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Real Estate Accounting - Purchase Property (Part 3)
In this episode, Nick Baldo delves into the complexities of financing in real estate deals. He explains closing statements, Loan to Value (LTV), mortgage taxes, and recording fees. The episode also covers no-cost loans, cash vs. financing comparisons, adding loans to balance sheets, and the impact of additional costs on journal entries.
Real Estate Accounting: https://www.youtube.com/playlist?list=PL89qBCL2vU2sab5dEzpwJTZi0zTLjCDXJ
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Free Download: https://www.incomedigs.com/chart-of-a...
Visit our Official Website: http://www.incomedigs.com
Learn how to record a journal entry for the purchase of property! This video expands on Part 1 (https://www.youtube.com/watch?v=OQsHvoIeG5U) and Part 2 (https://www.youtube.com/watch?v=yUrX7KYQ5xc ) as we show you how to deal with financing at the closing table. We look at a loan from a private investor and how to ensure that your accounting books match the closing statement
(0:00) Introduction and the need for financing in real estate deals
(1:30) Understanding the closing statement and financing section
(2:26) Loan to Value (LTV) and its significance in real estate deals
(3:17) Mortgage tax and recording fees explained
(3:40) The concept of no cost loan
(4:27) Cash vs. Financing: A comparison of cash needed to close
(5:30) Adding the loan to the balance sheet and adjusting journal entries
(6:59) Additional costs associated with financing and their impact on journal entries
(9:22) Conclusion: Wrap up of the series on journal entries for property purchase.
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By Nick BaldoIn this episode, Nick Baldo delves into the complexities of financing in real estate deals. He explains closing statements, Loan to Value (LTV), mortgage taxes, and recording fees. The episode also covers no-cost loans, cash vs. financing comparisons, adding loans to balance sheets, and the impact of additional costs on journal entries.
Real Estate Accounting: https://www.youtube.com/playlist?list=PL89qBCL2vU2sab5dEzpwJTZi0zTLjCDXJ
End-to-End Accounting Course: https://www.incomedigs.com/reab2 (Enter Code YOUTUBE50 for $50 off!)
Free Download: https://www.incomedigs.com/chart-of-a...
Visit our Official Website: http://www.incomedigs.com
Learn how to record a journal entry for the purchase of property! This video expands on Part 1 (https://www.youtube.com/watch?v=OQsHvoIeG5U) and Part 2 (https://www.youtube.com/watch?v=yUrX7KYQ5xc ) as we show you how to deal with financing at the closing table. We look at a loan from a private investor and how to ensure that your accounting books match the closing statement
(0:00) Introduction and the need for financing in real estate deals
(1:30) Understanding the closing statement and financing section
(2:26) Loan to Value (LTV) and its significance in real estate deals
(3:17) Mortgage tax and recording fees explained
(3:40) The concept of no cost loan
(4:27) Cash vs. Financing: A comparison of cash needed to close
(5:30) Adding the loan to the balance sheet and adjusting journal entries
(6:59) Additional costs associated with financing and their impact on journal entries
(9:22) Conclusion: Wrap up of the series on journal entries for property purchase.