All Forum Posts by: Cynthia DeLuca

It does but it’s landlord software and not the best for handling the money part. I use QuickBooks for my actual account innnfo, in and out. I don’t want to double entry in QB and my landlord software. Basically I use the landlord software for tenants to submit work orders, communicate on other issues, have access to their leases and documents and such. It gives them access to a portal which QB doesn’t, which is why I use both softwares. 

I agree with @Steve Hall  I am a 20 year plus investor and Realtor. I would never hire a Realtor who hasn’t done what they are trying to sell me. It’s like buying a car from a salesperson without a drivers license. If they haven’t done this for themselves, they really don’t understand the process. I feel the same way about property managers. I would much prefer to use a property manager that owns their own rental. They are more cautious about spending your money on repairs and tend to shop more for good deals. Maintenance costs can kill your investment. 

Good luck on your journey, your investments and your career. 

Thank you @Kevin McGuire. I will stick to classes. Almost all my properties are multi-family, so I’m sticking to tracking by the 31 properties, not by doors or that would be an even bigger nightmare for me! 

@Theresa Harris we have owned every type of property you can imagine from single family, duplexes, tri’s, quads, apartment complexes, vacant land and commercial properties. Our strategies have changed over the years but real estate is where it’s at. I wish you success in growing your portfolio. Find what size is manageable to you and stick with it. 

Thank you @Michael Plaks  I use the online version and do utilize the automation of pulling in the data. That’s why it would be nice if when it pulled in the expense, it could pull in the PO number as well. I think I’ll send them that suggestion.  Thanks for your insight. 

Thank you @Simon W. and @Gita Faust  appreciate your responses. 

@Rex Celle Thanks for the info. I owned a large real estate brokerage and property management company that I sold in 2016 and “retired”. That’s when I took over my properties on a personal level and manage them myself. I’m probably one of the few people that love property management, it just doesn’t make sense to have a management software and pay for it when I’m the only owner.

I guess I’m outsourcing the classes through QuickBooks. It would be nice since automation is so popular these days if they could automate the PO systems. Even with management software like Appfolio, you have to manually enter so much stuff. 

Thanks for all the input. This is my first post on BP and appreciate how fast all the responses came in. 

Thank you Carl. This is the answer I keep coming back to, just would like to automate it.

Do you know if there is a way for QB to pull in the PO number we use with our purchasing vendors? Would be great if I could pull that in and then it wouldn't add any additional work. We use the property addresses as our PO numbers.

Thanks!

I am looking for ideas on how you allocate different expenses between different properties. I am property managing my properties and currently have 31 of them, so I'm not getting a cash flow report from a property manager. My bank is asking that I start getting more detailed with my Quickbooks so they can see what each property is doing versus the entire portfolio. I use Tenant software but don't use it for my accounting, only to track tenants and payments, etc. I don't want to create an extra 20 hours of work for myself each week, as we have so many transactions happening. Any thoughts, suggestions, ideas, software options, etc, would be greatly appreciated. Looking to brainstorm here...