NEW INVESTOR CHECKLIST
Identify Dates by Each Task for Tracking
Commit to your education - Set up a schedule and budget for meetings, reading time, podcasts
Determine your “Why” - What is it about Real Estate that excites you, what are your goals
Start to identify and lists your strengths and weaknesses as a Real Estate Investor (big picture vs detail, etc)
Start to build your Macro Power Team - Attorney, Accountant, Real Estate Agent, Banker, Like Minded Investors, Mentors
Choose a name for your real estate business
Find an accountant who is familiar with real estate investing to help you understand how RE income and different entity structures will impact your specific taxes
Choose an entity type and register your entity with the Secretary of State
Find an attorney who is familiar with real estate investing to produce your Operating Agreement
Brand your business - have business cards printed with your name, contact info and picture
Choose an initial strategy to focus on and do a deep dive in to
Choose a geographic location to focus on and become an expert in
Set up searches on Trulia or Zillow or with a realtor to receive listings in your chosen geographic area
Regularly read newspapers and professional journals focused on the area you are becoming an expert in
Begin to use and understand how to access and understand the information available on the county websites for your investment area
Begin building your credibility kit
Start to build your micro Power Team - Lenders, Contractor, Home Inspector, Painter, Plumber, Electrician,
Flooring Company, Landscaper, Demo and/or cleaning team
Identify your strengths and skills and what you can offer others when networking (connector, handy-person…)
Identify a potential mentor and initiate a relationship
Listen to and ask questions of lenders during networking sessions - start to recognize and be recognized
Begin marketing for deals (Direct Mail, Driving for Dollars, Courthouse Foreclosures, Wholesalers, MLS)
Develop your offer letters, have a script to talk to sellers
Educate yourself on rehab costs, contractor availability and area’s absorption rate
Do your Due Diligence on identified deals (Title Search, Visual Assessment, Systems Evaluation, Repair Costs, ARV-Comps)
Practice Estimating Costs and calculating MAO (Maximum Allowable Offer)
Practice Estimating Loan and Holding Costs
Do your first deal!!!!
Copyright © Kathryn E Roberts 2018 email@example.com The copyright of the contributors remains with the contributors credited.
All Rights Reserved. No part of this publication can be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any other information storage or retrieval system, without prior permission in writing from the author.
Warning - Disclaimer: The purpose of this checklist is to educate and entertain. The author does not guarantee that anyone following the techniques, suggestions, tips, ideas or strategies will become successful. The author shall have neither liability or responsibility to anyone with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this checklist.
Kathryn E. Roberts, Real Estate Investing Coach