Software to track your rental investment performance

[Wade Luders]

Hi all –

I’m a relatively new RE investor from California and just reached 10 out of state rentals. I use property managers local to the properties so I don’t have to worry about tenant relations, repair requests, etc. as much as if I were self-managing, but I’m starting to struggle with keeping up and organizing the investments.

Does anyone use any software that helps keep track of investment metrics, ROI, property manager communications, etc? I use Quickbooks Online but find it lacking as it relates to the specific metrics I'd like to track for each property.

Things I'd like to track better: property income and expenses over time, ROI / IRR, mortgage paydown / equity buildup, vacancy %, repair and maintenance %, property tax due dates, insurance coverage renewal dates etc.

Currently using Excel but wondering if anyone else is experiencing similar issues or has a solution or specific software application that helps. Considering building something if I can’t find a good off-the-shelf solution.

Thx in advance for any feedback or thoughts,

-Wade

[Soh Tanaka]

While I never used it, stessa.com might be able to do what you are trying to do. Buildium is more for those who manage other people's properties. If you really look deep into QuickBooks, many of the things you mentioned can be done. I personally use QuickBooks, and things I can't do with it like vacancy rate and the equity, I use a separate spreadsheet, and it's not a big deal. In theory, I can probably do everything in a spreadsheet, but like @Lane Kawaoka, I played around too much with it and got too complicated, so I decided to go with QuickBooks.