Income Digs

By Nick Baldo

"Income Diggs" is a podcast focusing on the use of technology to help real estate investors and bookkeepers expand and streamline their operations. The show provides insights into technological soluti... more

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FAQs about Income Digs:

How many episodes does Income Digs have?

The podcast currently has 118 episodes available.

Income Digs episodes:

August 04, 2020 Saving time with Reconciling Journal Entries
In this episode, Nick Baldo offers a tutorial on QuickBooks, focusing on the journal entry technique and its various applications. He discusses transitioning from customer to class tracking, evaluates the effects on profit and loss reports, and presents a case study on capital improvements tracking. The episode concludes with the benefits of this method.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Journal entries are extremely powerful. I know they're a bit tedious...and maybe even confusing. But they can save you a bunch of time.
Let's say you've been tracking your books using "Customers" to tag property-specific transactions. Maybe you'd like to switch to "Classes"...
No. Big. Deal.
Check out how I use a reconciling Journal entry to quickly "move" funds from one method of property tracking to another!
(0:00) Introduction to QuickBooks tutorial
(1:08) Overview of the reconciling journal entry technique
(2:33) Transition from customer tracking to class tracking in QuickBooks
(5:10) Start of journal entry method for transition
(7:28) Evaluation of the transition in the profit and loss report
(9:07) Exploration of other applications for the journal entry technique
(10:47) Case study: Transitioning from tracking capital improvements as expenses to fixed assets
(12:28) Conclusion: The benefits of using the journal entry technique
(13:17) Sponsor: Real Estate Accounting Boot Camp.
...more
14min
June 12, 2020 How to Edit Existing Podio Items with Momentum Dynamic Forms!
In this episode, Nick Baldo introduces and explores Momentum Dynamic Forms, a tool that enhances Podio's user interface. He guides listeners on how to customize forms, create a manual flow, and define form variables. He also discusses potential uses outside of Podio, and concludes with a form link simplification and testing.
End to End Podio Training: https://www.incomedigs.com/pcc
Link to Momentum Tools: https://bit.ly/IDformtool
Check out our Podio Templates: https://www.incomedigs.com/get-podio-...
Enroll in Real Estate Accounting Bootcamp: http://bit.ly/reabcourse
Download our guide: https://www.incomedigs.com/qbosetupguide
Web forms have always been a great way to add new items to your database. But what if you could edit existing Podio items with a Web Form? Momentum Dynamic Forms makes it possible! In addition to being an amazing tool for creating powerful web forms, Momentum allows you to create a completely new user experience for both Podio and non-Podio users. Give it a try!
(0:00) Introduction to the episode and overview of Momentum Dynamic Forms
(2:07) Discussing Podio's user interface and how Momentum improves it
(4:00) How to create and customize forms using Momentum
(7:16) Adding item ID to every Podio item and creating a manual flow
(9:17) Defining variables for the form and creating a hyperlink
(13:27) Exploring uses for the form outside of Podio
(14:10) Simplifying the form link and testing
(16:22) Conclusion and preview of upcoming content
...more
17min
June 05, 2020 Podio Hack - Pre-populating Web Forms with Related Field Data
In this episode, Nick Baldo delves into advanced Podio techniques, including the creation of appointments and hyperlinked web forms within a deal on Podio. He discusses the pros and cons of these methods, how to use Globy flow for populating item IDs, and the utility of markdown tables in Podio. The episode winds down with an overview of the upcoming Podio crash course for businesses.
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://www.incomedigs.com/get-podio-...
Enroll in Real Estate Accounting Bootcamp: http://bit.ly/reabcourse
Download our guide: https://www.incomedigs.com/qbosetupguide
As Podio users, we're constantly struggling to navigate and deal with sometimes difficult user experience. There is so much automation...but this automation often requires extra fields and back end error checking/ data validation. This really cool hack helps to resolve these issues by pre-populating Podio's native web forms. You get the best of both worlds: The attractive, simple interface of a web form + an intelligently pre-populated form based on related fields. Enjoy!
Sample Calculation:
@Deal Unique ID (Hidden)
"[CREATE APPT](https://podio.com/webforms/24610797/1...[link-to-sales-pipeline-2]="+@Item ID+")"
(0:00) Introduction to advanced Podio technique
(1:33) Using glowy flow to create an appointment in Podio
(3:37) Checking the appointment creation and discussing downsides
(5:25) Creating a hyperlinked web form within the deal on Podio
(7:51) Populating the item ID with Globy flow and updating the URL
(11:49) Prepopulating the deal from the item ID in the web form
(13:59) Redirecting to the deals app after completing the web form
(14:36) Discussing the use of markdown tables in Podio
(15:10) Closing remarks and promotion of the Podio crash course
(15:29) Building out the Podio course for Business
...more
16min
May 22, 2020 Podio Summary Tables- Display Related App Info
In this episode, Nick Baldo introduces PONIO's advanced functionalities and explains how to use calculation fields in real estate apps. He guides listeners through building a markdown table, defining property values, hyperlinking to properties, and enhancing the Podio user interface. The episode concludes with a Podio crash course.
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://www.incomedigs.com/get-podio-..
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse
Download our guide: https://www.incomedigs.com/qbosetupguide
Podio apps can get long...with seemingly endless scrolling. One solution is to store key information in a secondary app. But then we run into issues navigating back and forth. Enter Summary Tables! Display related app information in a neat, concise table format (and navigate to the app if you need more detail)
Sample Calculation:
var header = "["+@All of Property+"]("+'https://podio.com/incomedigscom/workspace-eewp6y/apps/properties/items/'+@All of Unique ID (Hidden)+")"
var label1 = "Status"
var label2 = "Zestimate"
var label3 = "Bedrooms"
var label4 = "Bathrooms"
var label5 = "Type"
var label6 = "Link to Comps"
var value1 = @All of Status
var value2 = "$"+@Sum of Zestimate.toFixed(0).replace(/\B(?=(\d{3})+(?!\d))/g, ",")
var value3 = @All of Bedrooms
var value4 = @Sum of Bathrooms.toFixed(1).replace(/\B(?=(\d{3})+(?!\d))/g, ",")
var value5 = @All of Home Type
var value6 = "[Zillow Comps]("+ @All of Zillow Comps + ")"
var markdown = header +" | "+ "\n --- | ---\n";
markdown += label1 +" | "+ value1 + "\n";
markdown += label2 +" | "+ value2 + "\n";
markdown += label3 +" | "+ value3 + "\n";
markdown += label4 +" | "+ value4 + "\n";
markdown += label5 +" | "+ value5 + "\n";
markdown += label6 +" | "+ value6 + "\n";
markdown
(0:00) Introduction to PONIO and its advanced functionalities
(1:25) How to use calculation fields in real estate apps
(3:24) Building a markdown table with variables for property status
(6:05) Labeling and defining values for the property table
(11:04) Hyperlinking to the property and adding unique ID
(14:47) Final review of the created property table
(16:02) Enhancing Podio user interface with hyperlinks
(16:22) Sponsor: Podio crash course at incomedigs.com
...more
18min
May 14, 2020 Podio Navigation - How to Use Hyperlinks to Jump Between Apps
In this episode, Nick Baldo dives deep into the advanced usage of Podio. He discusses building and relating apps, automation with GlobiFlow, creating a navigation system, and enhancing user interfaces. He also explains navigating through appointments, inspections, and estimates, utilizing variables, and building tabbed navigation systems.
Code: https://bit.ly/podiocode
End to End Podio Training: https://www.incomedigs.com/pcc
Podio’s user interface can be a major limitation. Apps with a high amount of data can lead to endless scrolling/ getting lost while navigating between app relationships. In this video, I demonstrate how to automatically link apps together and navigate between them with hyperlinks! This allows you to keep your apps simple and only navigate to the supplemental data when you need to!
(0:00) Introduction and overview of advanced techniques in Podio
(2:23) Building and relating apps in Podio: Deals, Appointments, Inspections, and Estimates
(6:08) Automation in Podio using GlobiFlow
(8:20) Creating a navigation system within Podio apps
(15:30) Enhancing the user interface: improving hyperlink appearance and adding headers
(17:25) Navigating through appointments, inspections, and estimates: updating formulas
(19:58) Understanding and utilizing variables in Podio
(20:30) Advanced navigation tips: hiding relationships and using nav links
(22:09) Building a tabbed navigation system within a single record
(22:35) Conclusion and invitation to further resources: incomedigs.com and Podio crash course
...more
24min
May 01, 2020 Syncing with Quickbooks Online- Collecting Rent with Stripe
In this episode, Nick Baldo explores the problem in the real estate industry and introduces Stripe and QuickBooks as a technology solution. He provides a detailed explanation of the payment process, demonstrates AutoSync usage, and discusses tenant management. He examines Stripe's role in rent collection, gives an example of tenant invoicing, and delves into transaction logging and payment submission. The episode concludes with a review of the benefits of Stripe and AutoSync, as well as a look at reporting and analytics features. The show is sponsored by Real Estate Accounting Boot Camp.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Setting up recurring rental payments can be a real hassle! Especially when you try to sync those payments with Quickbooks. Enter Ottosync! Check out this brand new technology that uses Stripe to collect recurring payments from your tenants...and automatically syncs with Quickbooks Online!
(0:00) Introduction to episode and the problem in the industry
(1:44) Introduction to new technology solution: Stripe and QuickBooks
(2:46) Detailed explanation of the payment process
(3:19) Demonstration of AutoSync usage
(5:23) Tenant management in QuickBooks
(6:17) Role of Stripe in rent collection process
(8:22) Example of tenant experience with invoice
(10:24) Transaction logging and payment submission
(12:30) Advantages of Stripe and AutoSync
(13:04) Reporting and analytics features overview
(13:41) Sponsor: Real Estate Accounting Boot Camp
...more
15min
April 24, 2020 Seller Financing- How to account for Notes Receivable in Quickbooks Online
In this episode, Nick Baldo delves into seller financing, discussing its benefits and how to account for it. He offers a thorough review of a previous flip project, details on preparing property for sale, and advice on dealing with realized gains. Listeners will also learn to finalize transactions and conduct post-sale reviews.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Seller Financing is a great strategy for long term, passive income. But how do you account for Notes Receivable in Quickbooks Online? This video demonstrates exactly that! Learn how to record the sale and record the loan to your Balance Sheet!
(0:00) Introduction to seller financing and its benefits
(1:21) Review and accounting of previous flip project
(3:10) Understanding when and how to transfer costs to balance sheet
(5:59) Preparing property for sale and recording the sale
(8:29) Dealing with realized gains and recognizing revenue
(10:46) How to account for cash received at closing
(12:02) Finalizing the transaction: A step-by-step guide
(12:50) Post-sale project review and wrap up
(13:23) Conclusion and preview of upcoming content.
...more
15min
April 09, 2020 How to Transfer Property Ownership in Quickbooks Online
In this episode, Nick Baldo delves into the intricacies of property purchase, renovation, and finance recording. He explains how to shift renovation costs and handle lender reimbursement, introduces key accounting principles, and guides listeners through correcting balance sheet mistakes. The episode concludes with a post-correction balance sheet review and an invitation for listener queries.
https://www.youtube.com/playlist?list=PL89qBCL2vU2sH_RUyXu80vBY5hR8kLBMK
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
It's a common scenario! You purchase property in the name of one business, complete the rehab, then refinance and transfer the deed to a new entity. But how do you follow all of that in your Accounting books! This video demonstrates my exact method for transferring property ownership between entities. Enjoy!
(0:00) Introduction and setting up the scenario
(1:05) Initial property purchase and renovation overview
(2:35) Deep dive into recording closing costs and loans
(7:31) Shifting renovation costs to balance sheet and lender reimbursement
(10:24) Detailed walkthrough of property refinance recording
(15:20) Introduction to fundamental accounting equation and balance sheet discrepancies
(16:22) Concept of analyzing one business at a time and creating intercompany equity
(18:40) Identifying and correcting balance sheet mistakes
(19:30) Post-correction balance sheet review and understanding implications
(20:19) Wrap-up and invitation for listener questions
...more
21min
March 20, 2020 How to Setup Quickbooks Online for Flipping Houses
In this episode, Nick Baldo explores the use of QuickBooks Online for property flipping. He guides listeners on setting up a project, adding transactions, detailing rehab costs, and categorizing holding costs. He also discusses accounting for debt service, analyzing income, cost of goods sold, and net profit, and comparing projected and actual profits.
https://www.youtube.com/playlist?list=PL89qBCL2vU2sH_RUyXu80vBY5hR8kLBMK
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Super Power your Virtual Assistant: https://www.incomedigs.com/sva-waitlist
End-to-End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
So you know how to analyze and plan your rehab/ flip project...but how do you track your actual performance? Quickbooks doesn't intuitively lend itself to strong Rehab/ Flip reporting....UNTIL NOW! Check out my method for setting up Quickbooks Online to report on your Flip/ Rehab projects!
(0:00) Introduction to QuickBooks Online for Flipping Properties
(3:32) Translating QuickBooks to give an exact outlook of property flipping
(8:08) Setting up a project in QuickBooks for property flipping
(11:32) Adding transactions and detailing rehab costs
(15:39) Discussing holding costs and their categorization
(17:56) Selling the property and accounting for debt service
(21:23) Overview of income, cost of goods sold, and net profit
(22:55) Comparing projected profits with actual profits
(24:22) Closing remarks and contact information
...more
26min
March 06, 2020 Real Estate Investing Analytics - Superpower your QBO Data...and so much more!
In this episode, Nick Baldo and Jeri Frank delve into the functionalities of Stratafolio, including its role in managing true cash flow and loans. They discuss the importance of customer feedback in product development, lease management, and how Stratafolio aids in making proactive decisions about repairs. The episode ends with understanding your investment portfolio with Stratafolio and its endorsement by Nick Baldo.
Real Estate Accounting: https://www.youtube.com/playlist?list=PL89qBCL2vU2sab5dEzpwJTZi0zTLjCDXJ
Check out Stratafolio at https://stratafolio.com/
Real-time, accurate data is essential to making pro-active decisions for your real estate investing business. If you're really looking to scale, QBO alone isn't enough! Stratafolio adds real-time financial analytics as well as Loan Mgmt, Operations Mgmt and Investor Mgmt...all in one easy-to-use platform.
In this video, I'm joined by Stratafolio Co-founder, Jeri Frank. Jeri demos her super powerful (and I must say, beautiful) Stratafolio platform to show us how we can have all our crucial investment data right at our fingertips.
I hope you enjoy as much as I did! I urge you to visit the Stratafolio site...you can schedule your very own, personal demo! Also, feel free to comment on any questions regarding the product. Jeri and I will be quick to respond!
Download our Loan Repayment Calculator here: http://bit.ly/2QNV6b8
Check out our Podio Templates: https://www.incomedigs.com/get-podio-..
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse
Download our guide: https://www.incomedigs.com/qbosetupguide
(0:00) Introduction: Welcome and Stratafolio Overview
(5:43) Importance of True Cash Flow and Data Filtering in Stratafolio
(11:15) Detailed Discussion on Loans and Debt Service Management in Stratafolio
(14:17) The Role of Customer Feedback in Stratafolio's Product Development
(23:21) Dynamic Functionality and Hierarchical Structure of Assets in Stratafolio
(31:02) Lease Management and Operational Expenditures Tracking in Stratafolio
(39:17) Proactive Decisions about Repairs: Introduction to Work Orders Feature in Stratafolio
(44:27) Understanding your Investment Portfolio with Stratafolio
(52:22) Who is Stratafolio Perfect For: Asset Classes and Commercial Real Estate Issues
(56:33) Nick Baldo's Personal Endorsement of Stratafolio and Closing Remarks
...more
1h

FAQs about Income Digs:

How many episodes does Income Digs have?

The podcast currently has 118 episodes available.