Best tools for running the portfolio like a business

[Josh Calcanis]

Fortunately, I have had the opportunity to learn from everyone here on BP while beginning to invest in properties out of state. I live in Seattle right now and have a Triplex and SFH in Orlando FL. Both have positive cash flows and were essentially turnkey properties.

My question as a new investor, is what tools do some of you use to track Capitol expenditures, taxes, etc?

I have a management company doing a great job sending monthly statements of my cash flow less any expenses and provide me with a year end review for tax purposes. I keep most receipts and leases in a filing cabinet, but that is it.

My goal is to purchase one more multi family, hold it, and use the equity and cash to break into a 30 unit complex so any suggestions on tools that can scale with me would be great. 

[Micah Dickson]

I recommend Xero for your financial tracking. With the add-ons you really can run your business with more accurate and up to date data. Best thing is, it is cloud accounting software so you can run your business from anywhere you have an internet connection. 

If you have any questions DM and I can help you figure out what exactly you may need. Thank.