How do you do your bookkeeping ?

Question

I am new to real estate investing. I currently have one property and looking to add others.  I wanted to see what programs or systems others are using to keep track of their sales and expenses.

John Morgan · Answer

@Rob Grooms

I only have 7 SFRs and do it all by hand in a separate folder for each property. I just jot down the expense and throw the receipt in there. Then add up all my expenses at the end of the year. It’s easy and takes two seconds. Maybe I’m old school, but it works for me!

Bill B. · Answer

Quicken does 13 units in two states and personal budgeting easy. It could do 50 units without too much hassle.

Gita Faust · Answer

All depends on your goals. How many properties are you acquire this year? If more than one, start using QuickBooks now.

Johnoson Crutchfield · Answer

In the beginning, you can just keep track of everything with excel..... one property should be easy to track in there.  As you grow, consider tools like Rentigo, Buildium, Rentech, there's lots of them.... Quicken?  Maybe a good question to search the forums there's lots of talk about that on here.

How do you do your bookkeeping ?

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