Real Estate Investing                                                 Canada

It is important to take care of your books when it comes to your rental property. You'll want to keep track of your expenses each month. Make sure you keep receipts and file them accordingly.

It is strongly advised to keep a spreadsheet on your computer and update it monthly. This makes things much easier at year end to file your income taxes. Be sure to include your finances that shows your current assets and liabilities. Keeping this up to date comes in handy when you are looking for that next income property - your banker will appreciate this spreadsheet. It can help you get financing for your next purchase. I will include a link to a sample spreadsheet you can use. In it you will see exactly what you should be tracking.

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Spreadsheet Monthly Tracker

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