Quickbooks for Commercial Real Estate
I am thinking of joining a startup that helps commercial real estate owners maximize their profits from their properties BUT it only connects with quickbooks (desktop and online).

I am curious what the number of owners use quickbooks and at what point in their portfolio value do they switch to more elaborate accounting packages?

Not going to post link to startup, didn’t want to promote as I am still digging into this.
[{"id": "eyc2lqa", "text": "\u2018Maximize profits\u2019 sounds pretty vague. There are several different types of portfolio management software out there that probably do what you\u2019re thinking about. Not sure why something would need to connect to quick books. Excel compatibility would be much more desirable..", "replies": [{"id": "eycets0", "text": "Still working on the messaging, I agree \u201cmaximizing profits\u201d is pretty vague and yes, excel is probably the biggest competitor.  \n\nI am new to this space but it does seem odd that excel is used so much when most things like CAM reporting and maturing loan alerts could be automated.  \n\nThanks for the feedback by the way, really helps.", "replies": [{"id": "eyci2w1", "text": "Argus is an industry standard + excel..if you can beat that...go for it but again not sure what you\u2019re getting at. Like what would you be trying do with maturing loans? Any prudent investor basically has their loans memorized", "replies": [{"id": "eycnea0", "text": "Not one of the beta testers are aware, that could be who they attracted or that may be an assumption.  One if I remember correctly has over 75 loans and involved with over 50 llc\u2019s, that seemed high to me but again still new to this.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "eyc5h95", "text": "My company owns and manages about 20 commercial properties. All done on QuickBooks.", "replies": [{"id": "eycc7pt", "text": "Which version? I need to buy something. QuickBooks reviews aren\u2019t all that great.", "replies": [], "depth": 2}, {"id": "eycxew5", "text": "What number of tenants? How do you track rent escalations?", "replies": [{"id": "eyd0yk3", "text": "About 250 including all residential, retail, office,and medical. We manage rent escalations and all of that with Rent Manager.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "eyc5yjn", "text": "It\u2019s not a very big number. If you have a large enough commercial asset/portfolio of assets you\u2019ll have an accountant who operates the financials who uses their own methods. Owners typically don\u2019t want/need to do it themselves. Accountants are cheap anyway. The exception to this is maybe an owner who only has 1 or 2 assets where it\u2019s not too much to log everything themselves. However, I\u2019ve noticed owners who own a portfolio of SFR\u2019s tend to self manage more and are more likely to use self accounting platforms like the one you\u2019re mentioning.", "replies": [{"id": "eycf8by", "text": "Interesting, maybe accountants is who I should be talking with vs owners / investors.", "replies": [{"id": "eycxkj2", "text": "I\u2019m an accountant! But I generally don\u2019t provide much help when people come on these boards with their beta software.", "replies": [{"id": "eyczvq0", "text": "I didn\u2019t post the software link on purpose, I have a few building of my own and I am interested in learning more about industry before joining company, thought this would be a good place to learn and ask questions from community.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "eycn5fl", "text": "If you are operating commercial properties with net leases, look at CRESSblue (https://CRESSblue.com) and cut out the need for spreadsheets all together. Why do math when automated software will do it for you?", "replies": [], "depth": 1}, {"id": "eycnjo6", "text": "I see financials for about 800 commercial properties a year and about 1/3 of them is on QB.  It\u2019s usually regional players that stick with QB but some institutional money as well.  Avg property around $15-20m value range.", "replies": [], "depth": 1}, {"id": "eycz1bd", "text": "We use QB for ~2mil sq. ft, of various types of commercial properties plus some smaller developments here and there. And then we use Appfolio for the actual property management", "replies": [{"id": "eyczb63", "text": "So you use both?  Doesn\u2019t Appfolio have accounting as a part of their software?\n\nThanks for the feedback!", "replies": [], "depth": 2}], "depth": 1}, {"id": "eyd5vjp", "text": "I work for a PE commercial RE company that is institutional in size (&gt;$1.5 B AUM). We will not work with property managers that use quick books.", "replies": [], "depth": 1}, {"id": "eydbuh3", "text": "We have 18 SFH and 100K sq/ft over 3 buildings and 18 tenants of CRE.  We use QB, but am not satisfied with it.  Just can't justify the expense for an accounting firm yet, so we do it ourselves for now and have our Tax Accountant double check us. keeps the overhead low for bookkeeping, just not sure at what cost to the business's daily operations.", "replies": [], "depth": 1}]