Hello BP! This question is for more experienced flippers and flippers...
I've been investing for 10+ years now (flips/buy and holds) and have switched to being a full time investor for about the last two years. Whenever I've done a flip I've always compiled all of my receipts/invoices, HUD1's (purchase/sale), tax docs, permits and any relevant info for that specific flip in a black binder labelled with the address of the property. I've always organized this way but it just feels like a very bulky and dated way of doing things. What have other flippers done to keep their flips organized? I appreciate any suggestions or ideas. Thanks in advance!
I prefer to keep as much of it electronically as possible.
Yes, there are some receipts that I do not bother scanning, but for the most part it is paid via check or credit card which feeds into Quickbooks.
All HUD-1s, agreements etc are stored electronically.
Files are backed up in the cloud and on an external drive.
Quickbooks, lots of custom spreadsheets and then folders for each property for paper docs and receipts.
Thanks Percy N., thanks J Scott...I guess I better get my business out of the stone age. Just kept focusing on finding and flipping the properties, never gave the organization aspect enough commitment. Will start setting that up.
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