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Updated almost 6 years ago on . Most recent reply

User Stats

108
Posts
42
Votes
Paul C.
  • Atlanta, GA
42
Votes |
108
Posts

What financial metrics do you care about and best way to track

Paul C.
  • Atlanta, GA
Posted

Hi, I own 2 rental properties(1 is SFR and other is a duplex that we are house hacking and living in one side) and have a few questions as I try to get a financial system in place to implement as the business continues to grow:

1) What is the best system to keep track of my finances and the health of my "business"? What software can assist with this, should I use Quickbooks or keep everything in my tenant software(Tenant Cloud)? I do have separate bank accounts for each property and try to use those for all income & expense for that specific property. How should I handle the finances of the duplex as I will be living in one side(Not positive we can afford to pay market rent to ourselves for a few months as we have had some random expenses this month). 

2) What metrics are the most important and ones that you know by heart if someone asks?

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