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.
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
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.
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 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,
What’s something you’re proud of in your investment career?
Be sure to leave your comments below!