6 Tools Property Investors Should Use To Stay Organised

Here is my top tools every prop­erty investor should be using to stay organ­ised and most import­antly on budget!

A lot of prop­erty investors don’t even know they exist or under­es­tim­ate how much they can help you dur­ing the journey.

They may take time to set up but if your ser­i­ous about invest­ing they will double your pro­ductiv­ity, I chal­lenge you to prove me wrong.

You will find your­self get­ting through things quicker with,

  • Clear com­mu­nic­a­tion,
  • Instant access to answers, and
  • Clear plan­ning.

Admin, logist­ics and planning 

vis­ion board app

This is goal set­ting on ster­oids. Hav­ing a strategy of where you are going can make all the dif­fer­ence where you end up. I have found tak­ing the time to do a Vis­ion Board has helped me clearly define/picture what I con­sider suc­cess. There has been strange moments where I’ve looked at Vis­ion bor­der from five years ago and real­ised I have ended up where I wanted to be. This can help you cre­ate a 5 to 10 year plan and help you choose what kind of prop­erty deals you need to do to get there.

Airbnb app

To work within Fin­an­cial restric­tions you may need to pur­chase and ren­ov­ate the prop­erty out of your local area or even inter­state. Also you may choose not to live on site as you’re renov­at­ing. This handy app has every day people rent­ing out rooms in their prop­er­ties to help them pay for the prop­erty. Why not rent a room close to your renov­a­tion site or in the sub­urb that your research­ing in. This will help you get a feel for the area and at half the cost of a hotel.

Drop box

This is a file shar­ing app that can be syn­chron­ised with all your devices includ­ing your com­puter. I find put­ting feas­ib­il­it­ies, site plans and work­flows on I am able to get a lot of work done very quickly as prob­lems arise. Also if any­thing crashes I can still have access to all my doc­u­ments includ­ing my pho­tos without los­ing any updated inform­a­tion. Such a great way to back things up, and believe me it saved me a couple of times.

Floor­plan­ner

Us real estate agents use this all the time in our mar­ket­ing when selling our prop­er­ties. It helps you show how someone would live in a prop­erty and had where to place fur­niture and amen­it­ies. There’s no reason why you couldn’t use this as a work­ing draw­ing, mak­ing changes as you go.

check listsreal estate investor makeing a check list

After work­ing within a prop­erty man­age­ment depart­ment and renov­at­ing for profit I don’t know how I would sur­vived without check­lists. I cre­ate check­list every day and find myself to be twice as effect­ive than without doing one in the morn­ing. I have found that it’s even get­ting people to email me in check­list form usu­ally pro­duces a lot of mis­takes. For example when my Fin­an­cial plan­ner con­tacts me to action things in my self man­aged super fund I tell him to give it to me in check­list format. It helps reduce long emails and cut through straight to the point plus you can duplic­ate it and give to some­body else.

life­style budget

This should really be on top of the list. It’s one of the most simple things you can do but not easy. What gets tracked gets meas­ured and that’s what I can say about our expenses, sav­ings, char­ity and investing.

Some people don’t beleave in budgets or they think they will be a tight ass. People say to them selfs “what will my friends think of me?” or “I don’t want to be known as stingy”. Well so do I, and I have found I actu­ally have more money with less.

Let me cla­rify, I budget for fun, going out, hol­i­days, mis­cel­laneous, presents and clothes for my wife lol. I don’t miss out in life but I do focus on what I really want in life and by budget­ing for fun I don’t have to worry about the money I’m spending.

The same goes for invest­ing, char­ity and sav­ing for big ticket items. Tony Rob­bins once said “spend less than you earn, and then invest 10%” He also talks about giv­ing 10% but I’ll leave that up to you. By aver­aging out your expen­cesses of the year you get insights into your life and how you can do things better.

This really helps you plan for when you don’t have a reg­u­lar income as a full-time prop­erty investor. You can see at any time a snap­shot how long you can live with your cur­rent life­style, until you can get your next cash injection.

Tip; Start slowly and be patient and let the budget build over a year to flat­ten out the big expenses.

Simply budgets Is a great extra tool to get you star­ted if you want a quick fix. For the long term I sug­gest cre­at­ing a budget in excel and set­ting up the auto­matic pay­ments sys­tem, this is built into all online bank­ing sys­tems. It helps when you don’t even see the money go out. Set­ting up more than one off­set or high interest accounts also can help.

Let me know if these tools and tips have helped in the com­ments below.

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia