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Ep. 13: Real Estate Accounting: Navigating the Challenges with Taylor Hou
Manage episode 371309254 series 3484590
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Our guest is Taylor Hou - the founder and chief happiness officer at APM Help, a company dedicated to empowering local property managers with enterprise-level tools and strategies.
In this episode, we delve into the topic of accounting and clean financials. You'll learn why clean financials are crucial for property managers to achieve long-term success in the real estate industry. Taylor expertly provides tips for evaluating property managers and deciphering the provided financial statements. We also candidly discuss the challenges of property management accounting, and the criticality of choosing the right property management software. Lastly, we explore the potential risks of real estate syndications. After listening to this episode, you'll feel confident in your ability to navigate the complex world of real estate finances.
Key Takeaways
- Stay vigilant about your financial statements and to make sure that you are not being overcharged for services.
- The use of property management software is important for managing real estate investments effectively.
- Understanding the financial statements provided by property managers is crucial to identifying potential problems and maximizing profits.
- Choosing the right property manager for your investment can be challenging, but it's important to find one that is knowledgeable and experienced in real estate.
Time Stamps
Introduction / Taylor's Real Estate Journey (1:14)
Entrepreneurship (4:06)
The Start of APM Help (7:20)
Real Estate Portfolio (14:42)
Cleaning up the Books (19:22)
Property Manager Red Flags (24:35)
Financials (30:01)
Property Management Reporting (35:48)
Selecting and Learning a PM Software (40:42)
About Taylor Hou
Taylor is the founder and Chief Happiness Officer at APM Help, a company dedicated to empowering local property managers with enterprise-level tools and strategies. With a background shaped by growing up as the son of a Realtor/property manager and CPA, Taylor never anticipated becoming a direct reflection of his parents' professional expertise. However, his unwavering commitment to supporting property managers nationwide has resulted in his team successfully assisting over a thousand professionals in running their businesses more efficiently.
When he's not revolutionizing the property management industry through APM Help, Taylor takes on the role of a dedicated tour guide for his three beautiful children, cherishing moments of family joy and exploring the world.
www.apmhelp.com
@hackingrepod
38 episodes
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