Total Portfolio Bottom Line Software

[Rixter]

Hi All,

I currently access each IP's income & itemised outgoings to find their individual bottom line.

What Im after is a Spreadsheet or some other software alike that combines the complete portfolio of all IPs combined. That is, lists all incomings & all itemised outgoings together in order to keep an eye the cashflows for Total Portfolio Bottom Line. Plus to also analyse the effect of subsequent individual purchases to the portfolio's cashflow or bottom line.

Is there such a tool in existence?? Any suggestions , recommendations or donated software will be greatly appreciated.

 

[sbe]

PAI can kinda do it.

You set up each one, then run a portfolio.

MAKE SURE all your details are consistant - salary etc, or it'll get confused....

I wish someone would write an interface to MS Money (and quicken for those who use that), that would let me track the property bits, 'cause I already enter the transaction bits in there.......


Oh well..... keep dreamin.......

 

[Aceyducey]

I wish someone would write an interface to MS Money (and quicken for those who use that), that would let me track the property bits, 'cause I already enter the transaction bits in there.......

Ask Ian Somers

Provided it exports text-delimited it should go into Money or QUicken with the right column titles...

Cheers,

Aceyducey

 

[sbe]

What I'd really like, is something that doesn't need to export / import. What a waste of time and effort.

I want a package that's sort of a mix of POSH and MSMoney. A lot of POSH's features for ongoing tracking, but it gets the info from MSMoney.

I'll tell it what categories etc belong to which property for both income and expense. It can track the other stuff, then give me the analysis of the info like PIA, but based on REAL figures from MSMoney / Quicken.

It could then give me P&L per property excluding Neg Gear tax and for portfolio with or without neg gear tax. Now that would be cool.

Set up depreciation table in software, which calculates into the mix automatically, without dep'n being entered into MSMoney.

Any takers?



ps. I tried to import trans once from MSmoney, and the program (I think POSH trial) didn't want to read it.....

 

[JoannaK]

I use MYOB and it does it all.

I've set up each property as a "job" and set up different catagories (ie: investments, developments etc) so at any given moment I can look up the total bottom line of all jobs, individual jobs, all catagories or individual catagories.

You can analyse the profit and loss on each job or catagory, or multiple jobs or catagories, and if you set up recurring transactions you can also run forecasts and projections.

 

[sbe]

What I've done in money is kinda similar (although I think what you're done is probably better again).

How do you (or do you) track agents, leases, contacts, valuations, improvements, photo's etc on a property?

 

[Rixter]

Thanks alot for all replies so far.
Sorry but I forgot to also mention that because Im after the Portfolio Bottom line the software has to include all relevent tax rebates back from ATO into the equation.

Do those programs calculate & include income back from ATO ?

 

[JoannaK]

Hi Sbe,

I self manage all but one of my properties. I run a separate specialist property management program to track my leases, incoming rents, outgoings rent reviews and other property management stuff. I generate a statement at the end of each month similar to what you would receive from a property manager, I then transfer these figures into MYOB for profit and loss tracking, allocate it to the appropriate "job" and expense or income code.

I have a separate computer file on each property that I scan all the important documentation into, including valuations, correspondence etc etc which is broken down extensively into subfiles for insurance, tenants, strata, etc etc.

I also keep separate hard copy files to back up the computer file on each property and tenant and in that I file away all my relevant paperwork for each property, including the rental statements that i produce each month along with all the bills that have been paid, plus correspondence to tenants, strata managers etc.

It probably sounds like a lot of work, but It's a finely tuned system that works well. Well, my current accountant loves it anyway!

Rixter,

You can also allocate income to the appropriate "job" and income code...for example, I have these income codes; residential rent, commercial rent, residential development and commercial development, and in MYOB they're found under "4" in the chart of accounts. Each time i get income I code it to the appropriate "4" code, then the "job" that it came from, and there's also a section where you can input who the money came from, and this is what you would see when generating a report.

Hope this helps!

 

[sbe]

PIA can do it, if you plug the values in correctly.

BEAR IN MIND:
You cannot calculate the after tax cost of one property in isolation.

The effect of tax breaks on ther properties pollutes the result.

One way you can get close enough to it though is something like this.
Prop 1 - Do all calcs on base income, and note the end results.

Prop 2 - Do all calcs with Base income + income from prop1 - expenses from prop 1 (ie your starting porition for #2 is after taking into consideration #1

Prop 3 - Do all calcs with Base income from prop 2 calculation, + income from prop2 - expenses from prop 2 (ie your starting porition for #3 is after taking into consideration #1 and #2


etc

etc

If you dont do this, you'll get an artifically low out of pocket cost.

Cheerio

Simon.

 

[HHH]

I am with SBE on this one.

I would love for microsoft money to be able handle more than just the financial tracking of properties, like insurance details, agents, tenants, photos etc.

I started to write my own but realised it was a waste of time re-inventing the wheel from the finance side when money and quicken do such a great job. At this stage, I will most likely write myself something for looking after the properties only, and maintain a separate system for the finanances

I am yet to find an existing property management program I like or that suits, with I guess POSH coming closest, but like the rest of them, not a big fan of the interface and is lacking in a few areas. I haven't checked out PIA, but I understand that is really only for analysis, which I do not need just yet.
I am looking at another one from the U.S - just trying to see how compatible it is here. Looks ok so far, still not what I would wish for but.

Has anyone checked out the UK version of Quicken that handles property management?

 

[HHH]

Hi JoannaK, we must have submited at the same time.

... would you care to share the name of the property software you use? it sounds close to what I am looking for too!

thanks

 

[D.T.]

Hey Rix,

That isnt all that hard to do with Excel if ya know what you're doing

Contact me and I'll help you out with it.

-Regards

Dave

 

[Haggis]

Quicken, MYOB, Excel or ?????

I have 10 properties and intend to expand potentially to 50. I preprare an Excel spread sheet of all property ins and outs for the year to send to my accountant. Although the end result is good, it takes forever!!!
I am looking to cut down my time doing "busy stuff" and am not sure what package to use for property expenses. I have Quicken 7.0 but can't work it out (I'm not the smartest with computers). Are there any worthwhile property management programs around? I also want to get a tighter hold on personal expenses - stop the leaks.
Suggestions are very welcome.

 

[geoffw]

Haggis,

I don't know if there is an answer in this post which could help.

 

[simonjulie]

Hi Haggis,
I Believe that the trick to this problem is in the tracking. "How do you know where your going if you don't know where you,ve been?"
I also, use Excel spread sheets for accounting and record keeping.
If you are keeping good records you should be able to draw info to give you current and future bottom line costs without to much drama.
With bottom line costs there are a few of key factors.
1. What is the real money cost of borrowings (p/a and life of the investment)?
2. How much capital will be tied up in the investment?
3. What is the real money cost for the above capital?
4. What is my real return /outlay on the real money cost of the investment(both including and excluding Capital growth)
5. When do I get my capital back ready to go again?
The basic formula for Bottom Line is " (Income from investment)-(real money total holding costs for investment) + (capital growth - capital outlay)"
The above formula is three dimentional Because "time " is the unknown but friendly wild card.
Kind regards
Simon

 

[JoannaK]

Hi JoannaK, we must have submited at the same time.

... would you care to share the name of the property software you use? it sounds close to what I am looking for too!

thanks

Hi HHH,

I use a program called Quick Trust, (by Clarke Computers), but there are a few programs on the market for property managers that do the same thing. There are also other programs targeted at investors as opposed to property managers that have pretty much the same functions at a much cheaper price.

Check out DuncanM's software at www.otter-software.com.au ; it may be what you're looking for...

 

[Haggis]

Thanks Simon,
I'll throw those ideas around in my head for a while..... until they stop rattling. I like to keep things simple and clear. So I will see if your thoughts help to get me there.
I am still not sure that Excel is the way to go as you ned to set the system up (reinvent the wheel. On the other hand it may provide the best final solution. Are you managing your own properties? How many do you have?Thanks again
Mike

 

[simonjulie]

Hi Haggis
We manage all our local properties and currently have our interstate ones managed by local agents(not ideal but satisfactory)
We enjoy self managing our portfolio where practical.
IMHO don't give up on Excel. Just don't try to make one spread sheet tell you everything.(Been there done that)
I have one series of spread sheets for "in and out bank details" linked to another series for "in and out property details" and have developed various analysis calculators all with a basic knowledge of the program.
My portfolio takes me around 3hrs per month record record keeping inputing.
With property management we spend the equivelant of one day per fortnight, although this is spread over the total time, solving litte problems here and there. Because we are not fulltime property managers we use "check lists" to help us for all aspects of property management.
Kind regards
Simon

 

[Sim]

And if you don't like the price of Excel, the OpenOffice.org suite has an extremely capable spreadsheet component at an extremely attractive price (ie. free !)

 

[whitt]

i'll second the need for A decent msmoney interface. I use msmoney to track day to day accounts and property values then transfer them onto a excell spreadsheet for tax returns.