I have an itch that I need scratched and am thinking of converting an Excel sheet that I use to keep track of our rental portfolio, into a really simple web application that I can share with friends.
It keeps track of:
Purchase Price and Date
Current value (I estimate the values once every 1-3 months)
Loan info (rate, maturity date, amortization)
What I get to see as a result of these inputs:
Chart of total portfolio value
Up to date LTV, which helps me make financing or sale decisions.
Is there anything else you would want to see if I were to give you access to this?
Is there some service that is already providing this exactly, so I don't have to do it again?
Zillow lets me keep track of values across my portfolio as well, but it doesn't have these subtle yet important features that help me keep track of my portfolio and so I resort to my own Excel table periodically.
I use Quicken Rental Property Manager for the accounting on my properties but I still have a large Excel document that tracks each one as well.
Not sure I'd want to share this with friends but maybe it would be easier to share using something like Google Docs?
Also, I don't trust Zillow for accurate value numbers so I'd be a bit wary of that. Their own website shows they are off in my market by more than 10% at least 40% of the time.
QuickBooks can handle pretty much everything. Fixed asset management, loans, payments expenses etc. Connect with me and let us see how we can guide you.
I use a paid service called property tracker..... I believe they offer a 1 month free trial.
@Randy Chang , can you send me a link to it? What do you like about it?
Property tracker is pricey... $25 per month.
@Ben Bakhshi I'd be interested in seeing the formatting of your doc. I have a Google Sheet, but it could use more detail. Also I'd like to work such formulas into my PM app.
I was thinking of creating a small web app for a buddy to do something pretty similar. (more of a CRM)
Send me a message, we can chat about the details. I can make an app that leverage Google Drive/Doc for the community.
Don't think something this simple warrants a monthly service cost...
We utilize Buildium.com for our property management. Allows you to run several reports. You can also set it up for doing background checks, and allowing tenants to pay online.. Works very well.
@Darryl D. I'm not sure I'll be charging for this service you might be right.
Leo, can you keep track of your homes appreciation as well?
I was thinking of using Zillow to pull prices... But in reality, it's a horrible way to keep track of prices. It would be better, albeit more time consuming, to manually check prices every month or quarter.
The only middle ground would be to hire a team in the Philippines to run comps and estimate the home value every month or so (that would definitely require a fee, assuming they were worth a half a knuckle).
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