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

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

2 min read
John Fedro

John Fedro has been actively investing in individual mobile homes since 2002 and in parks since 2016. Additionally, he’s been assisting other mobile home investors since 2006.

Experience
Investing since 2002, John started in real estate accidentally with a four-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to his cash-flowing portfolio. Since these early years, John has gone on to help 150+ sellers and buyers sell their unwanted mobile homes and obtain a safe and affordable manufactured home of their own.

Years later, John keeps to what has been successful—buying, fixing, renting, and reselling affordable housing known as mobile homes. Like almost every long-term investor, he’s made more mistakes than he can count. John discusses many of them on his blog and YouTube channel, where he shares his stories, experiences, lessons, and some of the experiences of other successful mobile home investors that he’s helped.

John has written over 300 articles concerning mobile homes and mobile home investing for the BiggerPockets Blog. He has also been a featured podcast guest on BiggerPockets and other prominent real estate podcasts, authored a highly-rated book aimed at increasing the happiness/satisfaction of average real estate investors, and spoken to national and international audiences concerning the opportunities and practicality of successfully investing in mobile homes.

John now spends his time actively investing in individual mobile homes and acquiring parks. He focuses on enjoying his time and partnering with other investors around the country to grow their own local mobile home cash-flowing portfolios and reputations.

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www.MobileHomeInvesting.net
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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!

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 […]