Overview of Onboarding Process

Multi-6-Figure REI Bookkeeper Playbook

Resources

Resource- Real Estate Investing Lingo (3:24)
Resource- REI Bookkeeping Client Questionnaire (Qualifying & Pricing) (24:34)
Resource- Discovery Call Template (23:23)
Resource- Proposal Template (17:18)
Resource- What to Request during Onboarding (Checklist) (11:27)
Resource- Client Smart Card (8:08)
Resource- Depreciation Schedule Worksheet Walkthrough (if you're factoring in depreciation monthly) (11:35)
Resource- Amortization Schedule Worksheet Walkthrough (Loan/Finance Charges) (6:23)
Resource- Recording Opening Balances - Video 1 - Overview (22:05)
Resource- To Capitalize or Not Cheat Sheet for Rental Properties (18:18)
Resource- 1031 Exchange: What is it & How do we code it? (17:53)
Resource- Coding Year-End Equity Adjusting Journal Entries (14:18)
Resource- What is a Vision and Why it is Important (7:31)
Resource- 13-Week Scoreboard (Key Performance Indicators) (17:10)

Module 1 - Welcome & Introduction to Serving Real Estate Investors!!!

Welcome & Introduction!!! (3:38)
Course Execution Outline & Timeline (3:23)
What's Unique About Serving Real Estate Investors? (15:53)
Real Estate Investing Lingo (3:24)
Module 1 Quiz

Module 2 - Marketing to Real Estate Investors

Marketing Module Introduction: What is Marketing & Why is it Important? (6:31)
Who are Real Estate Investors & what motivates them? (10:27)
Branding Introduction (18:28)
3 Beginner Marketing Principles (10:45)
Where to Find & Network with Real Estate Investors (12:58)
Should You Market In-Person or Online? (15:34)
How to Find In-Person REI Events (meetups, masterminds, & conferences) (15:04)
Where to Network with REIs Online (5:18)
What is an Online Presence and Why is it important? (13:05)
Social Media Marketing Introduction (13:08)
Social Media Content Production Tips (12:20)
Social Media Management System Walkthrough (6:18)
Facebook Marketing Starter Walkthrough (20:14)
Biggerpockets Marketing Starter Walkthrough (19:30)
How To Track Prospective Clients & Stay Top of Mind With Them? (CRM: Customer Relationship Management) (16:23)
Keepful Walkthrough: Customer Relationship Management (CRM) Software (14:23)
Mailchimp Walkthrough: Customer Relationship Management (CRM) Software (15:59)
Favorite Way to Get New Clients (12:27)
Importance of Testimonials & How to Get Them (11:05)
Website Walkthrough (21:04)
Weekly Marketing Key Performance Indicators (KPIs) That Have Worked For Time Capital Bookkeeping (16:08)
Module 2 Quiz

Module 3 - Sales Process & Tactics

Introduction to Selling (2:35)
Qualifying a Real Estate Investor Prospective Client (11:19)
REI Bookkeeping Client Questionnaire (Qualifying & Pricing) (24:34)
Discovery Call Template (23:23)
Proposal Template (17:18)
Sales Philosophy That Has Helped Me #1: Speed to Lead (14:15)
Sales Philosophy That Has Helped Me #2: Collaboration over Negotiation (7:58)
Sales Philosophy That Has Helped Me #3: Volume Game (13:34)
Sales Mistake #1: Calls with unqualified prospects (8:13)
Sales Mistake #2: Not truly believing in your product/service (8:34)
Sales Mistake #3: Not knowing who you're talking to prior to the call (6:53)
Sales Mistake #4: Talking too much (9:00)
Sales Mistake #5: Not getting ahead of objections (10:16)
Objection Overcomer #1: Seek to understand, not to argue. (7:59)
Objection Overcomer #2: What happens if you do nothing and continue on your current path? (10:26)
Objection Overcomer #3: What makes it worth it? (7:52)

Module 4 - Onboarding a Real Estate Investor Client

Overview of Onboarding Process (8:12)
Onboarding Intake Form (8:09)
Onboarding Shared File to Collect Information & Documentation (8:15)
What to Request during Onboarding (Checklist) (11:27)
Client Smart Card (8:08)
Importance of Concurrent Actions (6:43)

Module 5 (Bonus Content) - Common Real Estate Investor Documents

HUD Statements Overview (8:40)
Loan Statements Overview (6:21)
Promissory Note Overview (6:24)
Amortization Schedule Overview (9:14)
Line of Credit Statements Overview (HELOC in this example) (4:37)
Property Management Statements Overview (6:56)
Venmo/Cash App/Paypal/etc Exports Overview (8:22)
AirBnb & VRBO Exports Overview (9:49)
W9 Form Overview (2:57)
Receipts Overview (3:28)
Cost Segregation Study (15:48)
Module 5 Quiz

Module 6 - Setup a Real Estate Investor's Accounting Structure

Modifying All Settings in QuickBooks Online (11:52)
Coding Flips versus Rentals Introduction (5:45)
Custom REI Chart of Accounts Walkthrough (13:45)
How to Import Custom Real Estate Investing Chart of Accounts into QuickBooks Online (9:32)
Freeing up accounts within the Chart of Accounts (if more accounts are needed) (7:33)
Linking A Bank Account & Credit Card Account to the Bank Feed (10:13)
Creating Rental, Flip, & Wholesale Properties using the Customer Feature (16:09)
Creating Recurring Vendors & Customers (4:45)
How to Create & Delete Businesses, Classes, etc (5:15)
Creating PITI Escrow and Loans by Property Custom Reports (great for reconciling) (6:40)
Depreciation Schedule Worksheet Walkthrough (if you're factoring in depreciation monthly) (11:35)
Amortization Schedule Worksheet Walkthrough (Loan/Finance Charges) (6:23)
Module 6 Quiz

Module 7 - Clean-Up & Monthly Maintenance

Recording Opening Balances - Video 1 - Overview (22:05)
Recording Opening Balances - Video 2 - Form 1040 (Personal Tax Return) (17:45)
Recording Opening Balances - Video 3 - Form 1120S (S Corporation Tax Return) (22:15)
Recording Opening Balances - Video 4 - Form 1065 (Partnership Tax Return) (24:39)
To Capitalize or Not Cheat Sheet for Rental Properties (18:18)
Understanding Earnest Money Deposits & Common Scenarios (9:53)
How to code a Flip property Purchase HUD statement (16:22)
How to code a Flip property Sale HUD statement (14:39)
How to Record the Adjusting Journal Entry after a Flip property has been Sold (11:40)
Coding a Flip Profit "Split" Distribution to a Partner (10:32)
How to code a Rental property Purchase HUD statement (24:11)
How to code a Rental property Refinance HUD statement (21:15)
How to code a Rental property Sale HUD statement (25:20)
How to code a Wholesale (3:55)
Coding a Property Management Owner Statement (including Balances that carry over from month to month) (20:56)
Coding Venmo/Cash App/Paypal/etc Exports (11:36)
Coding AirBnb & VRBO Transactions from Exports (13:41)
Coding Rental Income through bank feed (2:11)
Coding & Splitting a Loan Payment between Principal, Interest, & Escrow (PITI) (9:41)
Coding a Rehab/Construction Draw from a Lender (6:17)
Purpose of "Ask My Accountant" accounts & How to export them (10:16)
How to Record/Review Receipts (4:09)
How to Categorize Travel Costs in Different Scenarios (6:09)
Module 7 Quiz

Module 8 (Bonus Content) - Odd Scenarios Encountered with Real Estate Investors

How to code Two Properties on One Sale HUD Statement (1 Flip & 1 Rental) (22:45)
1031 Exchange: What is it & How do we code it? (17:53)
Seller Finance Notes Receivable Scenario (REI sells property but holds note for buyer) (11:52)
Property-Type Change: Flip to Rental & Rental to Flip (15:40)
Subject-To Financing: What is it & How do we code it? (11:52)
Splitting a Contractor's Receipt/Bill (3 Common Scenarios) (18:53)
Joint Ventures - Video 1 - What is a Joint Venture in Real Estate Investing? (6:55)
Joint Ventures - Video 2 - Flip Property Joint Venture Scenarios (26:07)
Joint Ventures - Video 3 - Rental Property Joint Venture Scenarios (29:46)

Module 9 - Month-End

Month-End Documents You Need (7:10)
Coding Cash on Hand transactions (7:38)
Coding Month-End Depreciation & Month-End Amortization (13:03)
Coding a Loan (PITI) Escrow Property Insurance and/or Property Taxes payment (Lender-paid) (7:03)
Coding Payroll Statements & Transactions (14:19)
Reclassify Feature Within QBO (6:23)
Reconciling Financial Accounts at Month-End (8:34)
Reconciling Notes Payable & PITI Escrow balance per Property (9:11)
Producing Financial Reports & Saving Custom Reports (5:12)
Producing Financial Reports per Property or Multiple Properties (9:50)
Module 9 Quiz

Module 10 - Year-End

How To Stay Proactive for Tax Season (8:02)
Pulling a 1099 Form List from QuickBooks Online (19:02)
Coding a Cost Segregation Study Results (10:46)
Coding Year-End Equity Adjusting Journal Entries (14:18)
Coding the Tax Professional's Year-End Adjusting Journal Entries (13:05)
Reconcile Property Balance Sheet Accounts to Previous Tax Return (& All Other Balances) (16:25)
Module 10 Quiz

Module 11 (Bonus Content) - Quality Control Process for Real Estate Investors

Introduction to Quality Control Process (3:12)
Pre-QC: Transaction Review Section Overview (Keeper) (11:19)
Pre-QC: Payee/Entity Review Section Overview (Keeper) (7:32)
Pre-QC: Account Reconciliation Review Section Overview (Keeper) (3:23)
Check Overall Balance Sheet (9:50)
Check Overall Income (Profit & Loss) Statement (4:32)
Check Overall Statement of Cash Flows (3:24)
Check Per-Rental Property Balance Sheet (9:06)
Check Per-Rental Property Income (Profit & Loss) Statement (4:26)
Check Per-Flip Property Balance Sheet (5:50)
Check Per-Flip Property Income (Profit & Loss) Statement (5:15)
Check Per-Entity Balance Sheet (6:25)
Check Per-Entity Income (Profit & Loss) Statement (5:49)
Check Other Custom Reports the Client Requests (4:15)
1099 Check 1 (Keeper) (4:57)
1099 Check 2 (Keeper) (5:42)

Module 12 (Bonus Content) - Basic Advisory Services for Real Estate Investors

Introduction to Basic Advisory Services: What We Currently (11/2024) Offer & Why (12:45)
Review & Interpret: Balance Sheet (14:53)
Review & Interpret: Income Statement (Profit & Loss) (8:42)
How to read a Real Estate Investor's Statement of Cash Flows (SOCF) (16:30)
Review & Interpret: Statement of Cash Flows (16:34)
How to Calculate Cash on Cash Return on Investment (CoCROI) for a Rental Property in QBO (15:46)
Key Performance Indicators (KPI) to Track for Real Estate Investors (19:48)

Module 13 (Bonus Content) - Growth & Organization

Growth & Organization Introduction (5:38)
This business is hard (12:43)
I almost quit this business (23:02)
Core Values (16:01)
What is a Vision and Why it is Important (7:31)
13-Week Scoreboard (Key Performance Indicators) (17:10)
Services We Do Not Offer & Why (for now...) (10:41)
Overview of a proven Technology "Stack" for your Bookkeeping Firm (12:55)
Organizational Chart (23:12)
Your First Hire (6:15)
First Thing I Did to Prepare to Hire People (14:30)
Second Thing I Did to Prepare to Hire People (9:54)
Third Thing I Did to Prepare to Hire People (6:58)
Overview of Hiring Process (26:10)
Leadership Tip #1: Extreme Ownership (9:11)
Leadership Tip #2: Be Humble (10:08)
Leadership Tip #3: Decentralized Command & Control (11:49)
Scaling Tip #1: Remain Focused on Your Client Experience (9:02)
Scaling Tip #2: Hire Thinkers, Not Notetakers (5:18)
Scaling Tip #3: Over-Communicate (7:08)
Scaling Tip #4: Keep It Simple (7:00)
Scaling Tip #5: Prioritize Revenue, Not Number of Clients (5:52)
Scaling Tip #6: Document every process in your business (5:48)
Scaling Tip #7: Structuring your weeks for maximum productivity (15:45)
Scaling Tip #8: Document your successes and failures (4:16)
Scaling Tip #9: Don’t be afraid to fire clients (10:47)
Scaling Tip #10: 80/20 Rule (12:19)

Module 14 - Congratulations & Thank You!!!

Congratulations & Thank You!!! (1:32)
Next Steps... (6:56)

Overview of Onboarding Process

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