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Anyone have experience with REI HUB?
I'm trying to find a good program/app to manage collecting residential rents. I have only 3 doors now but I'm getting more soon.
Some one mentioned REI Hub so I'm looking for some user reviews and other suggestions that you may have experience with.
I downloaded the free 30 day trial of REI Hub but I think it will take more time to set up than the help it will provide.
No experience with that one in particular but I can tell you that you are on the right track. I know it seems hard and it will take time but take full advantage of the 30 day trial. That is the only way you will know for sure if this is going to work for you or not. When this 30 day is over, try another one. And another. Look around, put the work and effort into it and see what YOU think is the right one for you.
@Account Closed, curious, what did you end up going with? we're in similar boat...
Quote from @Account Closed:I started using REI Hub this year and it has been fantastic. Having a system tailored to real estate investing and doing everything I would want a bookkeeping system to do has made the financial information I have much more accurate and timely. Also, after learning the system, setting up rules, and learning how to address my specific special situations, I spend about an hour a week managing the books for 35 doors.
I'm trying to find a good program/app to manage collecting residential rents. I have only 3 doors now but I'm getting more soon.
Some one mentioned REI Hub so I'm looking for some user reviews and other suggestions that you may have experience with.
I downloaded the free 30 day trial of REI Hub but I think it will take more time to set up than the help it will provide.
The biggest asset of the system is the REI Hub support. I have had a number of questions (how to handle land contract payments, how to set up security deposit refunds, etc.) and between their online support and responses to my questions via email, I have yet to run into a situation I couldn't address.
If you want double entry accounting, flexibility, and solid support, REI will allow you to manage your rentals on your own.
Quote from @Joe Semifero:
Quote from @Account Closed:I started using REI Hub this year and it has been fantastic. Having a system tailored to real estate investing and doing everything I would want a bookkeeping system to do has made the financial information I have much more accurate and timely. Also, after learning the system, setting up rules, and learning how to address my specific special situations, I spend about an hour a week managing the books for 35 doors.
I'm trying to find a good program/app to manage collecting residential rents. I have only 3 doors now but I'm getting more soon.
Some one mentioned REI Hub so I'm looking for some user reviews and other suggestions that you may have experience with.
I downloaded the free 30 day trial of REI Hub but I think it will take more time to set up than the help it will provide.
The biggest asset of the system is the REI Hub support. I have had a number of questions (how to handle land contract payments, how to set up security deposit refunds, etc.) and between their online support and responses to my questions via email, I have yet to run into a situation I couldn't address.
If you want double entry accounting, flexibility, and solid support, REI will allow you to manage your rentals on your own.
Great advice Joe
Quote from @Charlie Mahlman:
@Account Closed, curious, what did you end up going with? we're in similar boat...
I purchased SimplifyEm. But I took a year and a half before I tried to use it. I don't think it's easy to use. It's too non-intuitive
I have been using REI Hub for a month now. I had to transition from Quicken Home to a double entry system and after some research, I chose REI Hub! I've found it super easy to use, and when I've had questions I can speak to a real person to get the answers. I've emailed questions as well as scheduled a call. I found all the people there to be so helpful and knowledgeable! This is only an double entry accounting program, not a management program...but it is specifically set up for real estate investors! You can do a trial for a month to dip your toe. That's all it took to convince me that it was just what I wanted. I love the fact that you can create rules that match the bank feed so that you don't have to "book" each and every transaction that comes through. I've never used QuickBooks, but after investigating, it seemed that I would have to go with the Desktop version (versus the cloud based version). Because my son is also super involved with our properties, I wanted a seamless interface for him to be able to use. You can invite as many people as you wish to access the software both on their laptops and on their smartphones. With QuickBooks Desktop version, I'd have to copy the file and email it to him each time he wanted to input something on his laptop. Then, he'd have to copy that file and send it back to me! That's too many hoops to jump through.
Thank you to everyone who have commented on REI HUB. I use TurboTenant for my 3 rentals and they recommended REI HUB so I was looking online for reviews. No one has had anything 'bad' to say about it so I think I'm going to sign up! Thank you again to BP members!!