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Real estate invoice sample for Planning

not sure how much you're spending on your real estate business then you're not sure how much you're making either you need a realtor expense spreadsheet a realtor expense spreadsheet makes it easier for you to track your cash flow by identifying your major expenses and streamlining your spending without an expense sheet it's difficult to tell whether your real estate business is truly successful or not let's take a look at how to make an expense spreadsheet to help manage and grow your real estate business how to customize it to your needs and how to manage your expenses in the future [Music] what's going on everyone i'm kyle handy a realtor and team leader here in san antonio texas i help teach other realtors team leaders and brokers how to grow and scale their real estate business through digital marketing content creation social media as well as tried and true methods and if you want proven strategies that you can use to get more leads closings and scale your team you'll love this video keep watching before i get started if you could do me a huge favor and hit that like button i'd greatly appreciate it also consider subscribing if you haven't already as i release a new free training three times per week as well as go live every tuesday and you won't want to miss any of it finally if you'd like my free real estate business plan template to track your sales commissions profit and loss net worth and budget head over to kyle handy dot com forward slash business plan to download it today okay now let's get started first things first how do you make a real estate agent expense spreadsheet well you can either use a microsoft excel file or a google sheet to make an expense spreadsheet an expense spreadsheet is simply a listing of expenses usually separated by categories that you then total together it goes hand in hand with your real estate sales tracking spreadsheet as you spend money throughout the month quarter or year depending on how extensive your expenses are note all of your expenses on the sheet as a real estate agent you should be keeping all of your receipts and frequently determining whether an expense is reimbursable or will be non-reimbursable you can later use this business expense sheet to outline your operating expenses determine your income and identify any tax deductions your expense spreadsheet can also serve as a budget if you want to keep a close eye on your expenditures so now let's talk about managing your reimbursable versus unreimbursable expenses it's wise to keep two spreadsheets or at least a separate tab one for reimbursable expenses and one for unreimbursable expenses a reimbursed expense isn't a tax deduction but real estate professionals have to track their reimbursable expenses so they can request reimbursement ideally by project or by the client consider creating a new tab in your reimbursements spreadsheet for each property you can then send this reimbursement spreadsheet to your client as a bill for a guide on 21 popular real estate tax deductions check out my other video that i'll link above so now let me cover some other types of realtor expense spreadsheets that you may need to use so in addition to tax deductions and expenses there are also spreadsheets for real estate investing house flipping rental properties and more the type of expense spreadsheet that you need depends on the type of expenses that you're tracking here are a few types of spreadsheets you might need real estate investment a real estate investor should keep comprehensive reports on each property whether they're investing in commercial real estate or residential real estate deduct your expenses from your income and you'll have your net operating income next house flipping each part of the real estate transaction including closing costs and real estate taxes needs to be factored into the net income of a house flipping company on a project by project basis this is how you'll determine the amount of income tax you'll need to pay landlords a landlord should be able to see how much a rental property is making them based on the rental expenses and the rental income expenses might include property tax insurance and repairs property management a property manager will need to account for any expenses both reimbursed and unreimbursed for the property they manage this budget template may include repair fees employee fees and other maintenance in addition to spreadsheets real estate accounting data can be held in accounting software like quickbooks or a real estate crm some real estate professionals hold on to every credit card receipt other professionals upload their credit card receipts automatically through their smartphones here are some of the advantages of a real estate expense spreadsheet a real estate expense spreadsheet makes budgeting and taxes easier with an expense spreadsheet you can easily see how much a property costs you and consequently what type of cash return you're achieving with a real estate spreadsheet a real estate professional business owner and investor can see every deduction and monthly expense they can also track any personal expense they put into a property that might be a loan to their business landlords can see whether they need to raise the rent on their tenant to break even and house flippers can see whether their projects have been fruitful when it comes time for them to do their tax return each expense category can be transferred to the taxes alright so now here's a good real estate agent expense spreadsheet template you don't need to create a spreadsheet from scratch my realtor expense template will help you start tracking your expenses today just make a copy of the spreadsheet and start adding your expenses right away the link is in the description below accounting is at the heart of the real estate business at the end of the day it's about making more money than you're spending if you want to learn more about how to manage your expenses how to improve your spending and how to increase your income you can always consider accounting classes meanwhile in addition to using an expense spreadsheet consider drawing up a comprehensive budget real estate agents deal with unpredictable income all the time mindful budgeting can certainly help alright so now let's wrap up with the answers to some frequently asked questions what expenses can i deduct as a real estate agent travel meals and continuing education fees are some of the most common expenses for a real estate agent as a real estate agent you're a business most of your business related expenses should be deductible how do realtors keep track of their expenses a lot of realtors either keep track of their expenses on a spreadsheet use a real estate accounting suite or just use a general accounting program such as quickbooks can a real estate agent deduct home office expenses any realtor who works from home should be able to deduct home office expenses generally these are calculated by the square footage of the home office if you liked this video make sure to subscribe to my youtube channel right now just click on the subscribe button below this video also hit that thumbs up button and give this video a like as it helps my videos reach more real estate agents looking to grow their businesses and by the way if you're interested in partnering with me at exp realty head over to my partner page and check out the exclusive benefits you receive i'm passionate about helping agents win i've already partnered with nearly 100 agents across the country to help them increase their real estate business and generate more leads and i'm never too busy for you when you partner with me you receive free access to all of my current and future paid courses which you can find on academy.kylehandy.com additionally you get access to my private facebook community called the dream team where i go live multiple times per week head over to kylehandy.com forward slash partner for more information finally if you've made it this far i want to thank you type hashtag end crew into the comments to let me know that you watched to the end and now i want to turn it over to you do you keep a spreadsheet to track your expenses as a real estate agent how have you found it helpful until my next video be well and get out there and sell some homes [Music] you