Investing in Rental Property

Rental Property Software

Free Real Estate Software

There are two types of rental property software that you should consider for your rental property investment. The first type of property software is to use for evaluating the profitability of your investment rental property.

Fortunately, there is an excellent source of free real estate software available online Property Software Download Site

The best investment property analysis software I have found is RealYields property analysis software. For a beginner investor the software allows 2 free property analysis a month. The RealYields property analysis software is very powerfull and can analyze variations in financing (hard money, conventional, line of credit, cash), lets you play with rehab costs and provides lots of nice property analysis graphs. You can evaluate long term buy and hold, lease-purchase (aka sandwich lease) or whether to flip the property.






Once you have your property, it is important to track your expenses. I use Quicken for this and track each expense with a category name. I tried QuickBooks at one time but it was too much trouble for me. Quicken Rental Property Manager is a useful program if you own many investment properties. No matter what type of software you use, it is important to have some way to track expenses so that you can account for everything during tax time.

There are many more rental property software packages you can purchase, but do you really need them? Probably not. A simple spreadsheet program can add to the functionality of Quicken or Microsoft Money. I tend to use online tools for this like the spreadsheet in Google Docs ( docs.google.com)

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