One Manager, 3 Investment Portfolios
In this article we will us Joe as an example. Joe is a DIY Landlord who manages his personal real estate portfolio and a couple of LLC’s with RentMindMe.
Joe owns 5 single familiy homes which is how he got involved in real estate. He’s invested in Prime Time Partners, LLC which owns a 24 unit apartment complex. Most recently, Joe invested in Cousins Commercial Properties which owns an 8 unit office building.
Joe self manages the day to day operations of each portfolio.
Let’s explore how Joe uses RentMindMe to manage his diverse real estate portfolio.
When Joe created his RentMindMe account he created three distinct groups – Joe’s Homes, Prime Time and Cousins. Because he leverages the grouping functionality, Joe has control of how he manages his each real estate portfolio.
Rent collection by group
Joe can have rents from the properties he manages deposited into distinct bank accounts, keeping funds distinct and keeping his partners happy. Joe doesn’t event have to go to the bank or make transfers. RentMindMe allows him to assign bank accounts to each of his groups, making the management of money easy.
User access by group
Because each of Joe’s investment groups has distinct members, he doesn’t want his partners in the Prime Time to have access to Cousins or even his personal investments. To maintain transparency, Joe can invite each investor of the LLC to his RentMindMe account. However, he can limit their access based on group, ensuring they only see the relevant information for their investment.
Group specific reports
Joe’s investors may be more passive and not decide to log in to RentMindMe. However, Joe will have to presnet them with reports. As a result, each of RentMindMe’s reports can be filtered by group allowing him to present his teams with the necessary details to understand how their real estate investments are performing.
Property Management simplified with RentMindMe
By putting the power of RentMindMe to work, Joe is easily able to manage the distinct needs of his investors. You can too!
Like Joe, you can use RentMindMe to manage Single Family Homes, Multi Family Homes, Commercial Properties or a combination of all rental types. A robust, easy to use, easy to implement property management software – RentMindMe puts you in control of your investments.
Ready to put RentMindMe’s mobile friendly software to work for you? Sign up and get your first 60 days free using promo code 60FREE at checkout.