Record Keeping For Rentals

[Neil Krech]

Is there a software/spreadsheet people are using to keep track of rental income and expenses? I have four doors now, but in the process of adding three more. I can see it getting confusing the more doors that are added. Any advice for a newer RE investor?

[David M.]

@Neil Krech

There are other discussion threads on this, but I don't have them handy.  Of course, there is Quicken/Quickbooks which is generally a bear from what I read on the posts.  Another software is called Stessa, and its supposed to be a a freebie designed for rentals.  I just use Excel and keep one worksheet per unit.  My categories are aligned with SchE so at the end of the year my numbers are all ready on my summary sheet.

Good luck.