It's time to gain clarity and make better financial decisions that will grow your wealth

Free up your time, reduce your tax liability, and make better investment decisions that will grow your wealth with Outsourced Accounting Services

Get a Handle on the Financial Side of your Portfolio or Business

If you’re like many investors, you know keeping clean and up-to-date financial records is key to making good financial decisions, minimizing your tax liability, and growing your wealth. 

Do you have the funds to put a down payment on the next property?
Are one or more of your properties underperforming?
How much tax will you owe?

All these questions can be answered when you have a good accounting system that is updated regularly. Without one, you’re taking educated guesses at best.

Many investors use spreadsheets and shoeboxes when just starting out...

Yuck!

It is tough to keep this system update-to-date and often leads you to spend dozens of hours playing catch up and trying to piece together the puzzle at the end of the year...

Or worse, dumping it on your CPAs desk to figure out, which often leads to delayed tax returns and increased preparation fees.

Even with a good accounting system in place, bookkeeping can be tedious, time-consuming, and repetitive. Staying on top of it on a regular basis is just a pain.

And with all of the different hats you wear as a real estate investor or business owner, who has time for that?

It needs to be delegated...But to who?

It all depends on the size of your business, but for many investors, it's hard to justify the cost of hiring an in-house bookkeeper.

And even when the cost can be justified, someone still has to supervise them. And if you’re trying to grow your portfolio or business, you have more important things to worry about.

That's why after helping over 600+ real estate investors and business owners, we’ve developed Outsourced Accounting services that help investors and business owners like yourself implement accounting systems that get you out of the accounting function so you can focus on growing your business and your wealth!

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How Outsourced Accounting Services Can Help!

 

Phase 1: Accounting System Implementation

The first step in getting an efficient accounting solution in place is using a dedicated accounting system such as Quickbooks Online (QBO).

While property management solutions offer some accounting functionality, they leave much to be desired. 

And spreadsheets can only hold you over for so long. Eventually as your portfolio or business grows, you’ll need a dedicated accounting system to track financials efficiently.

That's where we come in...

The goal of an Accounting Setup engagement is to set-up a fully functional accounting system based on your business, whether you’re a landlord, fix and flipper, wholesaler, property manager, brokerage, syndicate, or fund we have you covered.

The setup includes:

  • - Setting up a QuickBooks Online (QBO) account with the appropriate chart of accounts, class tracking, and opening balances based on your business
  • - Reconciled bank accounts
  • - Assets have been captured, including property basis in QBO
  • - Easy to use receipt management system in QBO
  • - Training on how to use your accounting system

Once your accounting system is in place, it will be ready to track the financial performance of your business on a regular basis. 

We also provide you with a deliverable that includes a current Balance Sheet, Profit and Loss Statement, and General Ledger as of the time your accounting system was set up.

 

Phase 2: Monthly Full-Cycle

Whether you already have an accounting system in place, or we set one up for you, someone eventually needs to handle the month-to-month bookkeeping functions to keep your financial records up-to-date.

If you don’t want to deal with the time-consuming and repetitive bookkeeping function, or don’t want to deal with the hassles of managing an in-house bookkeeper, we have a solution for you. 

Our real estate accounting team can take over the monthly bookkeeping function out of your hands so you can focus on the tasks that will grow your business. 

The monthly bookkeeping process includes:

  • - Maintaining an accurate record of transactions
  • - Capturing the purchase or sale of property through journal entries
  • - Reconciling Bank account(s) to ensure accurate reporting
  • - Generating financial reports including P/L, Balance Sheet, and General Ledger

On the 15th day following each month, you’ll be delivered a set of financial statements that will allow you to keep a pulse of the health of your business and make better financial and investment decisions.

 

Phase 3: Accounting Advisory

Once you have clean and up-to-date financial statements, the question is how can you use this data to make better financial and investment decisions?

That's where our Accounting Advisors come in…

Our Accounting Advisors are available to you on an as-needed basis to help you review and interpret your financial statements so you can better understand how to use them to make better decisions.

Accounting Advisory may also be perfect for you if you want to handle the day-to-day bookkeeping within your own team, but still have the support of an Accounting Advisor.

Advisory services are customizable and include but are not limited to:

  • - Training a bookkeeper or team member on real estate accounting best practices
    - Reviewing your financial statements for accuracy and providing feedback and suggestions for improvement
    - Email support on accounting matters
    - Advisory support calls on accounting and financial matters, including financial statement analysis.

What to Expect

Calendar

Kick-Off Call

Meet your Accounting Advisor to discuss your business, engagement expectations, timeline, and transfer of the information required to complete your engagement.  

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System Implementation

Our team will set-up your QuickBooks Online (QBO) accounting system based on the type of real estate business(es) you own/operate.

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Monthly Bookkeeping

Once your system is implemented, we will handle the month-to-month bookkeeping functions to keep your financial records up-to-date and deliver reports on 15th day following each month.

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Accounting Advisory

Our Accounting Advisors are available to you on an as-needed basis to help you review and interpret your financial statements so you can better understand how to use them to make better decisions.

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Don't just take our word for it!

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Mike Dymski

Real Estate Investor

The Real Estate CPA helped me save $37,818 on 2017 taxes by recommending and assisting with a cost segregation study.

With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

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Ryan Goldfarb

Berry Lane Partners

Principal

As our business has grown, The Real Estate CPA's involvement has proved instrumental. Thanks to their specialization in real estate, they provide value well beyond "bookkeeping" as they understand the nuances of both the tax code and the real estate industry.

Their focus on planning enhances our sense of clarity with respect to our tax position, but also with respect to our business goals. We've been able to leverage their real estate investing experience to circumvent the inevitable roadblocks we encounter along our path to growth.

Another perk to the Firm's real estate-centered approach is the vast network to which you become a part when they join your team. The Firm's client base knows no geographical bounds, and they work with experts in every facet of the business.

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Brian Springer

Landlord & Private Investor

The Real Estate CPA is awesome! I could not imagine building my real estate business without them as a part of our team.

They understand the nuances with the tax law, tax strategy, business, and the real estate industry. As investors themselves, they have a unique and insightful perspective of both sides of the business. They continually encourage us to expand our vision, think bigger and to achieve more.

The thing I like most about working with the firm is their pride, passion and enthusiasm for their work. You always feel as if you are their most important client.

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Eric P.

Real Estate Investor, Builder

Having worked with some other larger CPA firms, and having some bad experiences therein, it was refreshing to find a firm like TRE CPA. Excellent - and practical - planning advice was provided in my onboarding sessions, with targeted questioning to ensure that the topics and agenda were in line with my needs. I feel that I received excellent value for the fees paid, which hasn't always been the case with other providers. The fact that the firm specializes in Real Estate investors is icing on the cake. Five stars!

Meet Your Accounting Team

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Taylor Brugna, CPA
Partner

Taylor works with real estate investors, developers, and private equity funds as a CFO, providing tax strategy, accounting consulting, and financial analysis.

As an investor himself, Taylor believes that perfecting the accounting systems leads to making good decisions that are crucial to the success of the business. Taylor owns and operates 100+ units.

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Kristina Mueller
Senior Accounting Advisor

Kristina works with landlords, fix and flippers, wholesalers, property managers, brokerages, and syndicates to implement accounting systems that maximize tax savings.

Kristina is a CMA candidate and QBO Proadvisor

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Joanne Kelly
Senior Accounting Associate

Joanne is a former Controller with over 30 years of public and private accounting experience in the real estate and non-profit industries. She currently works on a wide-range of clients ranging from small landlords to syndicates and funds.

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Charles Cunanan
Bookkeeper

Charles is a bookkeeper for landlords, fix and flippers, wholesalers, property managers, brokerages, and syndicates. He also assists in accounting system implementation. 

Frequently Asked Questions

Real estate investors and business owners of virtually all types including:

  • Landlords 
  • Fix and flippers 
  • Wholesalers 
  • Agents and brokers
  • Property managers. 
  • Syndicates and funds
  • Other related small businesses

It's never too early to start considering outsourcing this function of your business.

However, we’ve found that landlords should generally begin considering outsourcing at around 3-4 properties. This is when managing your finances on a spreadsheet begins to become too tedious and inefficient.

For other real estate businesses, it will vary, but if you’re planning to ramp up quickly, it generally makes sense to get this aspect handled sooner rather than later so you can get a handle on the financial side of your business from day one, and can focus on more important tasks that will grow your business.

While this may sound self-serving, bookkeepers and assistants are typically the first hires successful entrepreneurs to make in their business.

If you engage us for monthly Full-Cycle services, generally yes we will replace your current bookkeeper or accountant. 

However, if you prefer to have an in-house bookkeeper or accountant, we can work with you on Accounting System Implementation and Advisory services.

Most outsourced bookkeeping service providers are generalists and focus on many different businesses and often lack real estate specific expertise.

At The Real Estate CPA, all of our clients are real estate investors or business owners and we’ve developed real estate specific expertise that allows us to provide tailored solutions to our clients in ways most other providers can’t.

Also, because we focus on real estate, this also allows us to not only help our clients with expert real estate bookkeeping and accounting services, but also provide unique financial and operational insights.

In most cases, yes. We wouldn’t be The Real Estate CPA if we couldn’t.

Generally, yes.

Some of our clients simply want us to set up their accounting system then they will take over the monthly accounting function, but still have our Accounting Advisors available should issues arise. 

Others want us to do the system implementation then take over the monthly accounting function so they can focus on growing their business and not worry about handling the monthly accounting themselves or managing an in-house bookkeeper or accountant.

And others have the system and the in-house staff already, but just need accounting support from real estate accounting experts. 

Whatever you're needs are, we have you covered.

The goal of our monthly bookkeeping services is to make bookkeeping as hands-off as possible for you. 

We will generally communicate with you once per month to obtain context on certain transactions that can't otherwise be categorized without your input. We strive to learn from these interactions in order to reduce the time you need to spend on this step as low as possible. 

In many cases, we've had clients delegate this responsibility to an assistant, office manager, or another staff member, further reducing the amount of time our clients need to spend on this process.

All that said, our Accounting  Advisors are available for you via email support, and by phone/Zoom upon request.

The costs of our services vary based on the size of your business and how long you've been operating without an accounting system.

However, costs are generally as follows:

Accounting System Implementation starts at $500 for new investors and business owners who are just starting out. To as much as $10,000 or more for businesses or portfolios that need a lot of clean-up to be brought up-to-date.

Monthly Full Cycle services start at $200/month and will vary based on the size of your portfolio or business.

Accounting Advisory services are generally customized services that can be performed at an hourly rate or fixed cost depending on the scope of the engagement.

 

At this point in time, we use QuickBooks Online (QBO) as the accounting software in our accounting systems we implement and/or manage for our clients.

QuickBooks Online (QBO) provides all the necessary functions for real estate accounting and is currently our accounting software of choice.

Yes, QBO is currently our accounting software of choice.

At this point in time, we do not work with Xero.

QuickBooks Online (QBO) provides all the necessary functions for real estate accounting and is the accounting software we use today.

That said, this could change in the future but we currently have no plans to implement Xero into our accounting services.

  • Buildium 
  • Appfolio
  • Yardi

Yes, we can help you interpret your financials in order to better understand the financial performance of your portfolio or business and make better decisions.

Ask us about financial dashboards.

 

Yes, we can help you interpret your financials in order to better understand the financial performance of your portfolio or business and make better decisions.

Ask us about financial dashboards.

Yes, we provide payroll services via QuickBooks Online (QBO) and Gusto.

Yes, we can help file 1099s.

Absolutely. We provide tax preparation services to real estate investors and businesses of all types. Click here to learn more.

Most certainly. We provide tax planning and advisory services to real estate investors and businesses of all types. Click here to learn more.

 

To get started please visit our Become a Client webpage. If you fit the description of clients we work with, please fill out a webform and provide as many details about your tax and financial situation as possible.

Generally, we meet with potential clients for an initial consultation to learn more about their situation, if we can help, and if both parties believe it makes sense to work together. 

Whereas the Kick-Off Call is where we meet with clients discuss expectations, collect additional information or documents required to kick-off the engagement after we've decided it makes sense to work together and have a signed engagement agrement in place.

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