3rd property... need some help organizing. - Posted by KC Tim

import · August 21, 2003, 10:23pm

Posted by Randy on August 22, 2003 at 14:08:20:

The point was managing property is the same… yours or someone else’s

import · August 21, 2003, 10:23pm

3rd property… need some help organizing. - Posted by KC Tim

Posted by KC Tim on August 21, 2003 at 22:23:37:

I am in the process of buying a 6-plex and am a bit intimidated by the increase in bookkeeping, etc. So far, I’ve only owned Single Family and duplexes (never more than 4 units at once).

Have any of you developed any excel spreadsheets that you would be willing to share that would help me track and manage income, expenses, etc? I find that Quicken and MS Money are too robust for what I think I need.

Thanks!

import · August 23, 2003, 8:40am

Try RentRight @ download.com - Posted by BaldRepublican

Posted by BaldRepublican on August 23, 2003 at 08:40:45:

They have 30 day free evaluation period.

I like it alot and have recommended it to many investors.

import · August 22, 2003, 8:51am

Re: 3rd property… need some help organizing. - Posted by Randy

Posted by Randy on August 22, 2003 at 08:51:56:

Try QuickBooks.
What QuickBooks can do for you
As a property manager, you understand the importance of keeping accurate and easy-to-maintain accounting records. After all, you’re entrusted to keep clear, accurate records of your clients’ properties. Given all the responsibilities you have and the significant amount of paperwork entailed in a property management firm, you need a hassle-free accounting system.
That’s where QuickBooks comes in. QuickBooks will help you meet most of your financial management needs, including:

Tracking each property’s income and expenses
Assessing finance charges for late rental payments
Creating 1099 forms for property owners and other 1099 vendors
Creating purchase orders for repair and maintenance work

import · August 22, 2003, 10:28pm

Re: 3rd property… need some help organizing. - Posted by Dave - PA

Posted by Dave - PA on August 22, 2003 at 22:28:35:

I agree with the idea of quickbooks. When I started I thought I would do a spreadsheet as well. When I kept climbing in properties I found that I would need 100 sheets to track each property by month. You need to track by property for tax purposes and should by month to see your profit(loss). Quickbooks Basic is well worth the small investment.

import · August 22, 2003, 1:20pm

Re: 3rd property… need some help organizing. - Posted by KC Tim

Posted by KC Tim on August 22, 2003 at 13:20:38:

Thanks.

I am not managing others’ property, just my own. I thought I’d just use a spreadsheet since they are easy. I guess I’ll create my own.

Tim