![]() Processing tenant applications, running credit reports and background checks.Providing online solutions for listing and marketing.Today’s innovative real estate investor software solutions help you scale up and grow your rental property business by: These are tenants who grew up with the internet and expect property owners to be as tech savvy as they are. Managing one or two rental properties using a laptop and spreadsheet can be done, but quite frankly it isn’t the most efficient or professional way to work in today’s competitive world.Īccording to the Federal Reserve Bank, the majority of renters are under the age of 35. Should you even use high tech software as an investor? In this article we’ll explain how to find the best real estate investor software for your unique business needs. Software specifically designed for the real estate industry makes it easy to choose the most profitable rental property based on key financial metrics. There are plenty of high quality, cloud-based software solutions that cost very little or are absolutely free. So I have an asset account for the purchase price of our home, and I have recorded a small number of transactions in it over the years for capital improvements.The most successful real estate investors use software to analyze potential financial performance and make better deals. Even though we've owned our home for a long time, I don't foresee exceeding a half million dollar capital gain - but who knows if the tax laws will changed again and lower that limit. The limits are now much higher than they were in the past - a gain of up to $500,000 is tax-free for a joint filers - so unless you have a very expensive home where the appreciation could exceed half a million, keeping detailed records of home improvements to have an up-to-date cost basis is not so crucial. It used to be that you really needed to track this because of the potential capital gains tax you'd face when you sold your home. ![]() (If you're doing end-of-life/estate planning, then the equation changes.) But if you want to have such an account, until Quicken integrates with Zillow, it's easy enough to set up a manual asset account and enter a transaction once a year (or 6 months, or 3 months) to adjust your valuation and be able to see the history over time.Ĭost basis is a different matter. I don't bother to have and update such an asset account in Quicken I'm always going to need a home, so if I see this one the proceeds will doubtless go into the next home. Unless you're a property flipper, how often does anyone really want/need to see the changes in this value? For me, the answer is not often once a year is fine. I can go to Zillow and look up its (imperfect) estimate of my home's value at any time, in a few seconds. I think the Quicken developers should add this, as it's been a feature of Quicken Windows for a number of years now - but I'm sort of neutral on the importance of it. This thread is about adding Zillow integration for automatic valuation updates. And the difference between those two values would be your capital gain (if you sold the property), which may or may not be important for tax planning purposes. Cost basis is entirely different: what you paid, plus improvements. Valuation - Zillow, or a comparable manual approach - is "what is my property worth right now". I just wanted to note that you're seeking two very different things here. If Quicken showed me the % change in value over time and tracked my cost basis it would be even more useful. If this isn't possible, I'd like to be able to easily update the value of my real estate without using clunky transactions. ![]() ![]() I think it would be great for Quicken to partner with Zillow or another site to provide automatic real estate values.
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