All Forum Posts by: Adam Hamilton

Good question @Brian Gerlach - REI Hub and Stessa definitely have some overlap- we both make it easy to track income and expenses, prepare for tax time, and stay organized.

Overall I think the biggest difference is that REI Hub is primarily focused on the accounting arena- we replace QuickBooks for real estate investors. Stessa offers options for quick investment return calculations and benchmarking portfolio performance.

On other fronts- Stessa has been around a bit longer and is a division of JLL, while REI Hub is independent and entered the market this year. Both products are free to try (REI Hub requires a monthly subscription after free trial), so I'd encourage you to sign up for both and see what suits your particular needs and bookkeeping style best.

Please feel free to DM me with any specific questions I can address for you! We also offer all of our users a complimentary setup double check, so if you do sign up I look forward to touching base then.

Hi Maggie!

Were you asking about REI Hub? If so- I work there and can answer any questions you may have!

REI Hub makes accounting software designed for rental property owners and real estate investors. We make keeping the books easier and faster with a unique, property-centric interface, industry specific transaction templates and reports, and personal customer service. Unlike QuickBooks or Xero, we are 100% focused on the rental and real estate industry.

Feel free to message me any questions you may have, or sign up for a free trial to check it out directly. Thank you and I hope to connect soon!

Adam

Hi Matt,

I enjoy the RING (Richmond Investor Networking Group) meetup.  It's on meetup and does have a yearly fee to help pay for the space.  I like the presenter and usually find value.  I agree with Taylor- go to a few in Richmond and you will see a lot of the same faces!  

Hi Mark,

Have you checked out REI Hub? We offer a mortgage template feature to help save time. If you input the current balance, interest rate, and amount of escrow transfer one time, we can use those numbers to auto calculate and categorize those numbers for future mortgage payments.

Disclaimer/disclosure: I am the co-founder of REI Hub.

REI Hub is a brand new accounting and bookkeeping software built from the ground up exclusively for rental property investments and real estate investors. We save investors serious amounts of time, stress, and confusion by taking the guesswork out of how to get set up for real estate bookkeeping. Link your financial accounts to eliminate data entry and streamline your process. Get ready for taxes in a flash with one click Schedule E reports!

Try it for free today!  www.reihub.net

REI Hub is a double entry accounting system built from the ground up for rental property portfolios and real estate investments. If you are tired of manually updating your spreadsheets, or wishing your software handled mortgage payments the right way, we can help. If you are ready to make the leap from spreadsheets to automated software, or if you've ever been frustrated at QuickBooks' limitations or arduous set-up, REI Hub may be a great fit for you!

Similar to standard small business accounting software, we connect to your business bank account, receive a read-only transaction feed, and present these transactions to you for categorization. Unlike traditional accounting software, our entire product is set up and geared exclusively for real estate. This has several substantial benefits for you, including:

• Simplified set-up. With REI Hub, there is no need to customize your accounting software for real estate or update your chart of accounts- we've already done all that!
• Ease of use. We designed the system for real estate investors, not bookkeepers. We have minimized accounting jargon, elevated relevant real estate metrics, and by default report on the portfolio, property, and unit level.
• Accuracy. Mortgage transactions can be automatically split and properly categorized into the right accounts on a monthly basis, instead of as a year end adjustment.
• Organization. Upload and store key documents like closing statements and leases by property. Add and edit notes by units and property. Snap a photo of a receipt and tag it to an expense.
• Time savings. You stand to save a lot of time on your books when your software is simple to set up, easy to use, organized and accurate from the beginning!

We are conducting a free beta for the Bigger Pockets community now through March 31st, 2020. Visit REI Hub to learn more or sign up!

REI Hub is a double entry accounting system built from the ground up for rental property portfolios and real estate investments. If you are tired of manually updating your spreadsheets, or wishing your software handled mortgage payments the right way, we can help. If you are ready to make the leap from spreadsheets to automated software, or if you've ever been frustrated at QuickBooks' limitations or arduous set-up, REI Hub may be a great fit for you!

Similar to standard small business accounting software, we connect to your business bank account, receive a read-only transaction feed, and present these transactions to you for categorization. Unlike traditional accounting software, our entire product is set up and geared exclusively for real estate. This has several substantial benefits for you, including:

• Simplified set-up. With REI Hub, there is no need to customize your accounting software for real estate or update your chart of accounts- we've already done all that!
• Ease of use. We designed the system for real estate investors, not bookkeepers. We have minimized accounting jargon, elevated relevant real estate metrics, and by default report on the portfolio, property, and unit level.
• Accuracy. Mortgage transactions can be automatically split and properly categorized into the right accounts on a monthly basis, instead of as a year end adjustment.
• Organization. Upload and store key documents like closing statements and leases by property. Add and edit notes by units and property. Snap a photo of a receipt and tag it to an expense.
• Time savings. You stand to save a lot of time on your books when your software is simple to set up, easy to use, organized and accurate from the beginning!

We are conducting a free beta for the Bigger Pockets community now through March 31st, 2020. Visit REI Hub to learn more or sign up!

REI Hub is a double entry accounting system built from the ground up for rental property portfolios and real estate investments. If you are tired of manually updating your spreadsheets, or wishing your software handled mortgage payments the right way, we can help. If you are ready to make the leap from spreadsheets to automated software, or if you've ever been frustrated at QuickBooks' limitations or arduous set-up, REI Hub may be a great fit for you!

Similar to standard small business accounting software, we connect to your business bank account, receive a read-only transaction feed, and present these transactions to you for categorization. Unlike traditional accounting software, our entire product is set up and geared exclusively for real estate. This has several substantial benefits for you, including:

• Simplified set-up. With REI Hub, there is no need to customize your accounting software for real estate or update your chart of accounts- we've already done all that!
• Ease of use. We designed the system for real estate investors, not bookkeepers. We have minimized accounting jargon, elevated relevant real estate metrics, and by default report on the portfolio, property, and unit level.
• Accuracy. Mortgage transactions can be automatically split and properly categorized into the right accounts on a monthly basis, instead of as a year end adjustment.
• Organization. Upload and store key documents like closing statements and leases by property. Add and edit notes by units and property. Snap a photo of a receipt and tag it to an expense.
• Time savings. You stand to save a lot of time on your books when your software is simple to set up, easy to use, organized and accurate from the beginning!

We are conducting a free beta for the Bigger Pockets community now through March 31st, 2020. Visit REI Hub to learn more or sign up!

I think Brett was right on the money with his comment above.  Clearly defined criteria, and accepting the first applicant to meet that criteria is the best way.

Completely up to you, but I'd also recommend using a software system to help you advertise and screen applicants.  Cozy and turbotenant are popular and frequently recommended systems that are free for the landlord.

Best of luck!

What is your risk tolerance and how long is your time horizon?  James Mc Ree above is correct about the differences between ETFs and mutual funds.  But remember that neither option is risk free, and no one knows exactly what the market is going to do.  So if you will needs those funds again within a year or two and are unwilling to risk a market drop, you may want to consider a less lucrative but less risky money market savings account.