You could open up an Excel spreadsheet, manually designed and maintained, for quickly sorting information. In a traditional tracking system, you might own several filing cabinets and 1,000 different color-coded manila folders. That doesn’t even consider the accounting necessary to efficiently manage the associated finances. You need a system for recording interactions with contractors, and an inbox for tenant complaints or eccentricities.
You’ll inevitably accumulate a small mountain of legal documents, miscellaneous property upkeep and inspection forms, tenant agreements, business receipts, and tax files.
A lot goes into managing investment properties.
