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New Investor Checklist - Kathryn E. Roberts Coaching


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 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

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