Lets trade info. I do not have a project right now but I do have a deep RE investing background and over 20 years in the software industry. If you want some smaller projects or need advice as to how something works from the financial side then I can help fill in the gaps, etc.
PS. Being older my background is more C, Unix, etc.
Hello, is anyone aware of a property management program that will track lease option payments as well as rent, meaning totalling the option consideration amounts paid each month. I searched the archives with no results, also googling did not help as the programs that were pulled up did not suit this purpose. It would also be helpful if this program would help fill out the lease and option contracts.
The property manager by Just So Software has a capability you could use for this.
It lets you put in optional charges to tenants, which would allow you to separate the rent portion from the option portion when specifying payments due.
Then, when you collect the income, you could separate the payment if you wished to into a rent portion and an option payment (with some versions of the program you can define your own income categories). The result would be searchable so you could generate appropriate reports.
I know that this package also has an extension interface and they will customize it, so you might look at that possibility too.
You could design an excel spreadsheet that would do this. (i,e. this field is 20% of x = option consideration) - but I doubt there is a specefic software that would do all those things. I would definitly look into that - at my work - one of the IT guys designed an excel spreadsheet that worked as a full financial and mortgage calculator. I could email it to you from work tomorrow.
This is what I am currently doing. The option amount is fixed (usually $200-300) so the math is actually pretty easy. My business is growing now and I would like the ability to have reports and some of the other features commonly found in PM software. BTW this is for properties I have tenant buyers in, not ones that I am buying.
Most programs also have reports that you can generate that will tell you the status of all rents, that way you can see if there is any that are overdue. Again, this would be easier than using the spreadsheet. I currently have 14 rentals with 11 of those as L/O’s.
I may just have to pick something that fits best and compliment it with a spreadsheet for the L/O’s.
The program is RealTools and their web site is nichesw.com
I have run the program in demo mode and it seems to have everything I need. They have a lease option section for leases and it automatically calculates the option portion and keeps a running total. I have decided to purchase it but I am going to wait a couple of weeks as I read on their forum they have a new version coming out soon. The demo mode is good for a month.
I’m a newbie investor but not at programming. It
sounds like what you want is simple in terms of
the coding but the logic to the business is the new
for me. I would be interested in developing a tool
just to learn the ins and outs. Anyone interested?
I know dot net, delphi, sql server, oracle, crystal