Stessa Review 2024: Best Real Estate Profit Maximizer?
Stessa Review [year]: Best Real Estate Profit Maximizer?
Are you still utilizing Excel spreadsheets to track the financials of your rental properties?
Most new landlords are unaware of how much data and information they must keep track of for each rental property on an ongoing basis.
Stessa helps customers handle their rental property finances by consolidating all transactions in one location for easier tracking, management, and performance reporting.
Is this the best software for you?
Is it different from any other property management software?
This review will go over Stessa to see if it really is the best real estate course out there.
You'll learn whether real estate is the right online business for you.
And at the end, you'll find answers to some of the most frequently asked questions regarding Stessa and real estate in general.
But most importantly, you'll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income.
This system made them swear off real estate for good, because it uses some of the same skills but in a much more powerful and profitable way!
This Stessa review has been thoroughly researched with information and testimonials that are available to anyone in the public. Any conclusions drawn by myself are opinions.
- Many people like Stessa's user-friendly UI
- Individual investors can utilize Stessa for free (with optional premium services available)
- It is a platform that has earned the confidence of its users
- Despite their trust in the system's security, some customers just do not want to connect their bank accounts to other sites
- Some forum members have expressed dissatisfaction with the speed with which customer care responds
- Some people wish Stessa had more customizing choices
Why Listen To UsMy name is Josiah, and this is my Dad, Joel.
Together, we make up the team here at Scamrisk.
If you’ll let me bother you for two minutes, I’d like to quickly explain why I’m even here writing this review.
In early 2020, I had just graduated from college & had no real career prospects.
I knew I was destined for something more, but I had no clue how I was going to make it happen.
I had this sinking feeling in my gut all the time… like the “big man upstairs” had accidentally given me the version of life where I’d be mediocre forever, instead of the one where I was, ya know – happy & fulfilled.
I had fiddled around with some different online businesses in college:
Some random MLMs, a bit of affiliate marketing, a (failed) dropshipping store or two, all the usual suspects.
Even my dad had been involved in MLMs back in the day… selling knives & other random nonsense people (probably) didn’t need.
All I really wanted was to find something that was going to actually work for me.
Maybe those things had worked for others, but for me it all turned up a fat “0” in the bank account department.
So I searched! And searched… and searched… and searched…
And eventually, I somehow stumbled upon a program that promised to help me build an income online (read about it here if you’re curious).
I didn’t really want to be “rich”.
The thought of making a reliable $5K per month & not having to worry about clocking in to a 9-to-5 ever again was all I needed.
Sure, there were people in the program doing high-6 and low-7 figures per year… but that wasn’t what I was out for.
I just wanted to provide freedom for myself, and if I was lucky, take my family along for the ride.
Fast forward a few days and a few phone calls & I was enrolled!
Here’s the first “money making website” I put up:
I built that site in 2020, and it still makes me $1,500 per month. It’s a basic 5 page website I built based on a template the program provides.
The best part to me? My dad and I get to do it all together!
So between the:
Is why I recommend local lead generation as my #1 business model for making money online.
Sure, it takes some work and dedication – but anyone that tells you that there’s a business out there that requires no work is selling you a lemon.
I’m not saying you need to sign up for the same program I did, but I would definitely recommend giving the business model a peek!
What Is Stessa?
Stessa is a rental asset management software that is hosted in the cloud. One of the most common mistakes landlords make is failing to operate their rental properties as a company.
Stessa is a tool for monitoring time and costs related to property ownership. However, it is more vital to monitor the performance of your rental properties.
Tracking the time spent managing a rental property can help us save money on taxes by allowing us to claim the QBI Deduction for Rental Property.
Landlords watch all financial activities in addition to rentals and mortgage payments. Repairs, insurance, utility bills, property management, and any capital cost enhancements are all included in this category.
It's also a good idea to store all of your lease agreements, move-in/move-out inspections, appraisals, vendor contracts, and insurance policies in one place.
Landlords have traditionally depended on file cabinets and spreadsheets, which frequently result in document misplacement or failing to provide all financials throughout tax season.
Stessa assists you in automating all of the financials related to each property. It also keeps all of your property records, from acquisitions to operations, in one place for free.
This Stessa review will concentrate on the many elements of the program, particularly the automation and time savings.
Quick Facts: Stessa Product Highlights
Individual investors can use Stessa to track their income and expenses for free. Its objective is to make rental property finances easier to manage by keeping everything in one place.
Users may automate reporting and track and record revenue and spending on the move using Stessa. A visual dashboard displays the monthly net cash flow of your property portfolio at a glance.
Management Of Receipts
You may use your iOS smartphone to upload and classify property-related receipts. All receipts scanned w/ the mobile app are instantly uploaded to the web platform, allowing you to stay connected with real-time data no matter where you are.
Easy To Use
It is simple to use, according to users. Add your properties and link financial accounts—Stessa protects sensitive financial data with bank-grade security. You can access your information from anywhere after you've set it up.
Stessa also assists users in preparing for a less stressful and more simplified tax season. Using the program, categorize and organize your costs into categories to help you optimize your deductions. Stessa also creates tax-ready financial reports for properties automatically.
Basic Services: Free
Stessa is entirely free to use. However, keep in mind that Stessa makes a portion of its revenue by directing customers to other service providers such as insurance companies, mortgage lenders, and other real estate investment services.
Premium Services: Individual Pricing
Tools for rent analysis, mortgage finance, and market research are among the premium services available to investors. However, these services are not aggressively marketed across the network, nor are partner marketing messages overt or distracting.
As a result, the free tier is the majority of the service, rather than just a starting point for upcharges.
Is Stessa Safe?
Stessa, according to its website, was built from the ground up with numerous levels of security and bank-grade encryption to keep client financial data safe and secure. Stessa does not allow you to transfer money into, out of, or between accounts.
As a result, even if your Stessa account is ever compromised, your money remains secure.
Is Stessa Really Free?
Yes!!! Stessa assists you in automating all of the financials related to each rental property ownership. It also keeps all of your property records, from acquisitions to operations, in one place for free.
What Does Stessa Do For Real Estate Investors?
Choose the number of properties you want to manage with Stessa.
Stessa collects all pertinent property data from Zillow when you enter your property address. If any of the data is inaccurate, you may change it. This is a great tool for your real estate investments.
Adding Bank Accounts
Connect all of your financial accounts that are utilized for all of your company transactions. This includes your mortgage lender, rent payment institution, and credit card used for spending.
Setting Up Bank Accounts
If you have your mortgage at a different bank than where you get your rent and pay your bills, make sure you connect the two.
Don't forget to connect your company credit card. This ensures that all of your costs are immediately accounted for in cash flow analysis and tax reporting.
Linking Bank Accounts
When you link your accounts, all of your income and spending are immediately loaded. This is beneficial for:
- Getting ready for tax season without having to worry about missing any financial data
- Looking for any unpaid rent
- Keeping a close eye on your spending & making the necessary changes
- Monitoring your property's performance
The software is divided into three different sections.
This will assist you in understanding your values, occupancy, budgets, and projected returns.
Stessa Dashboard For Real Estate Assets
In my case, the return is 0% because this statistic is just concerned with price appreciation. It considers CapEx but excludes all other cash flow.
Income And Expense Tracking
Stessa maintains track of real outcomes at tax time when you have safely connected your bank account. At a glance, you could tell if you are behind on rent if you have any unneeded costs, and how your property is performing.
Tracking Income & Expenses W/ Transactions
While the program will automatically import all of your transactions, you can also manually add any transaction. This might be a cash payment or the usage of another account that has not yet been connected.
If there are transactions that are not related to the property and are personal in nature, you may quickly delete them from the program so that they are not accounted for.
Stessa also allocates categories to various transactions automatically. If you wish to modify the category, you may easily do so.
Track Mileage For Rental Property Owners
If you want to claim mileage expenses for your property, click "add transaction" and go to the mileage page to input the data. The most excellent part about inputting your mileage in Stessa is pulling in the IRS Standard Mileage Rate for the year.
Having all of your transactions in one area will save you a lot of grief come tax season. Also, if you're ever audited, you will have all of your information easily available.
Keep Investment Paperwork Safe
Keep all of your lease, purchase, mortgage, insurance, and vendor receipts in one location, categorized by property.
Stessa Document Organizer
Your CAPEX papers can also be saved here so that depreciation can be calculated easily during tax season.
How Much Does Stessa Cost?
It's absoutely FREE!
How Does Stessa Make Money?
Stessa makes money by directing users to associated services that property owners may need, such as mortgage lenders, insurance firms, and other real estate investing services.
A Stessa Rent Estimate may be purchased for $19.99.
You may also receive a rate quotation from Stessa if you want to buy or refinance a home.
There was no irritating email or sales push to use the other connected services when using the program.
Can You Make Money With Stessa?
Yes, you can make money from rental properties.
There's a lot that comes along with real estate that many people struggle with.
In fact, check out this list of the Top 5 Reasons Why Real Estate Investors Fail.
Now, don't get the wrong idea...
It's not impossible to make money with real estate, but if you're gonna put in the amount of grueling work to do this business (which, trust us, isn't easy), you might as well bring in some REAL money while you're learning the ropes.
The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.
Is Stessa A Scam?
Stessa is not a scam.
It is entirely possible to build a profitable, successful real estate business... But there are better ways to build a business other than with real estate.
Because unlike Stessa, it actually provides real proof of real success from real people as recently as a few days ago.
Is Stessa Legitimate?
Stessa is a legit company. It is beneficial especially if you have multiple properties.
But, when it comes to building a business, you have plenty of options.
And even if you're dead set on becoming a real estate investor, you've got way better options than Stessa.
Keep in mind, we don't get paid to promote any of the programs we review. We personally think real estate is a great business model, but you could end up leaving way too much money on the table.
What Is Our #1 Recommendation For Making Money Online In 2024?
Where this Stessa falls short is in scalability. Because in order to make a good amount of money with real estate, you have to own many properties.
And who has that kind of capital to start?
But what if you went local?
With Local Lead Generation, you will be getting service requests from multiple sites at every minute of the day from people who are willing to pay a lot of money for what you can provide them.
I was watching a YouTube video once where the host made a comment that it isn’t about making a lot of money from one website… it’s about making a little bit of money from lots of different websites.
So, think of it this way….
What if you could have streams of investment income where you operated 10 rental units that you could charge anywhere from $750-1,000 per month?
That’s $7,500-10,000 per month in passive income!
What If You Invested Into 100 Rental Units?
But instead of spending $Millions to build houses or apartment complexes… you spend a couple hundred dollars to build websites.
You then get those websites ranked in the search engines for specific home-based services that customers are searching for.
Next, you offer your lead generation system to local business owners who are looking for customers and are willing to pay you for their information.
You’ve just created a Digital Leasing Investment Empire that is potentially earning you 4-5 figures in PASSIVE INCOME on a monthly basis without spending a single dime on ads.
With conventional Digital Leasing, you have to compete with thousands, if not millions of others who are selling the SAME product to the SAME customers.
Unlike Stessa, where you’re profiting maybe $250 per property, you could be getting 5-10X THAT.
With Local Lead Generation, the competition is virtually nothing and your profit margins are 85-90%.
Now, I could go on and on, but I’m sure you have tons of questions about how to create Digital Leasing assets and start building YOUR digital empire!
#1 Business Recommendation
We each make around $10,000 per month with the help of this system.yes, show me more