Software to store all your home info, from RENT to Expenses...?

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Steve Milford
Lender · Vancouver, WA · Member since 2015 · 482 posts · 316 votes
7y

@Cameron Riley

I use the cloud for doc storage, any will work, each property gets a folder, keep it simple. Then I use Cozy for coordination of communication of fees, leases, expenses.

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  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y

    @Cameron Riley I only have a couple properties, so I use excel and cozy to keep track of everything. I also have stessa but I dont find it user friendly.

    1Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Jason D.

    Needs to be more options for landlords. It’s sad. We have to keep track of many things

    0Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y

    @Cameron Riley there are more options, but they are cost prohibitive unless you own many properties. Until I have more units, the free stuff is all I can justify

    1Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Jason D.

    Fair enough. I don’t want to spend those premiums to cover my 8 homes lol.

    Go the free ROUTE!!!!

    0Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Jason D.

    Jason, sorry to bother you again,

    Cam COZY keep track of expenses?

    0Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y
    Originally posted by @Cameron Riley:

    @Jason D.

    Jason, sorry to bother you again,

    Cam COZY keep track of expenses?

     Yes it can. 

    1Reply
  • Morgan M.
    Northern California · Member since 2019 · 32 posts · 18 votes
    7y

    @Cameron Riley

    I understand avoiding subscriptions but QuickBooks online is $20 a month. The downside is that if you have no accounting experience you probably will need a bookkeeper to help set you up.

    If you feel like going for it:

    1. Set up your chart of accounts: assets, liabilities, equity, revenue/income, expenses. Google these terms and how they are defined in accounting.

    2. Link your banking account

    3. Begin classifying transactions according to your chart of accounts. (This is done in “banking”)

    ===

    If you don’t want to swing for it but like the idea of speeding up reporting from excel you could use “Data Validation” based on a list (YouTube it). If you create your chart of accounts in an excel list you can basically download your banking in excel format and quickly classify transactions with consistency.

    From there you can sum each account and quickly run a profit and loss report.

    I like QuickBooks because as I grow my portfolio I have all the functions I need and I can run year over year reporting. I also like tracking net worth and other financial metrics/ratios.

    1Reply
  • Vincent John Tucci
    Attorney · Irvine, CA · Member since 2018 · 19 posts · 22 votes
    7y

    @Cameron Riley. Stessa.com

    1Reply
  • Jon Schwartz
    Realtor · Los Angeles, CA · Member since 2018 · 952 posts · 1k+ votes
    7y

    @Cameron Riley Another vote here for stessa.com . They also have the best weekly newsletter I receive!

    1Reply
  • Sylvia B.
    Rental Property Investor · Douglas County, MO · Member since 2014 · 1k+ posts · 1k+ votes
    7y

    I have been using Quickbooks 99 since 1999. I know I should update to a newer version, but I really HATE spending money to "fix" something that still works just fine for me. So . . . 

    1Reply
  • Steve Milford
    Lender · Vancouver, WA · Member since 2015 · 482 posts · 316 votes
    7y

    @Cameron Riley

    I use the cloud for doc storage, any will work, each property gets a folder, keep it simple. Then I use Cozy for coordination of communication of fees, leases, expenses.

    2Reply
  • Brian Olencki
    Rental Property Investor · RI · Member since 2018 · 24 posts · 9 votes
    7y

    @Cameron Riley I developed a software for myself and use it to manage my properties. Check it out, I'm always open to feedback and comments. getvillarentals.com

    1Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Brian Olencki

    That’s awesome!!!

    0Reply
  • Jack Young
    Investor · Prince George, British Columbia · Member since 2016 · 62 posts · 12 votes
    7y

    @Cameron Riley

    I understand not wanting to pay a little for something, but there are a few ways you can think of it,

    we spend money all the time for convenience and if you have a program or a system that will quickly allow you to do something and it’s as easy as any of the other things you may normally do out of convenience you would do this too.

    The problem I found was what program do I use? My first step was to ensure I tracked everything!! So I use One Note to make a journal for everything. I track miles, to do lists, receipts and more, much more because it allows me to organize easily, takes great scans of receipts and other documents I may need to access quickly including prospective properties I’ve done research on and is accessible on the cloud. Pretty much everything can access Microsoft. Next I use QuickBooks online and had an accountant set it up. Yes it does cost but so does everything else and it’s a one time thing, you can also call QuickBooks and they will help you for as long as you need as well, at least with the program not as accountants but they are very useful. Taxes is far easier and all that tracking we do is much more accurate and you really only need to check the uncategorized items every so often, of which there are not many after you get to use it more.

    The point is, it’s easier than it’s ever been but you only get to see that after paying a little and making it part of your habits. Do you do all your own work or hire people out? Do you have a dishwasher or wash by hand? I believe it to be on that same level of convenience.

    Hope it helped.

    0Reply
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    7y
    • Evernote
    • Dropbox
    • Cozy
    • QBO
    • Ring Central
    My Online Accountant572 Reviews
    WebsiteView Page
    1Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Daniel Hyman

    Do any of these services offer some free options for landlords w less than 10 unit

    0Reply
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    @Cameron Riley

    QBO and Ring Central are paid subscriptions but the others have free versions.

    My Online Accountant572 Reviews
    WebsiteView Page
    0Reply
  • Justin Juhan
    Member since 2018 · 89 posts · 67 votes
    7y

    Google Sheets.

    Access from anywhere on any device. 

    1Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Justin Juhan

    How much data can it save

    0Reply
  • Justin Juhan
    Member since 2018 · 89 posts · 67 votes
    7y

    @Cameron Riley

    Pretty sure my free google limit is like 15Gb before you need to buy more. That's a TON of spreadsheets.

    I pre-build a spreadsheet for each property and one for mileage.

    When I collect rent or expense something I just open it up on my phone and add the item or mileage. Easy to export as excel or pdf at tax time.

    0Reply
  • Cameron Riley
    OP
    Rental Property Investor · Phila, PA · Member since 2018 · 554 posts · 118 votes
    7y

    @Justin Juhan

    Mileage?!!?

    0Reply
  • Justin Juhan
    Member since 2018 · 89 posts · 67 votes
    7y

    @Cameron Riley

    I have a home office and manage all my properties + do maintenance and rehabs myself.  I had over 2k miles traveled between properties, getting supplies, etc. last year.

    1Reply
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