- PropertyGuru31Participant@propertyguru31Join Date: 2018Post Count: 8
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.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
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.
Yours in FinancepropBuyer23Participant@propbuyer23Join Date: 2018Post 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.