How to Organize a Deal Board For Your Real Estate Investments
What is a Deal Board? • An organizational tool to keep track of all the projects you’re working on • Can use any medium- a lot of people use computers • Many real estate investors like whiteboards because it gives them a quick idea of what’s going on any time they need to look up something
Columns • 1. Address • 2. Vacancy (Occupied or vacant?) • 3. Appraisal Value • 4. Cost of House (Includes Closing Costs) • 5. What You Want to Sell it For • 6. Repairs
Columns Cont. • 7. How You Found the House • 8. Title Company • 9. Status • 10. Date of Close
Formatting Tips • Write properties you found yourself in Blue • If the lead came from another source (like a wholesaler), mark it in a different color so you can easily keep track of sources
More on Deal Boards • Great way to keep track of properties on a daily basis • Change the status regularly- is it under contract, active, or have you sent the docs? • If anyone you know wants to buy a house they can quickly reference your board too! • Great way to share and track progress!
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