On today’s show we are talking about how to set up the accounting for a construction project. There is a right way and a wrong way to do it. But first.

Send an email to podcast@victorjm.com if you’d like to learn more about the Y Street Capital Storage Fund. Put the word storage in the subject line.

If you’ve been looking for a thoughtful way to invest in storage, the Y Street Capital Storage Fund may be worth your attention. The Fund is currently invested in four storage assets, with additional growth planned for 2026.

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On today’s show, we’re talking about something that sounds administrative on the surface, but in reality can make or break the financial control of a construction project. That is, how you choose your budget categories.

Most people think of a budget as a list of costs. Land, permits, concrete, framing, electrical, plumbing, finishes, done. But that’s not how a construction project behaves in real life. A construction budget is not simply a cost estimate. It is a control system. It is the framework that ties together invoicing, payment applications, loan draw requests, your banking records, your accounting system, and ultimately your reporting to investors and lenders.

If you choose your budget categories intelligently, reconciling all of that can be relatively straightforward. If you choose poorly, the administrative effort multiplies. Not a little, a lot.

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**Real Estate Espresso Podcast:**
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Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
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Ep. 854: Dogs That Hunt Humans

The MeatEater Podcast

Off‑Lead Searching and Electronic Collars

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