Bookkeeping for multiple properties

[Aaron Law]

Happy New investors!

I currently have 1 commercial property and 1 LTR property. As I'm building my portfolio of real estate I'm wondering what the easiest way to set up bank accounts as well as keeping track of tenant's payments, late payments, taxes, lease agreements, running cash flow estimates, lists of maintenance items to tackle and those that are completed, interest rate on loans, last date refinanced, years remaining on loans, etc. for each property? It'd be nice to have a comprehensive review of each property on an on-going basis that's quick to access and see where I'm at with each property. Are there spreadsheets available for this? Software? Quickbooks? How do you all do it? Thank you so much in advance?

[John Underwood]

I easily track over 20 properties in Excel. I have a tab for each property. It is customizable and powerful. It will do things Quickbooks can't. 

My CPA and attorney set up my asset protection. You don't have to have a bank account for each property. Think about 50 properties with 50 bank accounts. That would be a nightmare.

My master LLC owns individual LLC's that own properties. My Master LLC also owns an LLC that has a bank account that receives all income and pays all the bills. All of this falls under a Family Trust.

This is imported into Quicken, but I do the daily tracking and end of year tax preparation from my Excel data.

Formulas automatically give me final numbers for categories.

This is completely separate of my Self Directed ROTH IRA LLC with checkbook control that owns property and seperate of my Solo401k ROTH that just acquired its first property.