Property Management Software for Investor That Self Manages

[Noah Swank]

Hello Fellow BP Users,

I'm an real estate investor that self manages a portfolio of SFH/MF and small commercial. I've completed demos and research of several of the programs out there (appfolio, propertyware, buildium) but haven't found the comprehensive tool that I am looking for and was wondering what other users like best. My primary goals are as follows:

- Have a tool that automates the tenant mgmt process (the programs mentioned above seem to have this functionality

- Be able to leverage the tool into a property management service provider in the future, also seems to be in realm of these programs

- Be comprehensive for an investor and provide financial analysis. For example, I want to be able to include my cost of acquisition, manage my projects (schedule, bids, communication, drawings) and apply ongoing performance to the basis to calculate IRR, hold value, levered returns, mortgage paydown, etc.

- A tool that has everything in one place for a investor and a fee based property manager. After all, why wouldn't my future investor clients want the same financial information that I want?

Any feedback or experiences are appreciated.

Thanks,

Noah

Petra Investment Partners

[Account Closed]

Actually Noah, your wife must be a Broker, and even though she is a licensed Realtor, (I am too,) I can't do Property Management on my own)  Plus....you can use QuickBooks to do all the things that you want to do. 

• You list the properties as a class
• Then You list the owners of the property as a Customer
• Then List the properties of the owners as a job of the Owners (Customers)
• Then List the Tenants as a job of the rental property.

Example:  If you are a Property Manager

Setup Class Section of QuickBooks as follows

Owner:  James Day  as a class

        12345 His rental Address   as a sub-class

        67896  His rental Address   as a sub-class

Owner:  Michelle Belle  as a class

        8942  Easy Lane Apartments  as a sub class  (The apartment Building)

        8942  Easy Lane Apartments Unit 1   as a sub class   as the unit

       8942  Easy Lane Apartments Unit 2    as a sub class as the unit

IN THE CUSTOMER CENTER you would set it up exactly the same way.  But instead of using the word sub class, in the customer center indenting means "Job"  make it a "Job" of the owner.  Make it a Job of the building.  Make the tenant a job of the building.

Sold Properties  as a class

      List properties that sold as a sub class

Purchased Properties as a class

     List all purchased properties as a sub class

Territory   as a class

      East Side Drive   as a sub class   

You would link all income and expenses to the property you entered in as a class.

You can turn the Estimate forms into Work Orders and link them to the properties (the building).

If you are buying and selling, you could set up a Class for sold Properties, and a Class for Properties Purchased.  You can even have a class called Territories. (If you want to keep track of what territory is making you money. 

You have to have two company files when you are a jack of all trades.  As a Broker you would need one company file for your Property Management Business.

Then you need another Company File to keep track of your investors, Landlords you manage properties for. 

You cannot mingle the two entities. 

So keep all this in mind. 

Nancy Neville