Best ref for using Quicken for rentals/rehabs? - Posted by Dave Hanson

Real Estate Investing
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Posted by Dave Hanson on November 10, 2003 at 09:54:59:

Ron, firefox and Dimpil,

Thanks for taking the time to reply!

Ron, eventually I may move to QB, but for now, that’s probably overkill. I’m handling all our projects in Quicken OK, it’s just cumbersome. Another reason to keep in Quicken is because many of our projects/business are sole proprietorships or otherwise treated as matters for our personal tax return, and tracking everything in one big file (then exporting to turbotax) works more easily for us.

That’s NOT to say that I couldn’t be persuaded to switch… I will check out John’s page.

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Best ref for using Quicken for rentals/rehabs? - Posted by Dave Hanson

Posted by Dave Hanson on November 08, 2003 at 19:13:07:

I’ve used quicken for 5-6 years, but have a very crude method for tracking my real estate investments…I’ve never used classes, for example.

I’m trying to remedy this problem, and after some poking around the only decent reference I found online was at http://rhol.org/rental/quicken.htm . I would very much appreciate links or other sources the group would recommend.

TIA, Dave

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Re: Best ref for using Quicken for rentals/rehabs? - Posted by Ron (MD)

Posted by Ron (MD) on November 08, 2003 at 22:13:25:

Dave,

I think Quicken is too basic for serious business applications. I think the standard is Quickbooks. In fact, John Hyre, who moderates the legal forum here has a great manual giving detailed instructions for keeping the books for a wide variety of RE investments…including rehabs, rentals, subject to’s, etc.

The link is: http://www.creonline.com/catalog/c-204.html

Ron Guy

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Re: Best ref for using Quicken for rentals/rehabs? - Posted by Dimpil(NC)

Posted by Dimpil(NC) on November 08, 2003 at 21:42:38:

I’ve wrote them a letter explaining how nice it would be to have something for the REI. I have yet to hear anything.

I too would like to use Quicken to it’s full potential with my REI. Any tips would be great for me also!

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Re: Best ref for using Quicken for rentals/rehabs? - Posted by firefox

Posted by firefox on November 09, 2003 at 14:24:42:

Quicken has one important feature Quickbooks lacks: automatic loan amortizations. You’ll be driven batty if you have more than a few loans in QB; QB + Excel is not a solution to this problem.