What software to you use?

Question

I was wondering which software you use to manage your rents, notes, or properties?   Quicken is the first thing that comes to mind but I don't think it is specific to what we are looking for.  Any ideas?

Jonathan V. · Answer

Coming from a CPA's perspective, you may save yourself a couple of bucks if you use Quickbooks or Peachtree instead of Quicken... Quicken "can" be a pain at tax time.

I've used MAS 90 before as well, it's OK, but QB and Peachtree are a bit better imho.

Hazel L · Answer

Hey Terry, PM me and I'd be happy to  send over one of my excel spreadsheets for your reference.

Dale Osborn · Answer

If you want a software program off the shelf that will generate pages and pages of data then buy a software program for this. If you prefer designing your own forms all you need is MS-Office. Use Word for doing letters and other standard communications. Use Excel for one page forms that show the data that you need without having to dig through 12 pages of BS. Use Publisher for address labels, business card designs and post cards. Why buy a separate software program that costs you more and generates too many unneeded pages of data when you have all the tools you need in one package??

Realtyman

Account Closed · Answer

I use Notesmith and Quickbooks.

Mitch Kronowit · Answer

2nd what most everyone else recommended. I use MS Office (Word and Excel) for most of my records keeping and Quicken for my bank account registers.

Bill Gulley · Answer

Hi, starting out I used Quicken and adopted entries and changed account names to fit my needs.

Later on, I moved to a professional software package. MAS 90, it's awsome! It is an accounting software package that comes in modules. You purchase what you need, G/L and RE is for a real estate office and Development for costruction management. It will take care of business for ANY investor, from your needs to the Simon brothers (OK, better known to most of you would be  The Donald) You do need to understand accounting terms and the appropriate posting for expenses, but I think most would catch on quickly as to the nature of your business. And, no, I don't sell it! LOL, Good Luck, Bill

Terry Drake · Answer

Is there anyone willing to share the spreadsheets they use or a screen shot to get some ideas?

Josh Keys · Answer

Heres an example of my standard property numbers sheet, including ratios at the bottom.            
          
          	 Property A 
          No of units	 4 
          	
          Purchase price	 28,000 
          Renovation costs	
          Cost base	 28,000 
          	
          Downpayment (20%)	 7,000 
          	
          Scheduled Gross rent	 13,500 
          	
          Less: Vacancies	-1,620 
          Less: Property taxes	-1,158 
          Less: Utilities (water, sewer)	-479 
          Less: Any other exps (gas)	
          Less: Insurance	-500 
          Less: Property management	-1,500 
          Less: Repairs	-1,350 
          Net operating income	 6,893 
          	
          Debt service at 7% (principal and interest)	-1,802 
          	
          Annual cash flow	 5,091 
          	
          Min mthly profit per unit ($100 p/m)	 4,800

Other info	
          GRM (cost/rent)	 2.1 
          Cap rate (NOI/cost base)	24.6%
          ROI (after debt  servicing)	18.2%
          Cash on cash ratio	72.7%

Josh Keys · Answer

Ive created an excel spreadsheet that does the basic analysis for me.  It presents:
 - my cash flow after tax
 - cap rate, cash on cash rate, ROI and ROE
 - checks to ensure it meets the 50%, 2% and $100 per door rules (some of this I recently learnt off BP)

I find a simple excel tool very handy to simply plug a few numbers in to work out whether something is a good deal or not.

Luis A. · Answer

Excel does it for me. I track both rentals and rehabs there. It does the job of tracking income/expenses and it can be automated quite a bit. I realize Quickbooks provides better reports though.

What software to you use?

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