Ways of keeping track of your investments

[Outback Nomad]

Hi.

I was wondering how people out there keep track of their IP's (finances etc.) My partner and I have 3 IP's and are looking to have a more organised approach to the way we keep track of them and future purchases. Have been looking at an Excel Spreadsheet but unsure weather this is the best way.

It would be great if I could get some opinions as to what works best for other investors.

Cheers.

 

[bluestorm]

For simple quick calculations, just Excel.

For more comprehensive analysis, PIA.
Property Investment Analysis software

 

[Jamie M]

Hi.

I was wondering how people out there keep track of their IP's (finances etc.) My partner and I have 3 IP's and are looking to have a more organised approach to the way we keep track of them and future purchases. Have been looking at an Excel Spreadsheet but unsure weather this is the best way.

It would be great if I could get some opinions as to what works best for other investors.

Cheers.

Hi Nomad

I just have an excel spreadsheet that I spend 10 minutes updating at the end of each month.

I have one tab for each IP and a summary page for all properties at the front.

The PIA software is more ideal for looking at how the numbers stack up with a particular deal. However, a basic excel spreadsheet should do the trick for tracking your IP income and expenses (it should also cut down your accountants time at the end of the FY).

Cheers

Jamie

 

[Anh]

Hi, I used excel and put all IPs into one data tab:

Category: Rental Deduction - Rental Expense
Date: 15/6/2011
Supplier:Bunnings
Fiscal Year: 2011
Amount: - $150 ( for expenses, income is positive (+)
Description: Light Bulbs
IP: 25 ABC street, DFE, Victoria
Source: Loan or Cash
Cash Purchase: Yes

Then i Pivot table the data which i can easily analyse the bottom line for each and/or all IPs by one of all of the data items above.

At the end of the year i can either send all data or just summaried data.

Of course you need to know how to use Pivot table but i think it is quite easy.

I also add my work income/deduction and then can work out exactly how much it affects my tax , also be useful when doing an estimate Tax Variation at the beginning of each Fiscal year.

Hope that helps.

Anne