Forums / Property Investing / Help Needed! / How do people maintain their property info?

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  • Profile photo of PropertyGuru31PropertyGuru31
    Participant
    @propertyguru31
    Join Date: 2018
    Post Count: 6

    Hi all,

    I was wondering how people maintain their property portfolios when they have grown their portfolio to quite a large number of properties.

    It becomes difficult to keep across the total rental income you’ve generating, your loan repayments, and equity and all your documents.

    I am referring to folks who own a significant number of properties and may often buy a number of properties at a time (similar to what was described in steve’s book) – do they maintain their portfolio info themselves or give it to someone to maintain it on their behalf? Any companies who do this for property investors with large portfolios would be good to know if someone can let me know that will be useful.

    If you could also provide some ideas on how you maintain your portfolio info yourselves too that would be good, e.g. in excel doing it yourself, some other way, or using some external provider will be very useful.

    Thank you.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    excel, with a summary tab and a different tab for each property.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992

    I actually employ someone full time who looks after all the bookeeping, property management, paying council rates, land tax etc as well as my Vendor Finance book.

    She has been with me for 12 years and is very well paid but worth every penny.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of propBuyer23propBuyer23
    Participant
    @propbuyer23
    Join Date: 2018
    Post Count: 9

    Hi Everyone – I have been searching for a tool like this for a few years as someone who has a reasonably sized portfolio without too much admin time but and I tried a few and all too hard to use. The best one I have found and using now is http://propertydirector.com.au because I can upload as many properties as I like.

    My son in interested in property investing and keen to learn, so I have got him maintaining this for me using the property director! Word to the wise – your kids are great for this (if you have any, use them as your personal book keepers) and they learn about things like expenses, income, and loans as it relates to properties.

    I am pretty sure Property Director is still free for a year so worth checking out if you haven’t.

    Kris

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