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User Stats

149
Posts
164
Votes
Jeffrey Albaum
  • Investor
  • Austin TX
164
Votes |
149
Posts

Do you use software to track property rehabs?

Jeffrey Albaum
  • Investor
  • Austin TX
Posted

I'm currently doing a rehab on a 7 unit multifamily that I own. I have a Google Sheet that I'm using to track different elements of the project but I'm wondering if folks have success using other software that they can share with me? Thank you in advance!

User Stats

71
Posts
47
Votes
Christian Styles
Agent
  • Specialist
  • Cleveland, OH
47
Votes |
71
Posts
Christian Styles
Agent
  • Specialist
  • Cleveland, OH
Replied

Also very interested in this topic, currently using about a million spreadsheets to track renovations and it's all starting to blur together.

User Stats

2
Posts
3
Votes
Replied

I have worked as a construction manager and most recently I am building a software for the construction industry and I can help with some recommendations. 

What is what you would like to achieve and track?

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User Stats

149
Posts
164
Votes
Jeffrey Albaum
  • Investor
  • Austin TX
164
Votes |
149
Posts
Jeffrey Albaum
  • Investor
  • Austin TX
Replied

I want something that I can input a line item, such as "paint exterior", and then add an expected timeline with something that will reach out and give me reminders to check in. So for example, if "paint exterior" is supposed to take 1 week, in 1 week it will send me a notice that it's supposedly been done, so then I can reach out to see if that's true. In a perfect world it will also allow me to input quotes as well as actual cost to complete each line item, so I can get better with each renovation.

User Stats

78
Posts
54
Votes
Ryan Irwin
  • Investor
  • Ankeny, IA
54
Votes |
78
Posts
Ryan Irwin
  • Investor
  • Ankeny, IA
Replied

Great question @Jeffrey Albaum I have been wondering the same thing when managing my flip projects.  Following! 

User Stats

681
Posts
395
Votes
Jake Baker
Tax & Financial Services
  • Investor
  • San Diego, CA
395
Votes |
681
Posts
Jake Baker
Tax & Financial Services
  • Investor
  • San Diego, CA
Replied

@Jeffrey Albaum @Christian Styles

My flipping biz does ~20 projects a year and we track everything post-purchase in QuickBooks Online. 

Separating by classes allows for separate P&Ls for each property. With the products & services feature, you track each 'phase' of the rehab. 

Doing everything in QBO allows me to have visibility on my projects and allows my CPA to easily access the reports for tax prep. I am fan of having everything in as few software as possible.

User Stats

166
Posts
113
Votes
Chris Watkins
Lender
  • Lender
  • Eugene, OR
113
Votes |
166
Posts
Chris Watkins
Lender
  • Lender
  • Eugene, OR
Replied

Does QBO have a good solution for automating the data input (reveipts/invoices) and categorization?

User Stats

38
Posts
20
Votes
Kyle Hendricks
Pro Member
  • Lender
20
Votes |
38
Posts
Kyle Hendricks
Pro Member
  • Lender
Replied

Following. Also just using google sheets but always looking for something better!

  • Kyle Hendricks
  • User Stats

    214
    Posts
    212
    Votes
    Peter W.
    212
    Votes |
    214
    Posts
    Replied

    We use Microsoft project, jira and excel at work.

    What you are looking for are project management tools (for google searches).

    Edit: I am a mechanical engineer-not in construction or real estate.

    User Stats

    282
    Posts
    140
    Votes
    Max Emory
    Tax & Financial Services
    • Accountant
    • 100% Remote
    140
    Votes |
    282
    Posts
    Max Emory
    Tax & Financial Services
    • Accountant
    • 100% Remote
    Replied

    @Jeffrey Albaum, some of our clients have had good experiences with BuilderTrend as a project management software. It directly integrates with QuickBooks Online (which we recommend for your accounting software).

    Happy to discuss further. Best of luck!

    User Stats

    9
    Posts
    5
    Votes
    Shari B.
    • Investor
    • Rockville, MD/Washington, DC
    5
    Votes |
    9
    Posts
    Shari B.
    • Investor
    • Rockville, MD/Washington, DC
    Replied

    I use Monday.com for lots of things and am trying it out as an inexpensive alternative to Google sheets. It does all the things you mentioned you'd like. It's not purpose built for construction and I'm not sure it has any integration with Quick Books. 

    You can create a board for each renovation project and view tasks in a table, GANTT chart, calendar, Kanban, etc. I'm using a board to track a light reno on a new property and it's working well for me. You can also create automations, like when a task has been completed, move it to  completed projects area, other automations, integration with other software. 

    They have a free plan that I use and I can include 1 more person on my team. I have another account where we are using it to manage operations for a website and I'm thinking about getting a pro subscription so that I can have the whole team use it.

    User Stats

    9
    Posts
    5
    Votes
    Shari B.
    • Investor
    • Rockville, MD/Washington, DC
    5
    Votes |
    9
    Posts
    Shari B.
    • Investor
    • Rockville, MD/Washington, DC
    Replied
    Quote from @Marcelle Clements:

    Thanks for updating the link! Looks interesting! It's more than I need at this point, but if I had to do a full construction project or a flip, I'd definitely use it.