The Future is NOW. The Future for an Owner Operator Property Management Company is Grant Wierson.
Grant was born and raised in Urbandale, Iowa. He has an older brother that is a scientist, the father is an accountant and mother is a homemaker. Grant has always been passionate about Real Estate, some of which has probably been a result of seeing big beautiful homes while on vacation to the Lake of the Ozarks.
Grant is an avid boat fisherman, and just really enjoys being outside in the summertime.
He attended the University of Iowa, “Go Hawkeyes!” Once he completed his studies, he returned back to his hometown and purchased a home while interning for PricewaterhouseCoopers. You can find Grant’s full LinkedIn profile at https://www.linkedin.com/in/grant-wierson/.
His work experience will show an internship auditing larger insurance companies as well as employee pension plans. This work experience also included tax work completing 1065 partnership returns and returns for high net worth individuals.
While in college, Grant began working for a company that began with about 80 units and in about a year or so grew to 120 units. He helped them to transition from accounting in Excel to the Buildium software which quickly ended up not a good choice of software and subsequently transitioned to AppFolio Property Management software while also using QuickBooks for other aspects of accounting. He remembers how back then the company utilized QuickBooks for some double-entry bookkeeping and even in his earlier years realized this was not a cost-effective solution for clients.
Grant is a Welcome Asset to APM Help
Fast forward to Grant’s experience with APM Help, today he heads a department on the team which consists primarily of Owner Operators and relates well with his previous experience of working as a Controller for Pace Property Management. Grant has a passion for Real Estate and looks forward to building his own Real Estate portfolio.
Grant in is a much better place to advise clients and to initiate a process that positions those clients so that a standard can be set to ensure everything is in AppFolio for the current tax year. He states, “this is important when we’re not helping them with QuickBooks and we’re encouraging them to not do double bookkeeping in QuickBooks.” He tells us, “They are hiring us to be bookkeepers because they don’t have the time, capacity, or skillset to do that.”
Working for the property management industry, Grant gleaned experience in residential and commercial, as well as larger apartment complexes for student housing and really saw some different things such as the big turnover time situations that is a common challenge for property managers. Grant reflects on this as “a strength that I brought to the table in working with clients that have this type of massive turnover.” He told me, “all of this has led to an increased passion for property management.” He gets excited about seeing our clients with positive cash flow as well as an equity standing that builds on a monthly basis and is consistent with the Owner-Operator type of client that Grant caters to. He calls this, “an enjoyable job overall.”
Don’t Shoot the Messenger
However, Grant cautions, “Without solid accounting practices it would be very hard to run reports and analyze your true financial position to understand whether you are willing to take on additional risk, not wanting to default on any of your loans if you happen to come upon a time when there is a larger than expected vacancy.” Spoken like a true accountant, I appreciated the wisdom of this statement and the genuine interest that Grant has for his client’s financial well-being.
Property Management Trust Accounting through the Eyes of Grant Wierson
Grant tells me, “Part of my passion and motivation every day is to maintain complete and accurate bookkeeping or recordkeeping to create complete and accurate financial statements.” Transactions can be recorded in AppFolio but when a property management company is an Owner Operator it is crucial for that business owner to know that items are expensed correctly to reflect on the financials. An Expense isn’t always just an “expense”. An example might be when 10K is spent to remodel a kitchen or a new roof is built: not just an expense that should necessarily be expensed in the current tax year but Grant would advise that the Owner-Operator consult with his CPA to determine if these will be capitalized and depreciated over their useful life based on tax law and the client’s current financial position. “One of my daily efforts, is to make sure that I can provide, at the very least, complete and accurate reports, based on my understanding of what these transactions are so at the end of the day the client and her CPA can get together and make final decisions on things such as capitalization and depreciation.
A Wealth of Information to Share
Are you an Owner Operator? Grant has a wealth of information to share and is available for your consultation questions. If you’d like a free 30-minute consultation to chat with Grant about things such as Capitalization, Depreciation, how to properly record your various mortgage transactions, etc. you can take this time to contact us today for an appointment. There are lots of ways to reach us. You can call (281) 949-8755, email at info@APMHelp.com, or on Facebook please message us to schedule an appointment.