Systems and spreadsheets, where to start?

[Ryan Palmer]

I'm a computer engineer about to plunge into raw land investing. My engineering mind wants systems in place before I even start looking for my first purchase. I know that every successful investor utilizes spreadsheets to record data, but without concrete examples I am completely at a loss. I've never done any kind of investing before.

The obvious data to record would be the purchase price, market value, sale price, and associated fees for each parcel that I acquire. That's easy, but what else? Should I keep one spreadsheet for tracking prospective properties and recording the results of my due diligence, and another for tracking sales results post-deal? 

The other obvious use for a spreadsheet is to maintain a buyer list. What does a good buyer list look like? What about a potential motivated seller list? What would this list look like?

My biggest concern is making my first investment a successful one. I have already requested delinquent tax rolls from several counties, and soon I will have a list of opportunities at my fingertips. I want as much of the fundamental systems in place NOW so that I can hit the ground running and move through my first deal without skipping a beat.

Any advice from people who remember the systems they had in place first when they started is greatly appreciated. This includes non-spreadsheet-related tips as well!

[Ryan Palmer]

@Daniel Duque

Actually I came up with that little idea myself when looking at a population density map of the US and trying to come up with a strategy. The small low density counties surrounded by hundreds of miles of high density counties seemed like little oases of privacy in a sea of people. I did get the suggestion for population density from a Seth Williams article though. I didn't know he had a podcast, I will check those two out. Thank you!