Are you looking for the best software for real estate investors? If so, you’re in the right place. Read on to learn about our favorite platforms, their features, pricing, and more to help you decide which solution is right for you.
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- How Accounting Software Helps Real Estate Investors
- Best Accounting Software for Real Estate Investors
- Fix and Flip Accounting Software
- Property Management Accounting Software
- Wholesale Real Estate Accounting Software
- Best Accounting Software for Real Estate Investors
What’s the best accounting software for real estate investors? The top options are reasonably priced and provide all the features you need to accurately track, manage, and analyze your income and expenses as a real estate investor.
Good accounting software is one of the hallmarks of a serious and successful investor. You may be a wholesaler, fix-and-flipper, or a landlord renting property to tenants.
In any case, the money involved in your investments has to be accurately tracked to help you make the most profitable decisions for your real estate business.
Best Accounting Software for Real Estate Investors
When you use accounting software for real estate investors, you boost your real estate business in multiple ways.
- Make your yearly tax returns a breeze
- Stay prepared with documentation and receipts in case of an audit
- Keep tabs on your cash and expenses
- View your profit and loss statements, net worth, and cash flow over time
- Benefit from analyzing reports and statements for clarity
- Quickly see the best performing investment properties
- See your year-over-year growth
- Make it easier to get financing with your accounting information in one place
- Save money by not hiring a bookkeeper
The number of accounting software options available is always growing. But there are only a few platforms that are intended primarily for real estate investors.
You can use general accounting or bookkeeping software, but the ease of using a platform designed with your industry and workflow in mind is much more beneficial.
With that, let’s look at the very best accounting software for real estate investors and which type of investor can benefit the most from each.
The accounting needs of real estate investors differ based on the investment strategies they use. If you’re flipping houses, you’re tracking different expenses and income than a rental property owner who generates monthly rental income.
Below, we explore the best accounting software options for various real estate investment methods. Ultimately, this will help you decide which real estate accounting software is best for your business.
Fix-and-Flip Accounting Software
If you’re rehabbing properties for a profit, your main needs are:
- Tracking your expenses related to making repairs and purchasing the property
- Tracking your profit from the sale of property
- Analyzing your progress and growth over time with reports
- The ability to separately track more than one property at a time
- Generate 1099s for contractors and vendors
Let’s look at a few software options that can meet these needs for fix-and-flip investors.
FlipperForce is house flipping software that goes far beyond accounting, but here, we’ll focus on the accounting and budgeting features. With FlipperForce, you can forecast profitability by project.
You can also compare expenses between projects, manage your budget, upload receipts, create expense reports, create profit statements, and separately track different projects.
It’s convenient to have all your financial information in one place with so many expenses and contractors to manage as a flipper.
When tax time rolls around, you’ll be glad to have the instant report generation features and profit statements that tally everything up for you!
Pricing: $25/month (1 year contract) or $33/month (no contract) for 1 user. Plus, FlipperForce offers a 30-day free trial with no credit card required.
QuickBooks Online Plus, Quickbooks Online Advanced, or QuickBooks Pro could meet your needs as a fix-and-flip investor. The option you choose should be based on the number of flipping projects you tend to take on at once.
QuickBooks allows you to create custom fields to track only what you need. As a flipper, you might track property values, property cost, estimated rent values, repair costs, materials costs, deadlines, and more.
You can manage, sort, and analyze your financial information in the software as well as generate reports and 1099s for contractors to make tax time easier.
There are two downsides to using QuickBooks. First, it’s not specifically designed for real estate investors, so you’ll have to spend a little time customizing your fields to reflect the information that is important for you to track.
Second, it’s not all-inclusive and lacks features that you will need, like receipt capture and upload. You will have to use separate software for this.
QuickBooks Online Plus is all you’ll need if you’re working on one project at a time. QuickBooks Online Advanced or QuickBooks Pro are better options for you if you’re working on multiple projects simultaneously.
Pricing: QuickBooks Online Plus is $60/month; QuickBooks Online Advanced is $150/month; QuickBooks Pro is $299.95 (one-time purchase cost, no monthly fee).
Property Management Accounting Software
For real estate investors who own rental property, more robust accounting software is necessary. You’re not only tracking your actual investments.
You’re also tracking the fluctuating expenses and rental income over time for multiple properties. Below we list our two favorite software options that bring together property management and accounting.
Buildium allows you to manage up to 5,000 units in its simple but robust platform. It’s full property management software, offering ways to track and manage accounting information, maintenance requests, documents, leases, and vacancies.
You can even create a free website to advertise vacancies when you use Buildium. It’s not just for accounting and financial management, but we’re focusing on the accounting features here.
With Buildium, you can handle every aspect of your rental property accounting:
- Accept online rent payments from tenants.
- Automatically track all rent payments and non-payments.
- Manage and sync your bank accounts.
- Generate financial and tax reports.
- Send invoices and fee statements.
- File 1099s and other tax forms.
- Track and manage all expenses.
Pricing: Priced by number of managed units; $47/month for 1 unit on the Core plan; $156/month for 1 unit on the Pro plan. Per unit cost drops with the more units you add.
Yardi offers three software options for real estate investors and property managers who want to develop better accounting practices: Breeze, Voyager, and Investment Suite. These products are at different price points with varying levels of features.
All Yardi’s product options will allow you to get a bird’s eye view of your accounting by enabling you to track expenses, payables, receivables, receipts, rent, and more.
Yardi Breeze has several real estate accounting features:
- Document/file uploads for digital storage.
- Track general ledger, payables, receivables.
- Batch receipts.
- Invoice tracking and emailing.
- Complete financial statements.
- Create custom expense pools.
- Automatically calculate rent percentages.
- Accept payments from ACH or credit card transactions.
Yardi Voyager, a more robust offering for investors and property managers, includes more features. In terms of accounting, Voyager enables you to perform general ledger allocations, set up recurring expense entries, and record every financial transactions.
In addition, you can set up different account trees to track expenses and income from multiple sources, and use segmented accounting to keep separate entities separated in your accounting.
In addition, Yardi also offers a product called Investment Suite designed for real estate investors. It goes well beyond accounting features and includes management and tracking options for investments, profits and expenses over time, and overall metrics and analytics.
Pricing: Yardi Breeze is $1/unit/month ($100/month minimum). Contact Yardi for Voyager and Investment Suite pricing, which is not available on the website.
Wholesaler Accounting Software
Wholesalers are involved in transactions short-term and don’t have the same accounting needs as other real estate investors. They simply need to be able to track the cash they earn from each transaction.
And not repeat expenses and rental income related to a property over time. For this reason, wholesalers can get by with using more general accounting software. Here is the best option for wholesalers.
Realtyzam is intended for real estate agents to track income and expenses in preparation for tax time, but its simple features are useful for wholesalers. You can opt to get the Customer Relationship Management (CRM) software by Realtyzam, too.
This can be useful to keep up with contact information for other investors who may be interested in the properties you wholesale, or to keep in touch with sellers throughout the sale process. Let’s take a look at what an investor can do with Realtyzam:
- Sync with your bank account for automatic reporting
- Upload credit card statements to import expense data
- Generate financial reports
- Generate tax statements
- Set reminders and deadlines (CRM)
- Save contact information (CRM)
Pricing: Realtyzam Accounting is $9.95/month (1 year contract) or $12/month (no contract). The Realtyzam CRM is $11.95/month (1 year contract) or $15/month (no contract).
Best Accounting Software for Real Estate Investors
Out of all the accounting software options we’ve used and reviewed, does one stand out as the absolute best? There’s muchvariation between the features and pricing each of these software platforms offers.
So, we think it’s fair to name a winner for a few different categories: Features, price, and specialization. Which software has the most robust features? Which is the most affordably priced? Which is the best all-around?
Best Overall: Buildium
Buildium does everything a residential rental property investor could want, from tracking day-to-day tasks like managing maintenance requests and automating rent collection in addition to some incredibly useful accounting features.
Best Features: FlipperForce
FlipperForce is designed just for fix-and-flip investors who have unique expenses and income to track. From managing different contractors and deadlines to tracking overall budget and expenses by property, FlipperForce has some great features if you’re a rehabber.
Best Price: Realtyzam
It’s not designed for real estate investors (it’s intended for use by agents and brokers). Still, Realtyzam is so affordably priced that it may be the best option for wholesale investors to track their profits in one easy-to-use system.
What’s the Best Accounting Software for Real Estate Investors?
These are our picks for the best accounting software for real estate investors. From beginning investors to seasoned experts, accounting software is essential for investors.
It makes sure you’re accurately tracking your profits, keeping your expenses in line, and always prepared for tax time. We’ve discussed some great accounting software options here. Which platform will you choose?