Investment Property Software

Discussion in 'Property Information Resources & Tools' started by Muddy, 3rd Oct, 2015.

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  1. Muddy

    Muddy New Member

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    Hi Guys, I have recently purchased my 7th IP & I am now on the hunt for a simple and effective software programme to help keep track of things. What types of software programme does everyone recommend?

    Cheers
     
    Muddy, 3rd Oct, 2015
    #1
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Firstly, grats on reaching 7 IP's, hope your journey continues to be as rewarding as ours has.

    I use excel myself. I setup drop down menus to match each of the ATO's categories (found on their website) and each property address, then each line item is a date, an ATO category, which property it relates to, a description and an amount. On a separate tab there's a summary that simply adds it all up.

    It works for me and my accountant so I'll keep doing it. You need to find what works.
     
    D.T., 3rd Oct, 2015
    #2
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  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Simple old excel does the trick for me too. I've set up a tab for each IP - income on one side, expenses on the other.....all feeds into a summary page at the front. Easy peasy.

    Cheers

    Jamie
     
    Jamie Moore, 3rd Oct, 2015
    #3
  4. Biz

    Biz Well-Known Member

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    Why do you need software to track it all? Besides the insurance my PM's take care of everything and then just send a report with incoming and outgoing at eofy.
     
    Biz, 3rd Oct, 2015
    #4
  5. bob shovel

    bob shovel Well-Known Member

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    NB has software now too! ;)
     
    bob shovel, 3rd Oct, 2015
    #5
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    I use rentmaster.co.nz
     
    Scott No Mates, 3rd Oct, 2015
    #6
  7. Phantom

    Phantom Well-Known Member

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    Hey Scott, are you happy with it? What are fees like?
     
    Phantom, 4th Oct, 2015
    #7
  8. Scott No Mates

    Scott No Mates Well-Known Member

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    I have been using it for years. One off purchase nowadays and updates are now free.

    I have used many of the professional systems and this is pretty good for the price.
     
    Scott No Mates, 4th Oct, 2015
    #8
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    Scott No Mates, 4th Oct, 2015
    #9
  10. Phantom

    Phantom Well-Known Member

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    Cheers mate. I might give the trial a go. :)
     
    Phantom, 4th Oct, 2015
    #10
  11. Matty77

    Matty77 Active Member

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    I am looking at using this mob, you can sign up for a free trial and see how you go, although its not cheap but for your size portfolio may be worth it.

    http://www.realestateinvestar.com.au/

    Like I said, I haven't used them YET, will be next year but I'm not ready yet. If anyone else has any views on Investar that would also be great. ;)
     
    Matty77, 4th Oct, 2015
    #11
  12. House

    House Well-Known Member

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    Sign up for one of their webinars and you can get a 55 day trial for $1 instead of the usual 21 days. I really like it but $99/m for 2 years is a bit pricey when most of the info is out there for free. Some pretty cool tools that help justify the price IMO. Integrated with Xero so save some $'s on accounting fees EOY.
     
    Last edited: 4th Oct, 2015
    House, 4th Oct, 2015
    #12
  13. Simon Hampel

    Simon Hampel Founder Staff Member

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    I use my bookkeeping software (Saasu) for tracking my IPs in my trust.

    Takes a bit of effort - but has the added bonus of letting me see my overall cashflow position and work with budgeting.

    Also makes it very easy for my accountant at tax time (he just logs in to my Saasu account and generates the relevant reports).
     
    Simon Hampel, 4th Oct, 2015
    #13
  14. Matty77

    Matty77 Active Member

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    Yup I have attended a few of their webinars and have been impressed, not quite sure if I am ready for it just yet though, something I will be taking a closer look at early next year.

    Everyone is saying how fantastic Xero is lately...it might be a MYOB killer me thinks..
     
    Matty77, 5th Oct, 2015
    #14