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!
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
When you link your accounts, all of your income and spending are immediately loaded. This is beneficial for:
The software is divided into three different sections.
This will assist you in understanding your values, occupancy, budgets, and projected returns.
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.
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.
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.
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 all of your lease, purchase, mortgage, insurance, and vendor receipts in one location, categorized by property.
Your CAPEX papers can also be saved here so that depreciation can be calculated easily during tax season.
It’s absoutely FREE!
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.
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.
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.
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.
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 Real Estate 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 real estate, 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 Real Estate assets and start building YOUR digital empire!