Per-property job costing
Every purchase and expense coded to the specific property.
House Flippers · Seattle & Tacoma
Per-property accounting and true-ROI reporting for house flippers
Every flip is its own P&L — acquisition, rehab, holding costs, financing, and sale — and the flippers who scale are the ones who know their real per-deal ROI within a week of closing, not six months later. We keep the numbers airtight per property so your next offer is priced on actual data, not gut feel and a spreadsheet from the last one.
Why house flippers accounting is different
Flipping accounting is really inventory accounting for real estate: acquisition, rehab, and holding costs all capitalize to the property's basis, then hit COGS at sale. A generic bookkeeper who expenses rehab labor and materials as they're paid will show you losing money every month you own a house and making a huge profit the month you sell — which is wrong for taxes and useless for measuring deal-level performance. We keep every property on the balance sheet as inventory until closing, then produce a real per-deal P&L at sale.
Our house flippers accounting workflows are built on the principles taught by IncomeDigs. You can visit their website or watch their trainings on YouTube.
What we hear from house flippers
- "Rehab costs spread across cards, cash, and Venmo"
- "Hard-money interest and points not tied to the deal"
- "Holding costs (utilities, insurance, taxes) forgotten at sale time"
- "Multiple properties blended into one messy P&L"
What we handle for house flippers
Fluent in QuickBooks Online, real estate investor tooling.
Hard-money & loan tracking
Interest, points, and payoffs tied to the deal for accurate profit.
Holding cost capture
Utilities, insurance, and taxes tracked per property, not lost in one bucket.
Deal-level ROI reports
Per-flip P&L and ROI so your next deal is priced on real data.
Numbers we track for house flippers
Every monthly report includes the metrics that actually drive decisions in your business:
- All-in basis per property (acquisition + rehab + holding + financing)
- Gross profit per deal ($ and %)
- Days on market vs. days to renovate
- Holding cost per month per property
- Effective annualized ROI (accounts for hold period)
Washington-specific for house flippers
Washington real estate excise tax (REET) applies at every sale and is tiered by price (roughly 1.28% to 3%), plus local REET add-ons in most counties. Frequent flippers can also cross into 'dealer' status for federal tax — treating gains as ordinary income and self-employment tax instead of capital gains — which changes the math on every deal. We flag both issues at closing so nothing surprises you at year-end.
Common bookkeeping mistakes in house flippers
We see these on almost every set of books we clean up. Fixing them is usually step one of onboarding.
- Expensing rehab costs as they're paid instead of capitalizing to basis — creates phantom losses then a phantom gain at sale
- Ignoring hard-money points and interest as basis additions — understates true deal cost by thousands
- Not tracking crossing into IRS 'dealer' status once flip volume increases — surprise SE tax on capital gains
House Flippers accounting — frequently asked questions
What Our Clients Say
74 five-star reviews from construction and real estate businesses across Washington
"Ruvim and his team have been great to work with. They're reliable, responsive, and provide accurate bookkeeping and payroll support. We appreciate their attention to detail and the outstanding work they do!"
"I worked with Ruvim and Ready Accounting for over two years and had a great experience. Ruvim is extremely responsible, reliable, and always on top of things. He built a great system that made reconciling all of our company accounts simple and organized, kept our filings on time, and helped us manage ACH payments to our trade partners smoothly. Ruvim is knowledgeable, responsive, and someone you can trust with the financial side of your business. Highly recommend Ready Accounting to any company looking for dependable and professional accounting support."
"Working with Ready Accounting has been smooth and stress-free. Ruvim is knowledgeable, responsive, and truly cares about your success. Highly recommend!"
"Ruvim is the best bookkeeper there is period. We have used several bookkeepers in the past but no one matched his level. I highly recommend using him."
"We have been with ready accounting for about half a year or so and let me say it's been amazing! Upon opening a business and hiring employees, there was so much things needed to be done where I had absolutely no clue how to do! A friend of mine recommended ready accounting and honestly never looked back! He does an amazing job and best of all, I don't have to do a thing! Thanks ready accounting for being trustworthy and amazing!"
"Ruvim is very organized, thorough and knowledgeable. Excellent communication skills, timely and cares about his clients and their business operations. Highly recommend!"
"Ruvim is an incredibly knowledgeable individual who consistently demonstrates responsiveness and helpfulness. Whenever I have questions, he promptly provides accurate answers, making him an invaluable resource for my business. His understanding of my business accounting needs is unparalleled, and he consistently delivers exceptional results. I wholeheartedly recommend him to anyone seeking reliable expertise and support."
5.0 rating from 74 Google reviews
Want the story behind the stars? Read real client case studies — including a Bellevue remodeler and a Tacoma developer.
Book a call with Ruvim
Tell us about your house flippers business — we'll follow up to schedule a call, usually the same day.
Prefer to reach out directly? We answer most inquiries within a few hours during business days.
Email us
Info@readyaccounting.coCall us
(253) 367-3672