QBO for Real Estate - Cash at Closing Does not Equal Profit

In this episode, Nick Baldo deep-dives into the difference between profit and cash at closing in real estate. He discusses factors affecting this equation, how to account for expenses and renovations, and recording property sales in QuickBooks. He also explores the significance of adjusting for financed deals, understanding balance sheets, and the implications of bank draws. Lastly, he emphasizes the importance of separating cash at closing from profit and introduces a Real Estate Accounting Boot Camp.