Seeking Advice on REI Bookkeeping

[Mo Nueman]

Hi everyone,

As a newbie in the world of Real Estate Investing (REI), I'm eager to establish a strong foundation for managing my finances.

To streamline this process and stay organized, I'm seeking recommendations for user-friendly online bookkeeping tools specifically designed for REI. Ideally, the tool would help me effectively track:

• Income generated by each property
• All associated expenses for each property (e.g., mortgage payments, repairs,maintenance)

I'd appreciate any insights you have on reliable and user-friendly tools that meet these needs. Additionally, if there are any resources or tips you'd recommend for a beginner like me to excel in the REI bookkeeping realm, I would be grateful for them.

Thanks in advance for your guidance!

Mo.

[Daniel M.]

Quote from @Max Emory:

Hey @Mo Nueman, I agree with Jake on this one. QBO isn't "REI-specific" but we use it for all of our Clients and prefer it due to its superior reporting features and integration capabilities.

I use QBO for my portfolios as well (been investing since early 2019).

As long as QBO is set up correctly by someone or a firm that understands what's needed for an REI business it works great (better than the REI-specific software in my opinion).

I'm happy to discuss in more detail if you'd like.

Here to help!

We also have a Bookkeeping for Real Estate Investors Course based on using QBO for REIs who want to do their own books (prior to having the cashflow to outsource).

@Max Emory, I'd be interested in learning more about your Real Estate Investors Course based on using QBO for REIs who want to do their own books.