Maybe this seems like a silly topic to write about, but a couple missed opportunities over the past week made me realize that this is an important topic for new and experienced investor alike and can actually lead to more deals!
As real estate investors, we always want to keep an eye out for deals and just like the Boy Scouts of America motto we want to “Be Prepared”! So with that, here are 6 essential items that I believe every investor should keep in their vehicle:
Pad & Paper: This seems like a Captain Obvious statement, but you definitely want to have an easily accessible pen and pad of paper (like this great Moleskin one) in your car at all times. While you’re driving you’re going to see “For Sale By Owner” signs, “For Rent” signs, and “We Buy Houses” signs and you’re going to need something to write that down with. I’ve had to resort to writing on small scraps of papers and gum wrappers…whatever is nearby, however now I’m a bit more organized and keep a small notepad that is precisely for this purpose. The problem with writing on whatever is within reach is that its very easy to lose it!
(Note: Pen & notepad just costs a couple dollars, but a more expensive higher tech option would be to keep a voice recorder nearby so you don’t have to fumble around with a pen & paper.)
Auto Mileage Log: We all need every tax deduction we can get whether we’re a part-time investor with a full-time job or a 
full-time entrepreneur. Keep track of those miles you’re driving! Every single mile that you’re driving to look at homes, meet with sellers, etc. should be recorded for tax purposes. It can be a pain, but do this and you’ll thank me later.
Business Cards: Have you ever looked in your wallet or business card case at an opportune moment just to realize that you don’t have any left? I have. More than once. If you keep some business cards (or small flyers…whatever you use for your business) in your car as a back up, you won’t be left having to write your information on a napkin with someone you meet. Plus, there are so many strategic places where you can just leave your business card. I could do an entire article on this topic, but I do want to mention one really cool technique a friend of mine who is a photographer does. Every time she goes out to eat she leaves her business card with the tip for the waiter/waitress. She takes the time to write a nice note on the back of the business card as well. I think its brilliant. One day I’ll remember to do it myself!
Contracts: You never ever know when you’ll have an opportunity to lock up a deal immediately when talking to a motivated seller — whether its a planned meeting or an impromptu one. Keep an option contract and purchase & sale contract handy!
Digital camera: Perhaps this one isn’t a must, but it can be incredibly helpful. I like to take a photo of the front 
of a house to jog my memory about it later when I know that its one that I’ll be finding and contacting a seller on. You can also take photos of signs rather than writing the information down with pen and paper. A standard digital camera can work great, but in case you’re unfamiliar with the Flip Cam or other tiny portables, they are really nifty video cameras. With a simple one-button record, all you do is plug it right into your USB on your computer to save it or upload it to YouTube. Pretty sweet and there’s are even HD versions which will cost ~$200.
GPS: If you’re really short on funds, a GPS doesn’t need to be on the priority list, but if you can swing it (my Garmin Nuvi cost less than $125), do so! Having a GPS has been a major time saver for me when going to meet with sellers and check out properties. The other cool thing about having a GPS is when I’m driving around and see a vacant home or one is serious disrepair, I can grab the house number but then get the street number from my GPS without having to drive down the street to find the sign. Again, not a huge deal but definitely a time saver.
Depending on the size and contents of your glove compartment, you can use that as a storage place for all of your essentials. I purchased a small plastic box that can fit underneath the seat when its not needed. Hope these tips are helpful for you! If you have any other ideas for investor car essentials, let’s hear them in the comments below!
Photo: OfficeDepot.com, TheFlip.com
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28 Comments
As much as I use a pen and paper (every day) and a voice recorder (a great note taker in the car), I think a capable smartphone will someday replace almost everything on the list.
Yep, I think you’re right about that Scott! Gotta love technology 🙂
You forgot my most essential item: hand sanitizer. That is usually the first thing I go for after I finishing looking at a disgusting house.
Good addition, Steve!
LOL! Definitely a good addition! I keep hand sanitizer in my purse but I guess the fellas would just keep it in the car 😉
Great Post
I carry hand sanitizer as well. This coming from a guy who works in coal plant by day.
I found that a voice recorder is much quicker and safer to use. Many streets I go down simply don’t have a place to pull over and write.
I keep a spare flashlight in my car as well. Nothing worse then getting to vacant home and you are unable to look in the basement for foundation and water issues.
Other items include. Clipboard, extra pen, notepad, map and highlighter to make sure I don’t miss streets. I’ll certainly need to add the mileage log. Good list Shae.
Jason
Hey Jason, thanks for the great additions! You mentioned a map……its so funny because I can’t remember the last time that I used one. Had to be YEARS ago!
Great list, Shae!
Since I’m on the road a lot, I keep a lot of things in the car and just leave them there. I used to have a voice recorder but that didn’t really work out for me. Now, it’s just good old paper and pen. And, now I’m also sure to bring plenty of water – it can get pretty hot out there at times with the summer and all!
Very good list of things to keep in mind here, thanks for sharing!
p.s. My business cards are actually my “ghetto” flyers, does that count? just kiddding! 🙂
You’re so silly! Yes, your ghetto flyers count 😉
As mentioned above, my smartphone can take of everything except for business cards and contracts. It makes me wonder how difficult it must of been to do business 20-30 years ago.
You’re so right about that……things have changed so much and so rapidly. I gotta hand it to the folks who were doing this business (or any other business) 30 or even 20 years ago 🙂
Anthony, I have a BlackBerry and I think it probably does a lot of things that I don’t even realize it does……maybe I’ll read the manual one day!
lol Make that book 25 for this year.
I am in need of a blackberry, but I just “upgraded” to a flip phone last year.
As others have said, I use my iPhone for GPS, audio recorder, camera, note taking, realtor.com, dim flashlight, calculator, email, text, and oh yeah, a phone.
LOL! Nice Jon! I bet my Blackberry has an audio recorder on it somewhere 😉 I will figure that out this weekend. I really only bought it for the email and web browsing capability (using it like an Mp3 is a bonus…but the camera doesn’t take pics as nicely as I’d like).
Great stuff Josh. I carry pen, pad, mileage, contracts,biz cards, flashlight, and leather gloves. My normal transportation is a standard cab pickup. So I keep most of these things in a water proof tub in my bed toolbox. That way I can move it all together if I happen to go in a different vehicle.
Oops, sorry Shae. I didn’t mean to call you Josh. Still a good topic. Thank you for posting.
No worries! Thanks for the comments….leather gloves. That one is a new one for me 🙂
Thanks. A lot of the prospective properties I visit need quite a bit of improvements on them. I use a real fine calf skin glove that is pretty thin. I can still pick things up with it but it prevents minor nicks and cuts to my hands.
Business cards are huge and the definitely need to be up to date. I was a little annoyed when I handed someone a business card and had to scratch out my old website and phone number and re write the new one. Epic fail. lol
LOL! J, that’s funny. Did you order your new biz cards yet?
I’d add to that list: a flashlight, tape measure, clipboard and dog treats. Yes, dog treats. It’s a great way to make friends with the dogs that are either at the subject property or in the yards of the adjoining homes.
LOL! Doggy treats….I love that Terri!
I always have a pad and pen with me. In fact, I have my ToDoList on a piece of paper in my pocket at all times. Keeps me focused. I have been bitten by not having business cards before too. And flipcams are amazing for walk thrus. Every agent and investor should have one or a video solution. Great article Shae!
Thanks Ryan! So you’re old school with pen and paper….they never go out of style! LOL!
Ditto on the tape measure and dog treats! But I wouldn’t be surprised if they come out with “an app for that” too!!!!!
LOL! A dog treat app? Hey, why not?
Great work. This is something really helpful. Thanks for sharing.