Investor · Willis, TX · Member since 2008 · 60 posts · 3 votes
I'm looking for a good software program to keep up with note payments. I have a pretty good program now which does the job. Just wondering if there is anyone else out there who has opinions on cash flow programs.
We are currently using Notesmith. It is very useful and it does the job, however I'd prefer something a little more user friendly.
Loveland, CO · Member since 2008 · 1k+ posts · 123 votes
19y
My original copy of Microsoft Excel (1993?) came with a loan amortization schedule. I've just transferred it to each succeeding copy of Excel as I've updated. It's always worked well and it's definitely user friendly
Now that I think back it may have been a "training" part of that Excel as it only had 4 years on it. I just "dropped and dragged" to take it up to 30 years.
Investor · Willis, TX · Member since 2008 · 60 posts · 3 votes
19y
Thanks but I'm looking for something a little more specific. We have a pretty big portfolio of loans. We used excel for a long time but now the bookkeeping is far beyond that.
I'm looking for something that I can use to print out payoffs for title companies, print invoices, and account balances for customers, send 1098 forms at year end, and handle payments that are either early, late or of irregular amounts.
Real Estate Investor · Lubbock, TX · Member since 2008 · 182 posts · 10 votes
19y
J. Harris,
I spoke with a friend today who holds a lot of notes (I'm guessing in the hundreds). He is very thrilled with a program called Contract Collector. He thinks the website might be winningedge.com (I haven't looked yet).
He says the program is very user friendly and that he purchased the technical support which has been very responsive and walks him through any issues over the phone. I'm currently holding four notes and am :D always looking to expand. Everytime I find a property that I think I might hold as a rental, when I run the numbers it makes more sense to sell the property at a good price and hold a note (I have the 4 at 12%). So far I'm having very good luck with the thing and have no intention of selling any of the notes. Mind telling me some of your experience?
Mike Mitchell, Lubbock, TX :D
INCREASE CAPITAL
Investor · Willis, TX · Member since 2008 · 60 posts · 3 votes
19y
Thanks I'll check it out.
We hold over 100 notes but most are on raw land so the notes are small. Since we are in the building business, I'd like to start building for those customers. If the property is the buyer's home, the loan is much more secure.