and dont feel comfortable with that, is there a way i can get the ling from you directly or another way?
Does higher interest rates (like 7+%) make it worth buying (mortgage it) a home to rent out, expecially if W2 wages are over the 150k AGI?
Did you also create a statement of account to track each tenant's rent due, late fee, payment received, balance owing?
I have a building with 10 units; I want to send out monthly statements to my tenants. I devised one of my own but I'm not very proficient with Excel.
Thank you for the great information I've always been curious about.
My rental property has been paid off and I have to pay significant taxes. Is there any way to save some tax?
Thanks always!!
Hi Kate! There are many ways to save on taxes with rentals. Perhaps this would be a good video topic to explore.
Thanks for the sheet. I would like to have the balance sheet side also.
Thanks Steven I need to eventually get around to making a template. The accounting practice ha been keeping me too busy lol. I think I will make one eventually though. Thanks for watching :)
@@MoneyandLifeTV I have been struggling to find a simple rental template, so glad you put this one together.
Hoping you will have the b/s template shortly.
I house hack, a duplex would a CPA help me more than the real estate guy at H&R Block in your opinion????
How do you currently account for your rental activity and what else do you wish you knew about accounting and taxation when it comes to rentals?
Thank you for all valuable information you share. I have a question about two airbnb rental in Mexico. Do I have to use sch e and 1116 if I paid taxes in mexico? Or only sch e its fine? 😊 Thank you in advance
Hi Mike. Thank you for sharing presenting this valuable information. I currently use Excel to track a rental property and I'm familiar with your cell formulas. Although tracking one property is simple enough, I am finding it daunting to keep up with tracking multiple rental properties in an LLC. I would love to see a presentation on the Balance Sheet and Cash Flow using Excel. Thank you for sharing this rich information!
How would you record an Owner Contribution in this spreadsheet? Thank you for making these videos so interesting and engaging.
Hi Mary, contributions are meant for a balance sheet. Basically, you would not factor those into the profit and loss. I currently do not have a balance sheet template available, unfortunately. I would notate those elsewhere.
I don't see the download. Do I have to get Dropbox to download this template?
Is mileage something that I can add to this spreadsheet??
Great video! How do I download the template
Hey really helpful! Is there a balance sheet video too?
I may finally make one soon :)
How to change the currency as I am from Different country? Thanks
can be available Loan management(Micro Finance) template?
How do I get the ### to turn into numbers on the template? The Rental income on the first page will not change for me for some reason.
How do I download the template spreadsheet? I am very interested.
Hello, do you offer a service for a fee to file form 568 for out-of-state one-owner LLCs, my wife has a small amazon account and CA asked us to file a 2019 year form and pay fees and taxes. They want us to pay because we can't prove that our products never arrived at a CA amazon warehouse. Appreciate your feedback.
Hi Anonymous, I do work with people outside of California. It sounds like you likely received a notice, because they believe you have CA source income. This is the form instructions they are referring to. www.ftb.ca.gov/forms/2020/2020-568-booklet.html I would start here by reviewing the instructions to the form if you have not done so already to determine if you are required to file. For me to look into it and resolve the notice, etc. it would be at least a few hundred dollars worth of work so you may try resolving yourself first, but if you still need help you can reach me at www.mikekellycpa.com Thanks!
-Mike
@@MoneyandLifeTV thank you for the information, my name is Husam. I will go throughout the guidelines. This is a big issue right now with many small sellers trying to figure out how to fill the form. It could be a good video idea ; I did not find any video showing the form and how it can be filled for out of state LLC. The franchise tax board is considering all Amazon FBA sellers to have nexus with CA as soon Amazon transfer inventory to CA.
Hi Husam, CA is very aggressive in their tax practices. You will not find videos on such information, because there are multiple issues involved that are very specific to each person's situation that would be difficult to cover in a video and secondly the professionals who invested years and tens of thousands of dollars to learn how to prepare such forms and get a degree and licensed in accounting would have no incentive to give away that information for free.
Hi Mike How do it get this spreadsheet
Please do a balance sheet
I put my rentals on shedule e
Hi, How i can i download it, kindly advice, thank you & appreciated
Through dropbox here is the link: www.dropbox.com/s/v28jtzr9pjmtu0r/Rental%20Income_Expenses.xlsx?dl=0
I can help anyone with medium excel program
Great Simple spreadsheet but your excel explanations aren't very clear for beginners of excel.
Sub!!
Template can be downloaded here: Please do not modify the template on dropbox. Thank you and enjoy :) www.dropbox.com/s/v28jtzr9pjmtu0r/Rental%20Income_Expenses.xlsx?dl=0
Hey Mike, Thank you so much for your help with this spread sheet. I do have another question, do I need a separate sheet for each rental and how can I keep them all together?