All Forum Posts by: Michael Nowak

Hi gang, 

I have 12 properties ( mix of multi and single fam) and have been keeping tracking of loan payments and the transactions through the checking accounts in Quicken. Should I also get a book keeper and use quick books? Any suggestions would be great. 

Thanks!

Mike

I am using the Quicken Rental Property version to track my rental properties. For every rental property I am utilizing three accounts: checking account; loan account for the property and an asset account for the property. What would be the transaction to account for deposits when initially buying a property? I am struggling to figure out how to account for the deposits. 

Any help would be great, thanks!

I am looking for tips / suggestions in tracking my rental properties. Is there a good software to use? I am currently using Quicken Rental software for my 3 rental properties, but by the end of the year i'll have 7 properties and am not sure if I should get some better software to help keep tracking of everything. 

Let me know if you have any suggestions.

Thanks,

I am looking to take out a loan on a new property and the bank is asking for the debt schedule for the properties that I currently own and rent out.

1. What exactly are they looking for? What should be the format of the debt schedule?

2. From the bank's perspective, what are they using the debt schedule for?