As a real estate investor, there is a great need to streamline and keep track of all your activities, set reminders for different activities that are to be done, and do ambiguous money calculations on the go. Because of this, you need some applications that will help you save time and increase efficiency in your real estate activities.
In this article, I would be looking at applications for real estate investors that you will need to make work easier for you. Some of them are premium, some are familiar and others are totally free of charge.
Applications for real estate investors:
Quicken: with Quicken, you can manage your home and business finances all in one place. You can manage taxes, invoices, expenses, tenants, investments and indeed everything related to your business and property all in one place. They have existed for about 30 years, provide a 30-day money-back guarantee and their system is safe and secure.
It is a paid application and has a Windows and a MAC version. There are many plans which include:
- Starter plan – $34.99 per year
- Deluxe – $44.99 per year
- Premier – $67.49 per year
- Home & business (for Windows only) – $89.99 per year.
They have a mobile app from where you can check your account on the go. The mobile app is available for Android and iOS users. You can visit their site and choose the plan suitable for you and your investment plan.
On this application, there are many plans and they have the following features:
- Download your accounts from over 14,000 financial institutions
- Track all your assets and liabilities for a complete balance sheet
- Track business and personal transactions separately
- Store contracts, receipts, leases, and any other business documents.
- Spend more time on your business and less time on taxes with easy tax reports on business income, expenses, and deductions.
- You can get paid in style by creating and emailing custom invoices directly from Quicken to your tenants, clients, and other business partners.
Microsoft Excel: this is a well-known software built by Microsoft. It has diverse functionalities and fortunately, it has real estate functionality. Microsoft Excel can be used by a real estate investor for diverse tasks due to its financial analysis capabilities.
Some of these functions include:
- Keeping records of clients, their details and virtually everything about them
- Carryout logic functions through developed spreadsheets for specific real estate investment scenario
- Hyperlink, data validation, grouping and ungrouping
- Goal seeks
- Midpoint discounting and XIRR
- References that can either be absolute or relative and lots more.
You can undergo free or paid Microsoft Excel tutorials online or offline to get yourself acquainted with how it works and how best to make use of it. It is really a good application that is worth using.
There are also developed libraries or models for real estate analysis using Microsoft Excel that you can check out, learn about and simply deploy in your analysis. If you are planning on being a real estate investor, then Excel is a very good application for real estate investors.
Wave accounting app: wave apps are completely free of charge! With no hidden charges and tricks. It is an accounting that helps you keep track of so many with their different products that are completely free.
With them, you can easily do the following:
- Create professional invoices for free: you can create invoices and send to your clients for direct payment into your account, get paid on time using recurring bills for repeat customers, get all your invoices and well-kept for easy access and analysis.
You can create invoices in all currencies, send estimates and turn them into invoices upon approval, accept credit cards and bank payments to get automatically paid, customize the invoice logo and colors to suit your brand for free, etc.
- Keep track of your business health
- Make tax time a breeze
- Collaborate with others easily
- Automatic reports
- Accountant-free software
- Easy connection to PayPal, Shoeboxed, and Etsy
- Exportable accounting reports that include profit/loss, sales tax, cash flow, comparatives, etc.
- Customizable sales taxes
- Ability to run different businesses in one account
- You can check their website and get started with the application.
If you are looking for a free application for real estate investors, then check out Wave apps website Waveapps.com
Money pro: Money pro is a simply built tool that helps you track and manage your finances, cut spending and become free financially by helping you achieve your goals.
It offers the following services:
- Calendar: this helps you filter transactions by selecting dates on a calendar, schedule recurring bills according to their periodicity, mark days on a calendar when your bills are due.
- Notifications: the system has inbuilt notifications that remind you of upcoming bills and scheduling capabilities for dealing with due bills even before their due dates.
- Budgets: this is about the best solution Money pro offers because it lets you create budgeted entries, for both income and expenses, allows you add every transaction you have, monitors visual indicators for budget overspending, analyzes selected categories of your budget with charts for easy assessment.
- Has a budget rollover feature that enables you to transfer leftover budgets to another period of choice and this limits you spending automatically if you overspent in previous periods.
- You can attach photos of receipts for different transactions and also reconcile accounts automatically to determine available balance and balances that are cleared.
- You can also get detailed reports on cash flow, income, and expenses, net worth, projected balance, transactions, assets/liabilities, easy search through your data, etc.
you can visit their website at Money.pro if you need an application for real estate investors
Stessa: Stessa helps both novice and sophisticated investors make informed decisions about their property portfolio. It is completely free for individual investors but attracts a fee of $1000 per month for professional investors. It was developed by property investors, with investors in mind, in a bid to solve those problems they face.
With Stessa, you can have a great reporting dashboard, have tax-ready financials, track income and expenses, be ensured of a secured platform for your data and money.
You can get started with Stessa in 4 simple steps; add your properties, connect your accounts, see performance metrics and run financial reports on them.
You can visit their website at stessa.com to get started
Other applications for real estate investors include:
Quickbook
Reipro
Yellow pad
Deal manager pro
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