My wife and I came up with this spreadsheet to track the expenses and income of each door and each property and all properties as a whole. We currently have one duplex but set up the spreadsheet so that new properties can be easily added and can feed into the master total. I based this off of something that (Josh or Brandon, I can't remember) had uploaded previously but we changed it to break down the individual expenses per unit. Each month has its own tab with line items to enter under column categories.
We currently follow the 50% rule, but I know that everyone does it differently and in the future we may deviate from the 50% rule, so we only entered the straight profit of income minus expenses. We added the extra tabs to break down the individual transactions per door and per property. The tabs are set up so that if you have a multi-family the expense and income from each unit is entered into its own table (example: unit 1, unit 2) and expenses that would encompass the entire property are entered into the last table as "Property Expenses." The Property Expenses table is not a sub-total of the individual unit parts, but is only for expense that are incurred for the entire property, such as lawn care. There is a "Grand Total" line at the end of each property and at the end of each tab which summarizes each property and each tab and then feeds into the master page through formulas.
I would greatly appreciate any suggestions or advice, particularly in the way the types of expenses that I've forgotten about or the way the expenses have been categorized.
@Matt Faix
Thanks,
Brandon
https://www.biggerpockets.com/files/user/BuyHoldFreedom/file/multi-family-income-and-expenses
