RealNumberz Financial Freedom Accelerator Lesson 2: The 6 Basic Items Real Estate Investors Need to Know in Order to Get the Truth About Your Returns
Greetings, RealNumberz Real Estate Investor, and welcome back!
Before we get started, I want to congratulate you (yes, again) on your determination to seize control of your portfolio and dig into your RealNumberz to maximize every single one of your investment’s returns.
Today, we are going to make sure you have access to the 6 Basic Items you will need in order to load a property into your RealNumberz account. However, it is important to remember that while these items are important, it is really the numbers that are important, not the documents. If you ultimately have trouble locating part of your paper trail for any given investment, the really important thing is for your to find the data, not get bogged down in trying to go to the courthouse or dig up a document. Just remember that all we care about now is your RealNumberz, and the odds are good one of the individuals we discuss in today’s lesson will be able to give you that information even if you don’t have the papers in question.
To start, however, let’s list the 6 Basic Items that have the information you need in order to fully load a property into your RealNumberz account. Yesterday, you got all your properties loaded into the RealNumberz system. Today, we are going to simply take the steps necessary to access any missing pieces of information about those investments. In most cases, you will be able to find that information in one of these 6 documents:
- The original property advertisement or appraisal report
- Recurring fee documentation (this includes information on HOA fees, taxes, insurance, and any other recurring expenses associated with the property)
- A property summary from the developer
- Your HUD-1 settlement statement
- Mortgage amounts and terms
Some of you will have no trouble finding this stuff. Others may struggle to get it all in one place. Don’t let this slow you down! Here are a few people who may have this information all assembled for you already even if you do not know it yet:
- Your property manager(s)
- Your project managers(s)
- Your financial advisor
- Your accountant or CPA
Take a few moments to send an email, right now, to these individuals. Simply say:
“Good morning! I’m working on getting all of my properties consolidated into one new asset management system. It’s just to help me keep track of everything in one place, not a new [insert their function here]. I was hoping you could help me get some information on [insert the items they might have on hand, such as recurring expenses from the property manager. For your financial advisor or CPA, just make a list of all of it and see what they can help you with]. Thanks so much for your help with this!”
Of course, if you have all of this on file yourself, then you are ready to go. Most of you will have most or all of this information on hand, although you may have to search through email correspondence or your filing system to find it.
Today, your only goal is to assemble this information for each property – or as much of it as you can locate. Then, fill in the blanks on your deals in the system and buckle up. This process is about to get really, really interesting because tomorrow, we are about to ramp up your returns in some very exciting ways.
Today, you have two assignments:
First, get the information you need about your properties. If you need to send some emails or make some calls, today is the day to do it!
Second, input that information. Go back to the page where you added properties yesterday and click on each property to fill in additional information. I would also recommend getting some sort of image for each property either from online or from your own records. This is just to make it easier to find your properties on the page. I can tell you from personal experience, that picture makes life a lot easier!
Investor Alert! At this point in the process, a lot of real estate investors tell me that they make a major mistake in their RealNumberz management. That mistake leads directly to regrets later about how they invested their money, so you must avoid it. Here it is: They get overwhelmed and drop the ball. There is no reason to let this important project overwhelm you. RealNumberz offers a unique sub-account option that enables you to assign this process to a VA, property manager, accountant, bookkeeper, or any other individual who can take it from here, literally! And they won’t be able to see any of your confidential information, either. If this is “as far as you go” in terms of inputting data into your RealNumberz system, then we are fully prepared to help you over this hurdle and get that data into the system where you can work these numbers and optimize your returns permanently.
Click here to go to the Settings Page in your RealNumberz system and add a subaccount now.
A Word of Encouragement: Don’t be “That Investor”
Often, I notice that real estate investors “stall out” after this lesson in the e-course. They send their emails out to their managers and trusted professionals, then find themselves pulled in hundreds of different directions and ultimately never get that information into their RealNumberz accounts. Then, at the end of the year, they wonder where the time (and their returns) went!
Do not be “that real estate investor” who did not take advantage of today’s momentum to optimize tomorrow’s returns. This e-course is specially designed to prevent that loss of momentum, so keep your eyes peeled for tomorrow’s lesson, titled The Truth About Simplified Investing. This is not a lesson you can afford to miss, and it will tell you in black and white exactly how to avoid this catastrophic mistake in your own portfolio.
Until then, keep your eyes on your RealNumberz!
See You Tomorrow!