All Forum Posts by: Jeff Stein

My dream is to have a system that has contains that information without me needing to manually make those entries. 

@Zachary Ray

I looked into buildium but ended up on podio since there is more ways to personalize and expand.

@Filipe Pereira

I am just thinking about paid and how much. Google sheets does work, but I like automation if possible

@Marcus Auerbach

You put it very well. As a lifelong resident, The city of MKE os not where I like to invest but the surrounding suburbs are very good.

@Kenneth Garrett

Are you sending invoices from QuickBooks? I currently have my books done in QuickBooks, maybe switching to a more formal accounting system soon as my partner and me are starting a tax and accounting division of our real estate business. 

@Theresa Harris

That’s a really good idea, that’s basically what I have put in a Google sheets. I am trying to expand to 200 units over the next six years and I’m not sure if this is the best way to scale

I am sitting here and mentally preparing for next month and entering all the rent checks and direct deposits into my poorly designed Excel spreadsheet. I wanted to ask as there must be a better way to keep track of rent from each tenant as compared to what I’m doing.

For some background, I am a small landlord in Milwaukee Wisconsin currently 23 tenants who paid with a mixture of physical checks dropped off at the office and online direct deposits and cozy.co.

What ways do you use to keep track of rent, the pros and cons of your way?

@Arjay Estrella

They are getting a commission on the sale. I don’t typically send one, however I am about to buy my third property with one agent. To our relationship we have built over the course of a few years, I plan on sending him a small personal gift just to say thank you.

@Marvin Bobb

My rent collection is split between cozy.co and physical checks mailed of dropped off at the office.

I invest only in small commercial real estate at this time with mostly small entrepreneurs. I found a very interesting trend where many older established tenant at the property are used to mailing checks and resistant to change into cozy.co, whereas new tenants I have signed I don’t mention physical checks and are typically very happy to do online payments.

I have found cozy.co to be very good. The price is right as it is free to you and your tenant as long as they are not using a credit card. The major downside is the delay of receiving funds, but I have not found the five day delay to be any problem that’s far.

@Maricela Chavez I recommend talking to your bank or credit union that your mortgage is with. They may be able to defer all or parts of your mortgage for a few months. It may not solve all the problems, but could give you a little breathing room for a few months.