Rental Software
hello, We are buying our first rental property and was wondering if anyone new of a good software program I should get/have to keep track of the info, $$ and misc???
Thank you so much in advance,
Samantha~ 
I use quickbooks, as it is very versitile and does all the billing and paying of bills.
I have 34 units and will make a "class" for each one.
As far as leases, I use a separate program for that.
I have found that some of the rental software is complex and tons of money.
good luck
Bob1,
If you also use TurboTax, does QuickBooks automatically transfer your year-end information to the correct lines of your Schedule E?
Would you PM me? I would like to discuss this because I am in the process of setting up my chart of accounts in QuickBooks.
Hey,
Quickbooks is really a good software package, BUT with only one house you do NOT need it.
Open up Excel and track your epenses and income there. Basically it would look like a checkboob: date, amount (plus or minus), who it went to, why, etc. If you buy another house, add another sheet for that house. Then add a Summary page in the front of the workbook.
That will cost you nothing and handle 99% of what you need. Quickbooks costs around $200 and you can find better ways to spend your money.
Hello, Thanks for the great response, call me dumb but how do you "open up Excel?" I have WIndows XP. Im still learning all this stuff. Thank you for your help in advance.
Hmm, you probably want to go down to the bookstore and purchase Excel for Dummies (not that you are a dummy or anything). That will ease you into the wonderful world of software spreadsheets.
Quote: how do you "open up Excel?" I have WIndows XP. Excel is just one of the programs in the Microsoft Office Suite. Microsoft Office is a separate software bundle that is not found in Windows XP.
You will have to purchase MS Office separately.
Hey,
You might have Excel on your PC already.
Go to Start and Programs and see if there is an Icon.
If you don't have it, you might have Microsoft Works (I don't use that, but I think it has a spreadsheet in it).
KISS
QB
QN
MM
Whatever you use remember to have a separate bank account for your business(s) to avoid CO-MINGLING
It is imparative.
Any of your own assets and money need to be "loaned" to the CO or used as Capitialzation for the CO.
What you do not do as much as what you do and how you do it can bite you later in regards to keeping your Business a business.
_________________
Ah.... the Luxuries and trials of being a Investor, think of yourself with so many irons in the fire! Possiblities are unlimited: Web siter, Note buyer, Real Estate seller & buyer, rehabber, builder, problem solver, credit fixer and we are much more[ Edited by Dreamin on Date 08/08/2003 ]