I flip about 8 properties at a time and I have 6 investors. Each investors capital is spread out over a few properties. Once I sell one there initial investment as well as there profit goes back to capital I can allocate to a new property. I am about to bring in more investors to do more properties.
I need to make sure I do not over invest in properties, and I would like to have an easier way to keep track of peoples returns and total capital after each project.
Currently I use excel but it is getting a bit out of hand. Does anyone know of any programs that may assist me?
I would be nervous as your client knowing how the books/funds are being managed. Have you ever checked into Quick Books?
Definitely give quickbooks a try. It's much better to use than excel once you get the hang of it.
Thanks for the answers. I am not explaining myself appropriately. Of course I use QuickBooks. However, QuickBooks does not allow me, to my knowledge, the ability to allocate investor finds to a few properties then once sold, automatically allocate there initial invest as well as there profit back to there total investment.
It is not one big pool of capital, each investor is treated differently and some maybe in three projects and some maybe in one. Some investors have a split of profits at "x" percent and some at "y" percent.
Please let me know if QuickBooks is able to handle this.
What if you set them up as owners equity accounts?
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