All Forum Posts by: Dan Goeckel

They take scanned items or electronic file, IE: excel something like QuickBooks or otherwise would reduce our time around tax time tremendously and free us up for more investigating for properties throughout the year.

We are looking at QuickBooks from the stand point of managing our books, payment of suppliers and tracking building expenses and income. Also looking to automate some of these items. Are there any other “money management” softwares out there that are comparable or better for the price?

We currently use RentRedi and it is good but isn’t terribly intuitive and slightly clunky, but inexpensive. We have been using it for about 4 years now. So to expand into other functions they offer doesn’t seem useful. Great for onboarding of new tenants, rent payments…all the “rental stuff”. We don’t use any of the maintenance functions. We have also used Hemlane and it is great but exorbitantly expensive. We also use excel for all the tracking of incomes and expenses so we know where we stand each month, year, etc.

Thank you in advance for your input.

@Jim Pfeifer thanks! I. Ought Brian Burkes book and saved @Steve S. book. Also plan on reading the Multifamily millionaire and Short Term Rental Long Term Wealth. A lot of reading next few months as we decide directions. Thank you all for your input.

Can anyone recommend a beginners book to syndications in the real estate market?

@Steven Wilson we have for the past few years used Rentredi. For the most parts tenants like it. Slight pain for us from time to time, but it has gotten better slowly. This tenant has some difficulties and she understands how to use Venmo, hence the reason we are using it for her and wondered overall if it is something we should continue to allow or help her to find another way to pay.mi don’t think it will become most of them. We only have two that have chosen to us it. In short not sure we are ready to change platforms right now as summer is the busy moving season and we find ourselves running around a lot. Thank you for the suggestion.

We have been using Rentredi for payment and sometimes cash or ACH. A few tenants have requested using Venmo. Is there any issues anybody knows about in regards to using Venmo?

@Chris Varsek @Angel Moreno

Chris is right. The only caveat I would add and I guess elaborate on what Chris said…if you can afford months of no rent (not likely but possible) or a furnace dying, all the things that are not covered by insurance, yes you should buy for appreciation in property as well as rent. Work two jobs or three to get that extra cash to protect yourself, establish a budget for you personally and at some point do the same for your building. Funny when you do something you didn’t think you could, you find overdrive and the ability to never let it fail even when it is painful.

@Dan Goeckel

The thing to me, to pay attention to is does inflation outpace income inflation, hourly wages. If so there is sure to be struggle following. But it might not feed through for months, except for futures, which ultimately affect now.