Looking to organize my portfolio
I own 12 rentals at this time and always looking to add. I am looking for the best way to collect rent and keep everything organized. Thought about mailing, but then the tenants say they mail it and I don't receive it till the 10th. Driving to collect gets aggravating because i feel i am on their schedule. Any ideas would be appreciated. also looking for an app to organize receipts for repairs and fuel. thanks in advance.
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Evernote will definitely help you organize your receipts and paperwork, with cloud integration so you can photograph receipts in the field with your phone, throw the paper away if you choose, then have access to the images from any device. When I save my receipts and bills digitally, I save them with a title like "Feb water 123 main street $63.54.pdf" so that when tax time comes, I can just scan my list of receipt and bill files and I don't need to actually open each PDF to get the dollar amount. They all go into a folder in my cloud storage, which has subfolders for receipts for costs already tracked in my PM software and another folder for incidental expenses not related directly to any property. Last year was my first year as a landlord for tax purposes and it was pretty easy to find all the info i needed for the CPA quickly and subtotal amounts.