Updated over 6 years ago on . Most recent reply
Tips for Bookkeeping By Yourself
Hey all! Hoping to get some advice from my fellow landlords who manage their own properties. I currently have one SFR (4 bedroom) that I rent out room by room. I do my own finance tracking through some basic Excel spreadsheets and I am looking for a better, more efficient way to keep the books. The main goal is to get a finance system working that is intuitive and will allow me one day to outsource it when I grow my portfolio.
One option I have been looking at is using Quickbooks to log all the expenses and income. Would this be a good start and worth the cost?
Do you guys have some tips and lessons learned for a noob landlord like me?
Most Popular Reply
Paying for accounting software is usually recommended if you are planning to scale up.
If you are holding steady at 1 property, a spreadsheet would be fine.
- Daniel Hyman
