By . Tracking Spreadsheet. At Tuesday, May 04th 2021, 09:29:28 AM.
Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. Thats obvious. What isnt so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When youre building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you havent invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area. In most locations you also need to consider taxes. Are these charged up-front? As part of the mortgage loan payments? How frequent are they? When do they actually need to be paid? Are there any accounting costs? Can you use any tax credits or breaks? How do you calculate depreciation if that is a tax deduction? Taxes can be quite complex and you need them in your calculations or your investment value estimates will be incorrect.
You need to keep track of domain names, and if you are writing for online writing platform such as Hubpages, or Squidoo, you need to keep track of all these URLs as well. You also need to keep track of all the pages within your websites. The reason you want to do this is because you will want to continue to build more and more back links to these pages, and if you have them all stored away neatly in one file, you will not have to dig through your site every time you want to create a simple back link. You should also keep track of all articles which you may be writing and submitting to article directories. You can create multiple spreadsheets in one main sheet to have all your information from one domain, or from one niche all in one main spreadsheet file. Once you get going in internet marketing you will soon discover that you have registered with more sites, such as social networking sites, bookmarking sites, affiliate networks, and created more usernames and passwords than you can remember. Spreadsheets are an excellent tool to keep track of all this information. If you are an affiliate marketer, you can use Google spreadsheets to keep track of all your affiliate links; and if you have products to sell, you can use is to keep track all your products and prices.
As a full-time day trader now for nearly six years, I know what a roller-coaster life can be when first entering the market arena. I also know how much easier your trading life can be with the proper tools, tactics and mindset. While all three are extremely important to your overall success as a trader, this article delves into the often neglected record-keeping aspect of your trading business. Why? Again, because it is very often neglected, especially by newer traders who are unaware of the challenges that theyre up against in this business endeavor known as trading - an endeavor that is well known to have a 90% failure rate amongst retail traders. Personally, my early days were akin to navigating a jungle full of killer predators, without a local guide to keep me from harms way. An old trading partner of mine summed it up best when he said, "The Market will eat you up and spit you out and cuddle you back into her arms every day. And when you get fed up she will outsmart you, entice you and bring you back all over again." As a novice trader trying to take his pittance from the Wall Street jungle, I found that to be the truth!