Deal Boards
I want to take a few minutes to break down our deal board, the way we keep track of everything we’re working on right now. Anyone can do this anyway they want- a lot of people do it on a computer. We like to do it on a whiteboard so at any moment we can take a quick snapshot of what’s happening.
So we start with the address in the first column, then vacancy where we write down if the house is occupied or vacant, the appraisal value, what we bought the house for (including closing costs), if we’re selling it what we’re selling it for, repairs, how we found the house, the title company, it’s status, and when it’s closing.
We write our properties in blue, or if it came from a different source (in our case Brownie) we write it in a different color so we know that’s the wholesaler that sold us the property.
This is how we keep track of our properties on a daily basis. We change the status regularly from under contract, active, time commitment, and sent docs. That way Brian and I can keep track of things, and if someone who comes in who’s looking to buy they’ll know what to purchase it for.
It’s a great source for anyone who comes into our office to know what we’re doing and where we stand.
