What software is most commonly recommended/used for the small real estate investor llc?
What specifically are you looking to manage?
word excel quickbooks
Really just looking to manage my LLC in terms of trying to separate expenses from personal and analyze profits and ensure all of my duck are in a row at tax time.
Are you a flipper, land lord, wholesaler? Commercial, residential? Single fam, multi? More details. Quickbooks rules for small bus accounting but it's a general, off the shelf package that needs to be set up specific to your business. You have to be organized enough to separate and track expenses. Software just helps you manage the data once it gets input.
What are you really looking for?
If you're to be a landlord and hold/manage properties for an extended amount of time, then PM-specific software will help you keep track of day-to-day tasks and information particular to your business, in addition to a providing a structured way place to journal your financials.
Here is my extensive list. You weren't specific on what you were asking so I included everything that a small business real estate investor might use.
For managing properties
For analyzing deals and all sorts of neat stuff!
Come on now, everyone needs it!
To track all to dos and capture everything! This one is a must. Integrate it with the GTD system and you'll be in productivity heaven!
Easy way to take screenshots and add to your e-mails or other documents
You gotta step up at some point and make the switch to QB from Excel or something else. Slight learning curve, but once you master it, you'll soon ask why you didn't use it sooner
Very powerful and inexpensive mind mapping software. Comes in handy when you need to map out some ideas.
Premium version so you can host video conference calls with your investors
Great online project management tool and a good price. Also look at Wrike, a bit more expensive but has some additional features.
Great online tool for CRM
Great password management tool. Makes logging onto websites easy!
Allows you to remote into workstations.
I'm sure there are a ton more. Love to hear what others are using.
If you're just looking for the accounting side ie tracking expenses, profit/loss, etc, then I'd go with something like QuickBooks.
If you want something that does both accounting AND tenant life cycle steps (move in/move out, security deposits, tenant portal, work order tracking, etc), then I'd go with an online property management suite like Buildium.
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