Circle of Winners

Every successful investor has what is called a data management system. The system can be as small as Quicken® or Quickbooks® which will track your expenses and income.

There are other programs that can be added to a contact management system which will give you the flexibility to integrate with Quickbooks and are usually used for email and contact information such as Microsoft Outlook with Small Business®.

For the small investor this is usually sufficient to manage a relative small number of properties with a small number of tenants.

For the investor who has a large number of tenants such as multifamily properties should look for a CRM property management system which includes accounting, billing and different forms of communications. (I will address Risk Management at a later date)

If you are a real estate professional and are planning on setting up a data management system there are some first steps that are important to take.

1. Take time to set up a plan for your desired data fields and how you will use the contact data in marketing.
2. Look at protecting your contact and prospect data,
3. Categorize your data in order to make its use easier and your daily activity planning more successful.

A selection or poor design as well as setup can result ina real estate contact that will at best be minimally helpful and, at worst, fails completely with loss of all your contact data.

At the Emerald Companies we did a lot research and had broader parameters before making a decision,

To find out more go to the Circle of Winners Master Mind Group.

Curtis William Lee, Sr. 
cwlsr@cwlsr.com