What we usually see when a family reaches its fourth entity
By Chris Greco, Founder and President.
When a landlord or brokerage family reaches its fourth entity, each property has its own books kept differently, intercompany loans nobody documented, and K-1s that are late because the entity books close in March.
A refinance or acquisition then needs consolidated financials and a personal financial statement that take a month to assemble. The lender waits. The rate moves.
One close calendar for every entity, intercompany documented and eliminated, a consolidated monthly package, and a PFS kept current. The CPA gets a clean package in January instead of questions in March.
Chris Greco
Founder and President, CFO Anywhere. CFO for owner-led companies since 2002. Executive MBA, Gies College of Business, University of Illinois.
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