Looking for advice on tracking expenses, property acquisition...
Good Evening, I am 21 years old in upstate NY. I own 2 rental properties. 3 are long term units and 1 is an Airbnb. I am working on my third deal now! Anyway I am looking for some advice/ opinions on how to track my expenses. What are some good platforms/applications to track basically everything. I am currently looking at Stessa and Quickbooks. Does anyone have experience with either of these or maybe something better? Any input would be greatly appreciated!!
Quote from @William Bowers:I have QBO and honestly am seriously looking at Stessa. If you had an accountant keeping your books they would want such a tool, but honestly I don’t use 90% of the features and the cost just seems over the top when you can get good daTA from Stessa or landlord tools like Rentec or Avail.
Good Evening, I am 21 years old in upstate NY. I own 2 rental properties. 3 are long term units and 1 is an Airbnb. I am working on my third deal now! Anyway I am looking for some advice/ opinions on how to track my expenses. What are some good platforms/applications to track basically everything. I am currently looking at Stessa and Quickbooks. Does anyone have experience with either of these or maybe something better? Any input would be greatly appreciated!!
Quote from @David Lee Hall, III:
Quote from @William Bowers:I have QBO and honestly am seriously looking at Stessa. If you had an accountant keeping your books they would want such a tool, but honestly I don’t use 90% of the features and the cost just seems over the top when you can get good daTA from Stessa or landlord tools like Rentec or Avail.
Good Evening, I am 21 years old in upstate NY. I own 2 rental properties. 3 are long term units and 1 is an Airbnb. I am working on my third deal now! Anyway I am looking for some advice/ opinions on how to track my expenses. What are some good platforms/applications to track basically everything. I am currently looking at Stessa and Quickbooks. Does anyone have experience with either of these or maybe something better? Any input would be greatly appreciated!!
Thank you David!
I use Stessa and love it. It actually has taught me a lot about book keeping specifically for real estate investors. It also helps me to ask better questions with my accountant as to what I can write off and what I can't. Plus... it's FREE! So I strongly recommend it. :)
I recommend purpose-built property management software over Quickbooks. QB is great for general accounting but lacks some of the industry-specific features like online rent collection, tenant screening and rental accounting.