A question for experienced MF investors
I own a small multifamily. I use a 3rd party PM, the property is out of state, and I can't do everything by myself.
I track my properties using Excel. I look at leasing trends, expenses, my return and a few other metrics. I want to be sure that my property manager is on top of everything. These are all very standard asset management operations that I think every investor should do.
Every month I get my owner statement, Input it into Excel to create a cash flow report. Then I can analyze it more easily.
I was wondering how do you keep track of your MF investments?
Most Popular Reply
I am a property manager. Some of my multi-family building owner clients asked me about this, and so our solution was to just put almost every expense thorough our software (we use Buildium). So the property taxes, insurance, everything is paid through the client's settlement account. He just treats us like his CFO. That way, he doesn't need a second set of books. He just prints out all the reports from out software and hands it to his CPA. If you have any questions, feel free to reach out to me.