Farmer H is a bit haphazard with the flip house records. You might want to excuse him, knowing of his attention to detail. HOWEVER... he has no problem keeping detailed records in his book for selling certain items which require a federal license. Perhaps that's because he does that on his own, and does not rely on Mrs. HM to shoulder his responsibilities.
Every month, Farmer H gives me a lined sheet of notebook paper where he has recorded his cash expenses. Payments to Old Buddy for hourly work. Fees for lawnmowing. Money required to dump flip house trash at the landfill. Purchases that are small, for which he does not use the Lowe's or Menards credit card. Buying appliances off Buy/Sell/Trade or Facebook.
Farmer H lists his purchases chronologically. States to whom the payment was made. The purpose. And in the final column, for which property. Well. The Double Hovel flip house(s) are on two different streets. So he puts the street name. The QuickFlip house is on a different street. So he puts the street name. But on Sunday, I found six billings for CITY HOUSE. Using the name of the city. Where ALL THREE houses are located. What in the Not-Heaven? Did Farmer H buy another house without telling me?
I tried to call Farmer H at his SUS2 (Storage Unit Store 2). His phone acted like it was not alive. No sound. Not even a busy signal. I sent two texts. Nothing. So then I called again, and he answered. Said he meant CITY HOUSE to mean QuickFlip.
"WHY did you do that? When you have it listed by the street name, right above it and right below it."
"I don't know HM. I just did."
We'll see how much of May's list has such confusing labels. It's already five days into the month. You may think I'm nitpicking, but in reality, each property must have accurate expenses recorded. We only have to pay taxes on the PROFIT when they sell. So money we spend rehabbing them needs to be deducted.
4 comments:
Ooooh, Farmer H made a boo-boo, and he's usually so meticulous. What was going through his head at the time I wonder? I hope it all gets sorted.
River,
Farmer H might stop labeling a cost for CITY HOUSE, but I'm pretty sure he won't write the different houses on separate papers for my convenience. At least the QuickFlip is going away in a couple weeks. Title search has already been started buy Prospective Buyer.
The problem is, there's no incentive for Farmer H to make my "job" easier. Whereas his business is tightly regulated, and detailed records must be kept, or he will have to relinquish his license.
Sometimes I wonder what is going on in the brain of HeWho. Then I realize it must be a scary place and I don't really want to go there!
Kathy,
Stay out! There is no return!
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