I can easily and consistently track my rental property cash flow each month.

[Rene Hosman]

I’m always looking for ways to measure and track my money, my progress, and my success. Until recently, I’ve been doing so on a series of notes and spreadsheets and it’s been a super manual process with a lot of room for error. Since getting more involved with BiggerPockets and learning from other investors I’ve been thinking more about that notion of working “on my business instead of in my business” and how I can systematize my processes and information to free up my time to be more productive. 

Enter Baselane - maybe you’ve heard of them, maybe this is new to you, maybe you use another product to help track your investments and net worth. But they were new to me! And after speaking with a lot of folks at BPCON2024 I’m realizing this is a niche that some of you in the community are very good at, but most of you, like me, know this is a need but don’t have a good solution. 

Talking to the folks at Baselane, I learned that Baselane recently polled real estate investors to understand how well they track their rental property performance, including key metrics like return on investment (ROI) and monthly net cash flow. Here's what they found:

1. "I know exactly what my return on investment is for my rental properties (e.g., monthly net cash flow)."
Results:

• 72% of respondents strongly disagreed or disagreed with this statement.
• Only 28% agreed or strongly agreed that they can confidently track their ROI.

2. "I know the profitability of my rental property (e.g., take-home cash)."
Results:

• 57% of respondents strongly disagreed or disagreed with this statement.
• 43% agreed or strongly agreed that they know their property’s profitability.

These results show that a significant number of investors feel unsure about tracking their rental property performance, so:

How are you tracking your rental property performance? (not doing it, excel, using software - if so which?)

What impact does this have on the performance of your rental properties and your ability to invest in the next deal and grow?

https://www.baselane.com/landlord-accounting/

[Saad D.]

I feel very strongly about this topic. To be transparent, I work at Baselane. In fact I joined the company to help build a product that can help everyday investors organize rental finances like the pros do. 

I have been use Baselane for the last three years and I like being able to login and at any moment get a very clear picture of my rental earnings for the month. 

Curious to learn from others.