Real Estate Bookkeeping: Must-Have Tips & Tools for Every Rental

Episode #731 Real estate bookkeeping might not be the most thrilling part of owning a rental property, but it’s often the difference between bleeding money each month and earning cash flow you can count on. Today’s guest will show you exactly how to get your books in check so you can make your properties even more profitable! Welcome back to the Real Estate Rookie podcast! Grace Wills is a CPA, a homeschooling mom, and a self-described “risk-averse” investor. So, when her husband suggested they buy an investment property back in 2018, she was skeptical. However, it didn’t take long for that first property to start generating plenty of cash flow, at which point Grace saw that real estate investing was far less “risky” than many other investments. Fast forward to today, and Grace owns a real estate portfolio that’s creating long-term wealth for her family, despite losing money on three different house flips. In this episode, she shares the importance of having a mentor to help you navigate the ebbs and flows of real estate, why bookkeeping is one of the most underrated skills, and some of her favorite tools and software for new investors! Episode Show Notes: https://lnk.to/realestaterookieYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?... 🎉Join us at the BiggerPockets Conference October 2-4 in Orlando. Buy tickets: https://biggerpockets.com/bpcon2026 Buy the Book on Tax Strategies for the Savvy Real Estate Investor : https://store.biggerpockets.com/produ... Sign Up for the Investor Brief Newsletter: https://www.biggerpockets.com/email-s... Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders Real Estate Bookkeeping 101: How to Set Up Your Business for Success: https://www.biggerpockets.com/blog/re... Connect with Grace: https://www.biggerpockets.com/users/g... Connect with Ashley and Tony: Ashley: https://www.biggerpockets.com/users/a... Tony: https://www.biggerpockets.com/users/t... 00:00 Intro 00:43 Buying the FIRST Rental 04:00 Investing with Your Spouse 07:08 3 “Failed” Flips! 11:49 The “Perfect” BRRRR 15:38 Rental Bookkeeping 101 21:50 Find These 4 People! 24:14 Best Tools & Software 28:56 Biggest Rookie Mistakes 35:33 Connect with Grace!