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The Importance of a Real Estate Track Sheet In the Face of Judgement

by John Fedro on June 13, 2014 · 10 comments

  
The Importance of a a Real Estate Track Sheet In the Face of Judgement

Welcome back,

It still blows my mind when some people believe that all real estate investors are all greedy, heartless, slum lords.

I recently ran into a woman that immediately changed her attitude towards me once I told her I help buyers and sellers as a full-time real estate investor.

Some people have incorrect misconceptions about how helpful investors can be. We are only in business to create a value; we create value by helping sellers and buyers.

The Importance of a Track Sheet

In addition to proving pessimists wrong, having a tangible track-record of your real estate home-runs can be a wise idea for multiple reasons. Besides creating lasting memories, a major reason for creating a physical portfolio of your real estate investing success is for quick evidence to:

  • Show future private money lenders. To help show you have a track record of making good returns.
  • Show future owner financed sellers. To help show you have a track record of making your payments.
  • Show future investor partners. To help show you have a track record of making good returns.
  • Show future employers. To help show you have a track record of being productive and getting things done.

Start showing-off your investing history (or future history) by keeping an outline of every seller you have helped, every buyer you have sold to, and every deal you have created.

This outline can be written down on paper with photos, or you can have an online version to show others. A three ring binder can serve as a nice container for your portfolio-collection of deals.

Related: It Takes a Track Record to Raise Capital for Buying Real Estate

For every property I urge you to create a data sheet that outlines each property’s incomes and expenses. Additional important data to have on your property data sheets are: basic property information, condition when purchased, serial numbers (if applicable), purchase information, selling or renting information, community or subdivision information (if applicable), personal remarks about the deal, repairs made, projected profits, actual profits, any investor profits, bank loans, notes created, and more.

Make sure to include before and after photos of each property you have. Top off the entire deal outline by including a smiling picture of your buyers or renters outside their new home.

In Conclusion

In conclusion if you have never considered making a deal journal or tangible portfolio to highlight your real estate track record then you may wish to do so now.

Be proud of your past. Once this binder is created you will not need to search very far to show potential money lenders what you have been up to and the type of returns they can expect to create.

Love what you do daily,

John Fedro

What’s something you’re proud of in your investment career?

Be sure to leave your comments below!

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{ 10 comments… read them below or add one }

Paul R. Janerico June 13, 2014 at 8:16 am

John,

What a great idea!! We have lots of those running around in our heads all day long but that’s one that would be nice to recall as needed in support of “future” deals.

To Your Continued Success – Cheers!

-PRJ

Reply

John Fedro June 13, 2014 at 12:17 pm

Hi Paul,

Thanks for commenting. I am so glad you enjoyed this concept and that you received some value form the article.

All the best,
John Fedro

Reply

Tom Keith June 13, 2014 at 9:21 am

I like that idea, you could print the deal showing costs and pictures when purchased and sold. I think print media is a great way to present to sellers as it makes it more concrete and maybe expresses the large cost of rehabbing and holding cost. Thanks.

Reply

John Fedro June 13, 2014 at 12:17 pm

Hi Tom,

Great thought! Thanks for commenting and reading along.

Talk soon,
John Fedro

Reply

Dana Nicholson June 13, 2014 at 1:37 pm

John,

This is an awesome blog. I’m glad I came across it in the beginning of my investing business. I will diffinetly do this. Do you have a template or a sample?

Thanks.
Dana
NicholandSons Real Estate, LLC

Reply

John Fedro June 14, 2014 at 3:46 pm

Hi Dana,

Thank you for commenting and your kind words. I’m so glad this article has provided you value in your investing business. Please email me directly for a copy of the Property Data sheet.

All the best,
John Fedro

Reply

Mary B June 15, 2014 at 12:21 pm

Love it!

Reply

John Fedro June 16, 2014 at 10:54 am

Hi Mary,

Thanks for commenting. I am glad this article has helped you.

All the best,
John Fedro

Reply

Shaun June 16, 2014 at 10:30 am

Great points.
It is not that uncommon to hear fairly successful investors to advocate having something along these lines.
Yes I think it is pretty rare for people to actually keep something like this.

I have to admit I have started gathering this type of portfolio to present to lenders/partners but have slacked off a bit.
Inspired to get back to working on that.

Reply

John Fedro June 16, 2014 at 10:57 am

Hi Shaun,

Thanks for commenting and reading along. I agree that people seem to have good intention and start projects that they often times do not finish. I am very very glad to hear you are fired up and will be completing your portfolio soon. Remember that you can always add to it, just get something together and go from there. Feel free to reach out should you need any further help.

All the best,
John Fedro

Reply

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