Indiana-Joe's Property Radar Book - My Basic Organization & Tips

Great idea! Being organized is essential in this business. Paperwork can easily become a problem. Placing things that are associated with that particular property is very wise. Seeing things in a organized fashion will help keep you focused. I always remind myself that if you don't know where your going, how are you going to get there! Thanks again Joe for the tip. Continued success............Lubertha

Joe, I love your creative names for everything! And I love the Radar Book. (I know mine was one of the questions you were answering. thank you.)
I've had to organize the listings by category, too. It can get overwhelming if you don't have a realtor keeping files for you (mine does, but I like to have them at home, too). Over the weekend I was reorganizing my "for sale", "looked at", "offered on", "bought", "sold". My favorite files are the "holds". It's so fun to look back at the original listing sheet once in awhile and see the progress of your property (and to realize how much passive income you've brought in from each one so far!)

Thank, Joe, for sharing the radar book. It's SO important to keep organized. What can be overwhleming to me is the sheer number of props one sometimes has to keep track of at a time. Do you limit yourself to a certain number? Or what is your strategy to keeping the number at a manageable size?

To your great success!

Rina

Great organizational skill. I use the 3-ring binder and sleeves as well. Whenever I get a business card from a realtor I always ask for two - one to place with the property and one for my business card book. It's a small black book that I am able to put numerous business cards. I carry that in my brief case.
Kat

Just a quick note on what I also do. Is while driving I use a recorder an then later record in the book. I find my palm pilot very helpful also..........Lubertha

Thanks for the email and comments and also informing us of your tips. The more organized you are the more time you will save later looking for more property deals rather than trying to remember a certain proeprty's features.

Also, when you look at a lot of properties you may not remember everything such as did that property have central air or was it a 2 car garage or a 2.5 car garage, etc. Thus, the more notes you can take the more time you will save later. Good luck on your delas. Believe and Achieve! - Joe

Thanks for the reply and sharing your comments. It is ironic the more properties you look at or consider for a deal the more information you may need to keep each property straight.

Another tip that I would offer is to buy a digital camera and take pictures a lot of pictures of each property you go to look at. Take the first picture of the home address so you can keep each properties pictures identified and organized. The second picture should be of the exterior of the home, etc. It is true that pictures are worth 1,000 words. The pictures will later help you remember the condition of the property and repairs you may need to make, etc.

Thanks for the excellent point of the other books for your "investing library". Maybe it would be a great idea to start your investing library of binders to include a binder for each: "for sale", "looked at", "offered on", "bought", "sold" and "holds". Thus, lets call it "Rina's Investing Library Binders of Information".

In regards to managing the number of properties, I organize them by my target areas. The number on the radar can change from day to day. The more properties I have on my radar the less likely I get the emotional tie to one property and feel like "I have to have that one property".

Thus, what I recommend to new DG Members is start your organization first and get ready to go. Once you take off, your seat belt should already be fasten for action! As an investor you want to create systems for everything. I think back to how Dean and Matt talk about structure and systems. I have tried to apply a system to each aspect of my investing so later as it grows, I have systems in place and I can add procedures and people to help manage the systems.

You also should start with a comfortable number of properties to keep an eye on. I also have created a summary using the software excel to track and organize information. For those that do not have excel you can you a piece of paper and organize the information by creating one line for each property with column topics to track each one. Useful items may include size of home such as "3 bedroom / 1 bath" or "4 / 2", when the property was listed on the market, type such as FSBO, REO, Estate Sale, Regular, listing agent on property, etc. and so on.

I could go on and on, so if people have more questions or want more details, please let me know and add a post to this thread. I hope this helps. Good luck on all your deals. Believe and Achieve! - Joe

Thanks for the comments and the tip on the 2 business cards. This is great. The key to good information is having it when you need it and you need the most information you may have available to try to make the best decision you can as you move forward with deals and offers. Thus, I always feel like you can never have enough information on a property. Good luck on all your deals. Believe and Achieve! - Joe

Joe, thanks for the tips. It helps as I get started. I just did a mailing, my first, and have received lots of call - to my surprise! I am not sure how to organize these leads and which ones to really go after. Any suggestions. I know each is a potential deal. It is overwhelming.

Thanks!

Thanks Joe, this a wonderful idea, thanks for the tips. It will helps as I get started.

This is some great information. It is funny organization is not my strong atribute, and I really struggle in this area. So I have had a difficult time running a business (really 2), a household, working outside of the home, and let's please not forget basketball and ministry.

So thanks I am going to work on my book right now.

This is some great information. It is funny organization is not my strong atribute, and I really struggle in this area. So I have had a difficult time running a business (really 2), a household, working outside of the home, and let's please not forget basketball and ministry.

So thanks I am going to work on my book right now.

What a great tool to have in our offce or even we are on the road. Also good to keep your organized and neat. Much Success !!

Paul T. La Moy
Hudson Valley, N.Y.

Great Ideas!

Thanks for the reply and comments. Congratualtions on getting some possible leads. The best advice is create a system as you look at each property to keep the property and the numbers straight. If the number look good go after more than one deal, just always ensure what your end strategy is such as assigning, flipping or keeping. On the back end always have your financing or buyers lined up so you can efficiently move from deal to deal. Good luck on all your deals. Believe and Achieve. - Joe

Thanks for the comments and reply. Congratulations on getting started. The key is to learn a little more information each and every day and stay persistent. Do not give up, persistance will pay off in the long run. Good luck on all your real estate deals. Believe and Achieve! - Joe

Thanks for the reply and comments. I sometimes think of the saying "if you want something done, then give it to a busy person". Well, it seems like you are that person and I am sure you will be able to get this done too. A little organization can go a long way and save time. Good luck on all your real estate deals. Believe and Achieve! - Joe

Thanks for the reply and comments. I am glad it helps as I have stated it has helped me as I continue the search. I wish you much success and good luck on all your deals. Believe and Achieve! - Joe

Thanks for the reply. Good luck on all your real estate deals. I am glad my information may be useful for your REI. Believe and Achieve! - Joe