Property Software

[danwatto]

What property software do you guys recommend these days?
For either management or analysis, or both!

I was looking at the online cloud solution from Destiny/Lomas which looks ok.

But I'm leaning more towards building onto my own spreadsheet as I can customise it how I want, and I'm not tied to anyone else's system...

But if there's something really good out there that's not web-based I'd consider it.

 

[Richard Feynman]

I've built some spreadsheets in google docs for myself (managing cashflows, determining costs of future purchases, equity required etc), have tweaked others that were posted on here (holding costs, expenses/income) and also use Somersoft's Property Investment Analysis software for analysing my portfolio and future purchases.

The combo works well for me.

 

[superAndrew]

What property software do you guys recommend these days?

I'm just answering the question....

 

[Scott No Mates]

MRI - by far much better than Console and far easier to use than JDEdwards or SAP. I haven't been exposed to Yardi but I see many have migrated to it.

 

[danwatto]

I've built some spreadsheets in google docs for myself (managing cashflows, determining costs of future purchases, equity required etc), have tweaked others that were posted on here (holding costs, expenses/income) and also use Somersoft's Property Investment Analysis software for analysing my portfolio and future purchases.

The combo works well for me.

Thanks Richard, confirmed what I thought. I quite like working with spreadsheets and can add and remove stuff as I need.

I wasn't sure about Somersoft's software though, since it's been a long time since it came out.

Does it get updated regularly? Is it still current or out of date now?

Cheers

 

[danwatto]

MRI - by far much better than Console and far easier to use than JDEdwards or SAP. I haven't been exposed to Yardi but I see many have migrated to it.

MRI - looks interesting, didn't see it before.

Is it an American application?
Does it work well for Aussie property?
Works ok for holding property in individual name?

Cheers

 

[Peter_Tersteeg]

Take 2...

Most of my clients with larger portfolios use a spreadsheet. I've attached one of the more detailed examples with most of the information removed.

 

[Richard Feynman]

I wasn't sure about Somersoft's software though, since it's been a long time since it came out.

Does it get updated regularly? Is it still current or out of date now?

Cheers

It's updated every time it needs to be. New version came out a couple of weeks ago.

You can see the update history (dates plus what was updated) here: http://www.somersoft.com.au/software/fmes.htm

 

[Scott No Mates]

MRI - looks interesting, didn't see it before.

Is it an American application?
Does it work well for Aussie property?
Works ok for holding property in individual name?

Cheers

Yes it works well in Australia, CBRE, Knight Frank, FiveD & others.

As far as I know it works for individuals, companies, government etc

 

[Coota9]

Scott,

Can you post a link to software website

 

[Scott No Mates]

this should be it: www​.mri software.com/

 

[danwatto]

Yes it works well in Australia, CBRE, Knight Frank, FiveD & others.

As far as I know it works for individuals, companies, government etc

Thanks, I found this site assuming it's it?
http://www.mrisoftware.com

But I can't find anywhere on there that lets you "buy" it or download it, or even good screenshots etc. Seems more like they cater for enterprise customers..

Where did you buy it from?

@Richard - thanks I think I'll get the Somersoft demo and check it out.

@Peter -thanks I'll try that out too

 

[danwatto]

PIA looks great, a bit dated interface but who cares it's very functional.
Did a quick search and lots of other happy people, so I bought it

I hope they get back to me with a license soon, really want to plug my real figures in and see what happens...

 

[Pandah]

is PIA available for Macs?

 

[Coota9]

Pandah,

See link below..

Only windows based,no Mac version..

http://www.somersoft.com.au/software/demos.htm

 

[Richard Feynman]

is PIA available for Macs?

I use Parallels Desktop to run windows just for the PIA software.

Pain in the ****, but understandable. It's not economical to cater to such a tiny fraction of the market when your market itself is tiny.


Oh and danwatto, spot on. The interface is very functional, no need to slick it up when it does the job perfectly not.

 

[danwatto]

One thing with PIA I'm not sure about..

When entering the loan details for the property, what do you do with the deposit loan?

Do you:
a) record it against the property it's secured against (i.e. an old existing IP)? or;
b) record it against the new property you are purchasing?

If a - then the cashflow and tax figures would be wrong, so i assume it would be b, to be a more correct profit and cashflow..
However if b, then the equity figures will be wrong..

Is there a better way to handle it?
Problem is it looks at properties individually, but the source of funds to secure each property comes from a loan that is secured against another property..

 

[Scott No Mates]

Thanks, I found this site assuming it's it?
http://www.mrisoftware.com

But I can't find anywhere on there that lets you "buy" it or download it, or even good screenshots etc. Seems more like they cater for enterprise customers..

Where did you buy it from?

If you contact them they will send a team of sales bods out to customise a solution for you.

Not quite a downloadable package, requires a custom install and a few weeks training to get the most out of it.

 

[Coota9]

Scott,

Sounds a bit pricey....

 

[danwatto]

Lol a team, Yeah way outside budget.

Sounds like an enterprise solution, for businesses not for individual investors