PropertyTracker.com
How to Create A Customized Expense Category in Property Tracker
This short video documents how to create a customized expense category in Property Tracker. While this example creates a new APPLIANCES category in the INCOME & EXPENSES section of the site, you can follow this example to create an expense category ...
How do I document a lease renewal?
A renewed lease can be documented In the CALENDAR > LEASE DATA section of Property Tracker. https://propertytracker.com/editlease.php In a lease renewal, it's important to note that you should NOT delete the existing lease so you can preserve the ...
Property Tracker Overview (VIDEO)
This 36-minute video provides a detailed overview of how you can utilize Property Tracker to evaluate, track, and manage your income property investment portfolio. Submitted by: Team Member Lisa
How to document the sale of a property in Property Tracker
In the INPUT DATA > SELL section of Property Tracker the question is asked 'Has this property been sold?' and once you click the YES dialog box additional SALE DATE and SALE PRICE fields become visible which will allow you to enter and save their ...
Property Tracker 101 - Getting Started with Property Tracker (VIDEO)
The INPUT DATA section of Property Tracker is where you enter the basic information about each property. A link to the INPUT DATA section of the site can be found in the top left and bottom left of every page in Property Tracker. Once these key ...
What are the numbers in parentheses in the Schedule E report?
The numbers in parentheses are the line numbers on the IRS Schedule E tax form. TRACK > SCHEDULE E https://propertytracker.com/schedulee.php
What is the Gross Equity Income?
The Gross Equity Income is the sum of the cash flow, the principal payments, and the appreciation. This is the bottom line return on your real estate investment. GROSS EQUITY INCOME = CASH FLOW + PRINCIPAL PAYMENTS + APPRECIATION EVALUATE > 1ST ...
Why doesn't the Net Operating Income include the PMI and mortgage payment?
The Net Operating Income is a standard term used by real estate investors. It is meant to show the financial performance of the property itself without considering the costs of financing the property. On the other hand, the CASH FLOW considers the ...
How should I interpret the Cost Per Square Foot and Rent Per Square Foot numbers?
The cost per square foot is the purchase price of the property divided by the square footage. You should compare the cost per square foot of your property with other properties in the area to make sure you are getting a good deal. You can do this by ...
How many contacts can I enter per property?
You can enter as many contacts as you want. Just click the ADD NEW CONTACT button on the CONTACTS > LIST page to add more contacts. CONTACTS > LIST http://propertytracker.com/viewcontacts.php
What is the correspondence log used for?
If you ever get audited by the IRS, and you need to prove that you are actively involved in managing your properties, then you'll need to show them a log of the conversations you've had with your property manager, insurance company, contractors, etc. ...
What are reimbursements?
Occasionally, you may overpay a bill on your property, and then get reimbursed for an over-payment in a later month. For example, you might have overpaid your electric bill by $20 in July, and then in August the electric company credited you $20 for ...
What are damage credits?
A Damage Credit is any portion of a tenant's security deposit that is withheld to reimburse the owner for damage done to the property. If you returned the entire security deposit to the tenant, the damage credit would be zero. Damage Credits can be ...
What is the difference between a pet deposit and a pet fee?
A pet deposit is a refundable deposit collected when the tenant or the pet moves into the property. A pet fee is extra rent for the pet. It could be a one-time non-refundable deposit, or it could be a monthly fee that is collected along with the ...
What is the Date Placed into Service on the INPUT DATA > TRACKER page?
This is the date that the property is considered ready to rent. If you buy a property that needs fix-up before you look for tenants, then the Date Placed into Service is the date that the fix-up is compete. If you buy a house that is rent-ready, then ...
How do I upload a picture of my property in Property Tracker?
In the EVALUATE > BRIEF SUMMARY section of Property Tracker, click on the generic image of the property, or click this link https://propertytracker.com/uploadpicture.php to go directly to the photo upload page. Choose Upload Picture from the menu on ...
How do I document Closing Costs in Property Tracker?
The outputs from the "Closing Disclosure Sections B+C+E+H" and "Other Closing Costs and Fixup: Closing Disclosure Sections F+G+ Renovation costs" in the INPUT DATA > PROPERTY section of Property Tracker can be found in the EVALUATE > 1st YEAR ...
How do I determine the maintenance percentage for my property?
The maintenance percentage is the maintenance costs divided by the gross rental income. So if your gross rental income was $10,000, and your maintenance costs that year were $500, your maintenance percentage would be 5%. If you're just purchasing the ...
Why does my August payment show up in July in the Amortization Tables and in the Income & Expense form when I use the AutoFill button?
Property Tracker assumes that you make your mortgage payments before the due date. For example, a mortgage payment that is due on August 1st would be paid in July. Therefore, it should be recorded as an expense that was incurred in July. INPUT DATA > ...
What if the principal and interest in the Amortization Tables are different from those given by my lender?
There some common mistakes with entering your data that could be causing this. Go back and take a look at your loan documents. There may be two interest rates listed. One is the interest rate for the loan itself, the other is called the Annual ...
What if I refinance one of my properties? (BETA FEATURE)
Go to the Mortgage Data input page. Click the Add button on the top of the page. Enter the information for your new mortgage and then click the Submit button. Then select the old mortgage in the Mortgage Data page, and enter the payoff date. You ...
How do I enter a second mortgage in Property Tracker?
To enter a second mortgage in Property Tracker, go to the Mortgage Data input page: 1) Click the Add button on the top of the page. 2) Click the radio button next to Second to indicate that you are entering data for a second mortgage. Then enter the ...
Should I enter my personal residence and my second home in Property Tracker?
Yes. If you intend to print out a Schedule of Real Estate Owned for your next loan application, you'll need to include your personal residence and second home on the application. You can enter zero for the rent. This is also a good way to see how ...
What is Private Mortgage Insurance (PMI)?
PMI stands for Private Mortgage Insurance. This is insurance to protect the lender when you have a small amount of equity in the property. PMI is typically charged when you put down less than 20% when buying a property. PMI can be removed when your ...
What types of loans can Property Tracker process and analyze?
The following types of loans can be selected in the Mortgage Data input form: Amortizing Fixed-Rate Amortizing ARM Interest Only Fixed-Rate Interest Only ARM Option ARM HELOC INPUT DATA > MORTGAGE ...