Self-Managing, using Quickbooks...Questions

[Dan Gallegos]

Hi All,

I'm looking for an easier way to manage my properties and books. I'm spending too much time with only 5 units. I’m planning to acquire more properties, and I want something that I can scale.

I currently have 5 units that I self-manage.

Unit 1: SFR, 100% owned by me - not held in an LLC

Unit 2-4: Triplex, owned 50/50 by me and a partner - not held in an LLC

Unit 5: Commercial building, 100% owned by me - is held in an LLC

I Currently use separate bank accounts, and QuickBooks files for each property. I collect rent by having the tenants mail checks to my P.O. Box.

I use Quicken to manage/view my personal accounts, but I’m having problems inputting the equity of each property/business into my net worth. any ideas?

Thanks in advance,

Dan Gallegos