All Forum Posts by: Tomer Ravid

I'm still wondering, what do clients of property managers who don't use Buildium do? They still need to do their accounting and, I am assuming, create their own cash analysis. 

@Andy D. I also looked into Airbook a while back. I think that some functionality I need does not exist. Also, I hate the fact that for taxation reasons I need to "double" input the information from my PM into my QuickBooks, manually. But that's a different issue. 

Sounds that owners who use PMs with Buildium have a great service!

@Tom Kaider  thanks for the reply. 

Sounds like an interesting solution. Does Buildium allow you to measure KPIs? and provide a variance report for your clients? It sounds like you guys have a lot bookkeeping and accounting work.

I own a small multifamily. I use a 3rd party PM, the property is out of state, and I can't do everything by myself. 

I track my properties using Excel. I look at leasing trends, expenses, my return and a few other metrics. I want to be sure that my property manager is on top of everything. These are all very standard asset management operations that I think every investor should do. 

Every month I get my owner statement, Input it into Excel to create a cash flow report. Then I can analyze it more easily. 

I was wondering how do you keep track of your MF investments? 

I'm looking for advice, I wanted to understand who Multifamily investors solve this: 

I own a small portfolio of Single/ Multifamily properties (50+ units in total). All managed by professional property managers (using Appfolio and a different property management software with a different name). I use QuickBooks for my bookkeeping, and I try to be very diligent about the bookkeeping process.

I use the owner portal to download all my owner reports. I use excel and consolidate all income and expenses for each property (I add my mortgage payments and other landlord expenses) and make sure that my cash accounts reconcile for all my holdings (if there is a problem I call the manager and we try and figure things out).

I use this excel for two things:

Tracking my properties performance - mainly cash flow, cash balance, NOI and just to make sure the PM is on top of everything.

I use this to input the data into QuickBooks (I do this manually).

My CPA is very expensive for Bookkeeping purposes. I tried a VA, but there are too many mistakes. Does anyone have a solution to integrate Quickbooks with the reports from Appfolio and also provide some investment tracking?

I wanted your advice, I own a small portfolio of Single/ Multifamily properties (50+ units in total). All managed by professional property managers (using Appfolio and a different property management software with a different name). I use QuickBooks for my bookkeeping, and I try to be very diligent about the bookkeeping process.

I use the owner portal to download all my owner reports. I use excel and consolidate all income and expenses for each property (I add my mortgage payments and other landlord expenses) and make sure that my cash accounts reconcile for all my holdings (if there is a problem I call the manager and we try and figure things out).

I use this excel for two things: 

Tracking my properties performance - mainly cash flow, cash balance, NOI and just to make sure the PM is on top of everything.

I use this to input the data into QuickBooks (I do this manually). 

My CPA is very expensive for Bookkeeping purposes. I tried a VA, but there are too many mistakes. Does anyone have a software solution to integrate Quickbooks with the reports from Appfolio and provide some investment tracking?

Jeff thanks, I have not manually edited the column names - that's a good idea. The only challenge is (and I had that before) that if I need to query my manager about a particular item, I still need the original column name. 

I was hoping to find a way to improve my lookup table in excel, maybe use some other software. 

Thanks, @Jeff B. I am doing that. But every property software calls expenses in different names for different items. I am trying to track this month by month. It takes me a few hours. I use sumif function but then If I need an explanation from the property manager I need to start manually track the item in the original report. 

I am looking to improve my portfolio and better benchmark my property manager.

I own about 30 rentals all managed by great property managers (I have about 4 different managers, in 3 different states). The problem is that every manager uses a different software to manage the properties and I get very multiple versions of reports.

I am looking for an efficient way to consolidate my reports, cash flow, compare expenses and manage my property managers in a better way then just manually inputting things in excel. I was advised to use QuickBooks, but I am looking for a more simple solution for portfolio management. 

Does anyone have this issue? or even better, a good solution for that?