04/11/2019
It’s become so much easier. I spoke with my Real Estate agent and we discussed the numbers to submit for a house. I keep reviewing what step we’re on in the process since I’ve done it before. It’s a system. It’s a process. I provided him all the criteria to create the contract. He had already reached out to the seller, another investor, to build the rapport. Apparently, there was another offer, but they didn’t accept and were waiting for ours, which tells us that the offer wasn’t high. In the spreadsheet, I was ready to go 65-67K. List price was 65.
Funny thing, it wasn’t until our spreadsheet clean up did we remember this deal. As we continue to change and improve our process, we get better. During spreadsheet clean up, I added new fields to the “property of hearts” spreadsheet. Columns: “Sent to Real Estate Agent”, “Real Estate Agent visited”. The “Rehab” column was a game changer because it quickly told us, is this easy or hard? Since we’re currently working on Rental #1 and don’t know if/when/how the refinance will work, we agreed it would be best to find something turnkey (or closer to rent ready). This means the spreadsheet had to provide the value “low” under the rehab column. In the spreadsheet cleanup, I noticed truly how many properties needed a high rehab. This makes sense. It’s a fixer upper. If you provide value, then the numbers will be good.
