Just wondering what everyone seems to be using to track profit, expense, etc… Is there something specifically geared toward real estate or just use quickbooks?
I’ve seen ads for all these “landlord” software programs in which it can evaluate this and evaluate that, just not sure if that’s all bogus and if I even need anything more than MS excel and a calculator.
I use the quickbooks online for free!
Tracks up to 20 tenats for no cost.
Already has all the correct forms, accounts, etc. set up.
I love it. And I was an accountant.
never done the online thing, but it’s hard to beat quickbooks bang for the buck. I’ve run a $6,000,000 company on quickbooks. Almost nothing it won’t do.
I had to upgrade to QB Pro 2009 from the basic program. The ability to separate different properties by classes allows me to properly track everything. I found Pro for about $90 or so on Amazon.
My business partner’s background is in IT database administration, and he’s pretty much a Microsoft Excel wizard, so he created a SWEET spreadsheet program for analyzing properties. It’s got tons of stuff built into it, and calculates profits, NOI, Cap rates, amortization schedules, etc, etc…