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Updated over 5 years ago,
Property Budget Tracking
I was wondering if anyone has used something like YNAB for tracking their rental budgets while they are still small. I know it wouldn't really be feasible once your portfolio has grown. I currently use YNAB for all my personal stuff.
My initial thought is to have a budget for each rental property that I own. I would have categories setup for Vacancy, Repairs, CapEX, etc. This way I can budget my percentage of each of those each month and see exactly where I am at dollar wise in each category. Then when an expense comes up I can see exactly how much money I have available to use for that particular expense.
Maybe I am overthinking this a bit as well but trying to iron out all the details for when I jump on my first property.