The amount you paid for renovations or repairs.Īfter you have all that information squared away, the next step is to take an in-depth look at your income and expenses for the property.
It should include the following information: Obviously, this will cover your down payment and any closing costs, but you'll want to be sure to include information about any initial repairs or renovations as well.
BEST EXPENSE TRACKER FOR RENTAL PROPERTIES FREE
However, if you bought the rental with cash, you can feel free to skip ahead to the next section.įinally, the initial investment section will include information regarding how much money you invested in the property when you first bought it. Next, if you used financing to purchase your investment property, you'll want to include that information in its own section of the sheet. Property size: Number of square feet and any applicable acreage.Type of property: single-family property, duplex, office building.Property location: This is particularly important if you're a remote investor.This section should include basic information about the property, including: We've written an overview of what information should be included in each section below: Basic property information To make navigating the sheet easier, you'll want to break it down into four separate sections. With that in mind, it's essential to make sure the information is readily available and easy to find. Not only is it essential to keep this information close at hand for your records but a lot of it will serve as the building blocks for the calculations you'll be doing later on. The first thing you're going to want to include in your real estate investment spreadsheet is all the relevant information about your rental property. Step 1: Enter all the relevant information on your rental property
BEST EXPENSE TRACKER FOR RENTAL PROPERTIES HOW TO
Read it over to get a better sense of how to keep all your numbers straight. To that end, here is a guide on how to organize your spreadsheet. Not only will having a cohesive spreadsheet help you keep track of your income and expenses on a monthly basis, it will also help you gauge the profitability of your investment. As a real estate investor, your real estate investment spreadsheet can be one of the most important tools you have at your disposal.
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