Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.
* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…These are exactly the kinds of deals he does day in and day out. Most ‘investors’ are getting it wrong. It’s not about the property, it’s about the buyer. Buying right and buying cheap is what you’ll do after you have the buyer.
* How to have a buyer or renter before you even buy property…* How to have them already pay you money before you sold them anything…
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Hi, it's Lou Brown. I'm back with another of my 101 cash
flow accelerators. And one of the things that is very important in having a
successful real estate business is paperwork management. Sorry guys. This is a
detail oriented business. The paperwork does matter. Finding the paperwork
absolutely matters and it's important that you always can put your finger on
it. One of the things I developed over time, you know, if you think about it,
once you get into a real estate transaction, it can be quite thick over time
and you've got the have different segments, to be able to find things quickly
and easily. So I found these six part folders that pretty much just show you
what you can do with each one of these segments. So if you look at that one section,
and if you start with this section over here, that's the first section.
flow accelerators. And one of the things that is very important in having a
successful real estate business is paperwork management. Sorry guys. This is a
detail oriented business. The paperwork does matter. Finding the paperwork
absolutely matters and it's important that you always can put your finger on
it. One of the things I developed over time, you know, if you think about it,
once you get into a real estate transaction, it can be quite thick over time
and you've got the have different segments, to be able to find things quickly
and easily. So I found these six part folders that pretty much just show you
what you can do with each one of these segments. So if you look at that one section,
and if you start with this section over here, that's the first section.
This is my buying section. This is where I put the
contract, all the purchase documents, everything related to the initial
purchases here. The second section I do teach trusts, land trusts and personal
property trusts. And so we have the trusts documents in this next section. The
third section is the property taxes and insurance section. So anything related
to that would be pinned into this section. Fourth section is the asset itself,
the details about the asset itself. And you know in any information about that
property, lay outs for the property, surveys, appraisals, anything related to
the property. And the final section is selling. Once we sell the property,
purchase and sale agreement, everything related to it. Well, so over time I
discovered what we needed in each one of these sections. So I created a system
called business management where we actually give you a cover sheet for each
one of these sections.
contract, all the purchase documents, everything related to the initial
purchases here. The second section I do teach trusts, land trusts and personal
property trusts. And so we have the trusts documents in this next section. The
third section is the property taxes and insurance section. So anything related
to that would be pinned into this section. Fourth section is the asset itself,
the details about the asset itself. And you know in any information about that
property, lay outs for the property, surveys, appraisals, anything related to
the property. And the final section is selling. Once we sell the property,
purchase and sale agreement, everything related to it. Well, so over time I
discovered what we needed in each one of these sections. So I created a system
called business management where we actually give you a cover sheet for each
one of these sections.
And each section has its own divider, its own relative
information in there. And with the list that's in that section, you simply
check off what's related to that. Now let me have that for you on a forms disc,
I'm going to see if I've got business management right here. And sure enough,
there it is. And this, this is a work of art. Let me tell you, it took me two
years to write this. Business management baby. And this is where we have been
able to put together how to lay out your office, how to lay out your files,
your file folders, your step by step processes, your procedures, setting up
your business right means you will have paperwork sanity and in a business with
a lot of paperwork going on. That's very important. Now the second thing that
we have is a resident file.
information in there. And with the list that's in that section, you simply
check off what's related to that. Now let me have that for you on a forms disc,
I'm going to see if I've got business management right here. And sure enough,
there it is. And this, this is a work of art. Let me tell you, it took me two
years to write this. Business management baby. And this is where we have been
able to put together how to lay out your office, how to lay out your files,
your file folders, your step by step processes, your procedures, setting up
your business right means you will have paperwork sanity and in a business with
a lot of paperwork going on. That's very important. Now the second thing that
we have is a resident file.
So each one of our residents, there is a file assigned to
them. So if you say, well this is the asset file that has the six sections in
it, this is the resident file. Now in the resident file on one side, I would
have all the information about that particular resident on one side. And on the
other side I would have their rental agreement and everything that is relative
to the current relationship that we have with them. So at any time a resident
might move out, well at least we've got a full file on that particular
resident. Their name doesn't change, but who lives in the property does change.
So that's why we separate these two out. Even have two separate file cabinets
for the asset versus the residents.
them. So if you say, well this is the asset file that has the six sections in
it, this is the resident file. Now in the resident file on one side, I would
have all the information about that particular resident on one side. And on the
other side I would have their rental agreement and everything that is relative
to the current relationship that we have with them. So at any time a resident
might move out, well at least we've got a full file on that particular
resident. Their name doesn't change, but who lives in the property does change.
So that's why we separate these two out. Even have two separate file cabinets
for the asset versus the residents.
So hopefully I gave you some insight. All of the
paperwork, the cover sheets, the step by step processes and procedures are all
laid out in my business management system. You can find that by going to
StreetSmartInvestor.com and click on tools and then click on volume seven
business management. I hope this has been valuable to you. Paperwork Sanity is
incredibly important in this business and we've learned how to do that and
share that with you. If you like this, click like click love, share this and
definitely subscribe. I hope to see you soon. Yeah, baby!
paperwork, the cover sheets, the step by step processes and procedures are all
laid out in my business management system. You can find that by going to
StreetSmartInvestor.com and click on tools and then click on volume seven
business management. I hope this has been valuable to you. Paperwork Sanity is
incredibly important in this business and we've learned how to do that and
share that with you. If you like this, click like click love, share this and
definitely subscribe. I hope to see you soon. Yeah, baby!
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