Quicken Rental Property Manager 2010 Review

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A good property management software program can be a lifesaver if you’re a landlord.

Because once you own multiple properties, it can be an absolute NIGHTMARE keeping track of everything…

… can you relate?

If so, it may be time to find the right property management software program. Not sure if Quicken Rental Property Manager 2010 is it… so check out my review below and see for yourself.

Also, I’ll be reviewing other property management software programs in the future. So, be on the lookout for more.

Quicken Rental Property Manager 2010 Overview

Alrighty, here’s a quick list of some of the features:

=> Manage your personal, business, and rental property (Quicken Rental Property Manager 2010 includes Quicken Home & Business which organizes your personal and biz finances)

=> Works with online banking, MS Money, Credit Card Tracking, Loan Tracking, and 401K Tracking

=> Provides bill reminders

=> Budgeting tools and savings planning tools

=> Tracks income and expenses by property

=> Identifies tax deductible rental expenses, profit and loss on rentals, and tracks paid and owed rents

=> Monitors tax status

=> Exports to TurboTax and generates tax reports for accounting

Quicken Rental Property Manager 2010 – The Good, The Bad, And The Ugly

Since this property management software program allows you to manage personal, business, and rental properties… you could look at this as a pro or a con because it adds to the functionality (aka complexity) but also provides an all-in-one solution for managing your entire financial picture.

Quicken Rental Property Manager 2010 does not allow you to collect rent online (like say PropertyBoss). But tracks income and expenses by property, identifies tax deductible rental expenses for you, has a complete profit and loss function for rental properties, and tracks paid and owed rentals for easy collections.

Imagine the ease of pulling one simple report to give to your assistant to call and collect rather than pulling folders and files for each of your properties…

… sounds nice, doesn’t it?

Quicken Rental Property 2010 monitors each property’s tax status throughout the year helping you to minimize taxes and maximize deductions. And also has a tax reporting feature for your accountant. All data can be exported to TurboTax and even prepares your Schedule E IRS tax forms.

And it costs $149.99 (no monthly fees… yeah!) and comes with a 100% satisfaction guarantee (which some programs do not have).

Quicken Property Management Software – Who is it right for?

This program is most applicable for someone doing cost accounting for less than 100 units. It allows for quick and easy data entry.  If you are familiar with Quicken software, the learning curve is minimal.  Neither the cheapest product on the market, nor the most expensive, Quicken Rental Property Manager 2010 is probably the most universally used product in the marketplace today.

Click here to learn more about Quicken Rental Property Manager 2010

If you have any questions or suggestions for other property management software programs, toss ‘em in the comment area.

Catch ya later,

Patrick

… aka P-Rid

Tags: manage personal finances and rental properties, personal finance, personal finance software, Property Management, property management software, property management software review, Property Management Software Reviews, pros and cons of quicken property management software, quicken, quicken ren, quicken rental property manager, quicken rental property manager 2010, real estate software, rental property management, rental property software
Posted in Business Management Systems and Tools | 2 Comments »

How to Drain the Risk from Your Real Estate Deals

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In today’s post, Julie Broad of RevNYou tells us how to drain the risk from our real estate deals … (if you missed it earlier this week, make sure to check out the video review I did of Julie’s Real Estate Millionaire: The Essential Starter Course)

Real estate investing can be risky. We’ve all heard the stories of the losses, the bankruptcies and the stress caused by real estate investing missteps.

As a savvy real estate investor, you should always be looking for ways to drain the risk from your deals. And the real big risks arise when you buy a property that nobody wants to live in.

Empty units can suck the profit from a property in a single month, and consecutive months of vacancies can sink you. And, if you’ve bought a place that nobody wants to rent from you, you’ll probably have a hard time selling it too!

So – how do you drain the risk from your deal and buy a property people are sure to want to live in? Instead of chasing the hottest deals …

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Tags: creative real estate investing, Julie Broad, Property Management, real estate investing, RevNYou
Posted in Property Management, Real Estate Investment Buying Strategies, Tips and Tricks | No Comments »

You Didn’t Get The Rent Because My Mailman Doesn’t Like Me

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Can you believe a tenant told my buddy Dustin that???

“You didn’t get the rent because my mailman doesn’t like me.” . . . WHAT! . . . Isn’t that ridiculous . . . lol . . .

Dustin has owned a couple rental properties and has heard some good excuses in his day . . . how about this one . . . Dustin said that another tenant told him that since there was a holiday on a Monday, they didn’t want to mail the rent and have it sit in his box for too long. Soooooo, they waited until he contacted them the next week to find out what he wanted them to do. Three weeks later he finally got the rent from them . . .

Ahhhh the joys of dealing with tenants . . . it’s amazing the stories they tell.

My REI biz partner, Dusty Keefe, has been our property manager ever since we started investing in real estate. He was the lucky one to take on that position for us (well I kinda stuck him on that one) . . . hahaha . . . thanks Dusty!

Anyway, Dusty shot a quick video to share some of the worst (aka funniest) excuses that we’ve gotten from a tenant for not having the rent on time.

Check it out below . . .
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Tags: landlord, landlording, Property Management, tenant excuses, tenants
Posted in Property Management | 12 Comments »

Profit from Problem Solving: 5 Creative Ways to Make Money in Real Estate

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In today’s post, Julie Broad of Rev N You is going to share some creative ways to make money in real estate.

“Most people spend more time and energy going around problems than in trying to solve them.” – Henry Ford

Often, finding or creating great real estate deals is nothing more than figuring out what the problem is and fixing it. Here are five of the most common real estate problems, and some ideas for solving them:

1. Landlord Burn Out

Being a landlord can be stressful and tiring. Picking just one bad tenant can make your life miserable. And, if you don’t have a clear set of goals or an easy to follow strategy, it’s often easier to throw in the towel and run away from your real estate investments.

Find the frazzled and frustrated landlords, and solve their problem. A frazzled and frustrated landlord is done dealing with the troubles of their property. Most of the time this person will think the only way out is to sell. But, in today’s troubled market they may lose money on that sale. Their real problem is dealing with the bad tenants… if it’s otherwise a good property, you could offer to become a partner on the deal. Maybe you get a 20% share of the property for just taking on the role of property manager? No money invested on your part, just some time, sweat and trouble to get rid of the terrible tenants, place some new ones and take the odd call.

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Tags: creative real estate investing, Marketing, Property Management
Posted in Marketing, Property Management, Real Estate Investment Buying Strategies | 4 Comments »