What Mark Ijlal Should Not be Doing Everyday Explained In 8 Easy Steps:

Whoa, I got a barrage of emails, all asking for more explanation on my Not To Do List. So here it goes:

Not To Do Item #2: I will not wast my time doing Quick Books or accounting.

My CPA for a very fair charge comes to my office twice a month, goes through my Quick Books, enters all the checks that I wrote, make sure that they are correctly categorized, reconciles my bank accounts and so forth. Most CPA’s provide this kind of rudimentary book keeping services to their clients for around $100-$250 per month depending upon the complexity and number of transactions.

Fact of the matter is most small business owners that includes real estate investors by the way are lousy at accounting. But if you ever want to grow your business to critical mass you need to know your numbers.

When I have 5-6 houses going on - I can tell you to the pennies how much I have in each house in seconds by glancing at my Quick Books screen.

But I dont like doing accounts - not the most useful and profitable way to spend my day. So why not outsource it? And spend my time putting together profitable deals?