OfflineHello my fellow Investors!!!
We are looking for a good Real Estate bookeeping system and wanted to ask if people have any recommendations of what you use and are happy with.
I think most people automatically think Quickbooks but I wanted to know if there is something else out there maybe Real Estate specific that we should look into??
Thanks DG'ers!
Renae & Tyrone
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The Browley Team
Working Towards Success!!
Good question.
I'm interested in hearing suggestions also.
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
It's easy enough to simply use a Excel sheet per property for routine flips or rehab/flips. What I grew out of very fast was using Excel for tracking my offers.
We have begun creating a custom database for that. I've used QB for years in my manufacturing business and I will likely set up for QB for my accounting of flips, rehabs and eventually holds, but it's not a great concern as of yet because each deal has so little bookkeeping and even combining 50 deals in a year is a Excel action-- a glorified check register, really.
Awaiting suggestions from others--
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
I like that idea
It's nice to know that I don't necessarily need anything fancy until my operation gets much larger. I suppose another good follow up question Tina, is what all do you keep track of on your spreadsheet?
I'd like to still hear if anyone else has any suggestions!
Thanks for the feedback Tina!
Renae
The Browley Team
Working Towards Success!!
We use Quickbooks as well. It's what our accountant uses and recommended to us. If we (the wife) enters stuff into quickbooks on a monthly basis, then we don't have to pay the accountant to do it.
I'd recommend that you talk to your account and see what they want you to use.
The more thorough the question, the more thorough the answer.
Please fill out your profile with as much info as you're comfortable with.
Thanks.
We use Quickbooks as well. It's what our accountant uses and recommended to us. If we (the wife) enters stuff into quickbooks on a monthly basis, then we don't have to pay the accountant to do it.
I'd recommend that you talk to your account and see what they want you to use.
The more thorough the question, the more thorough the answer.
Please fill out your profile with as much info as you're comfortable with.
Thanks.
Hi Guys,
I use this software you can get a Free version type of this software go to the link for information
This is Rehab Valuator software again a Free version:
https://tvallc.infusionsoft.com/go/RehabLite/Numar123/
This is Rental Valuator software again a FREE version:
https://tvallc.infusionsoft.com/go/RVLite/Numar123/
This will help you valuate a deal and if you are a landlord you can also look at the value if yopu buy and hold if the deal is good, the reposts are good to use when getting financing or for partners.
Nunzio
http://www.AlistrealtyNY.com
http://www.Any4closure4me.com
http://www.Houseinpain.com
I also like Quickbooks. Thank goodness our local AZREIA meeting teaches how to set it up for real estate investors. For me, it was quite a learning experience and is a little more involved if you've never done bookeeping for a business before.
is quickbooks free if so where can i get one please help
My blessing is on those people who trust in me,
who put their confidence in me. 16
They will be like a tree planted near a stream
whose roots spread out toward the water.
It has nothing to fear when the heat comes.
Its leaves are always green.
It has no need to be concerned in a year of drought.
It does not stop bearing fruit. Jer 17:7-9
Good idea to ask my CPA what I should be keeping record of. I'm sure they would be able to tell me whether it's necessary for me to get QuickBooks.
I don't believe QB is free, but it looks like you can get a free trial from their website.
Thanks to all who gave me their feedback! Gotta love my DG family!
Renae
The Browley Team
Working Towards Success!!