St. Louis. MO · Member since 2019 · 19 posts · 36 votes
I am closing on my first duplex and plan to house hack, what are the go-to apps to track expenses and collect rent? I would love something with an online portal to give me stats and expense numbers. With that being said, I would prefer free apps as I only have the single property. Any suggestions would be appreciated!
If you have one property just use a spreadsheet. You can collect rent via Venmo if it's under $3000 a month. I manage 50 doors and we don't use any software currently. Don't spend money unless you really must.
@Jake S. I just created a Cozy account and that looks perfect. I've heard good things about Stessa and since Cozy does not have a mobile app, I think I will give that one a try as well, thank you!
@Peter Tverdov I definitely agree about spending the money, but there seems to be free resources out there. As a new investor I want to track my expenses pretty closely so I can make more informed guesses on maintence when I'm analyzing my next deal
@Peter T. do you collect rent for free with Venmo (how do you separate the addresses)
I own some property myself and if the apartments are under $3000 a month, yes that's how I collect it. It's incredibly simple. Then I just log in my spreadsheet that rent was paid for that apartment.