REI Software thoughts

4 Replies

Hey guys, Im looking for some honest advice on REI software. I don't really know too much about it but I would like to learn more and essentially figure out if its worth it? Thanks

Unless you are doing a huge volume, and you have employees, inputting the data can be more trouble than it is worth. I find using different credit credit cards and bank accounts gives me all the statements and breakdowns I need. Then hand that stuff over to your tax accountant and he/she does the rest.

@Josh Perez I agree with @Bjorn Ahlblad . Software helps if you're doing a particular size and volume of deals. If you're in the residential space - flipping or buy and hold single family - you can easily get away with using the free resources - BP has an excellent library of very basic spreadsheets, Google can provide the rest - and letting your accountants and project managers handle the rest. 

Honestly, if you're organized and plan more than 2 weeks in advance, you're ahead of 95% of the professional investors.