Systematized Investing for Residential Real Estate

Sep 11 13:24 2011 Luis Roque Print This Article

Systematizing your residential real estate plan is key to ensuring your success as an investor. Take the time to make sure you have a framework that will allow you to monitor and track properties so that nothing falls through the cracks. Set this up first and watch your business grow.

At HIS Real Estate,Guest Posting we do volume investing. In a recent month we closed between 14 and 17 properties; and we’ve done up to 25 to 30 properties in a single month. One of the ways we have been successful at this rate is to systematize our residential real estate plan so that we can manage multiple deals simultaneously with efficiency and precision. I’d like to share with you some of the things that have worked for us.

When we buy a property at a discount, some of the tasks associated with that investment are: rehabbing it; making sure the loan is in place; following through with the loan officer; following through with the agent; removing contingencies; and so on. All of that is a lot of work. Just completing one transaction like that per month is a lot of work. You have to have the right infrastructure in place to make sure these jobs get done properly.

A crucial part of this infrastructure includes a tracking system. This system makes sure that after you’ve acquired properties and begun the rehab process that you will be able to monitor everything that is going on with the house. That way, when you’re out looking for other properties, you will have all the information on the properties currently under renovation so that you can keep all necessary parties up to speed. Without this, you risk dropping the ball. We have dropped the ball and we’ve learned from our mistakes.

However you decide to set up your system, having it in place before you get flooded with inventory will help immensely. Because -- if you design your business correctly -- you will be flooded with inventory.

That’s what happened to us. In one month, we were bombarded with over 150 properties that matched our buying criteria. This was before we really had the right infrastructure and right tracking system, you can believe me when I say that we learned from out mistakes.

One of the worst things that can happen is when somebody gives you inventory that matches your criteria and it drops through the hoops. You’re going to look bad, because they’re going to say, “Oh, this guy is not for real. I gave them the right inventory and they’re not able to follow through.”

Bad news goes out in our market very fast. If you’re doing your job right, yes, the word will spread slowly but surely. But when you do something bad, believe me, those realtors are talking to each other. It’s like they have this secret red phone that they pick up and everybody hears about it.

You do not want to get burned with agents that are giving you the inventory and you do not have the infrastructure in place to be able to manage the properties. So make sure you have that infrastructure ready to go. Doing so will quickly distinguish your business from everyone else in the field.

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Luis Roque
Luis Roque

Luis Roque invites you to learn to earn high and even INFINITE returns investing in commercial real estate with a group (on money you used to have sitting in pathetic CDs at 4% or less) when you become a Select Member with America's #1 Real Estate Network today! Join us for an upcoming educational presentation online to get information or to get started now: Real Deal Commercial Webinar.

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