DIARY OF A PROPERTY INVESTOR – DAY 4

I am back in the new office I am creating in one of my commercial properties. I am taking the first floor which I am converting from an open space into 4 offices a kitchen and toilet.  The work is progressing but somewhat slowly because of the demands of other jobs but the basic office is up and running and I have just had broadband installed so I can use it.

To day is when I do my accounts. Boring but essential. I have a bookkeeper who helps me remotely. We can do this using an online accounting package called Xero.  Our system involves me inputting in the accounts data and then the bookkeeper tidies it all up in the correct manner. We can do this because as an online system it can be accessed by anyone anywhere. I have to say I have found it a very good system to use.  I could put the receipts in the post to the bookkeeper but I do not do that for two reasons. The first is that I am nervous to have the receipts going backward and forward by post in case they get lost. The second is I like to put the figures in because it helps me understand what we are spending.

I  have been round to have another look at the mixed us shop and flats. I have noticed some cladding on the walls which may hide problems. I have had further discussions with the Seller and he is keen to sell so I make an offer for £140,000.

Later on during the day I get a call from the Agent to say that this offer has been accepted. Good news.

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