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Updated about 7 years ago on . Most recent reply
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File organization best practices
I settle on my second property next week and have decided to make a real go at REI (meaning I will be buying additional properties shortly). For the past couple years there has only been 1 property so the business folder and the property were always the same thing. Now that I'm about to add a second I can tell things are WAY messier than they should be. So I want to fix this now, instead of doing it after things start getting mixed up and it's a real mess.
I use Google Drive to store all documents about the business and know that I should have a folder for each property. But my hang up is how to organize things form that point forward (I can see so many ways to do it, that I can't pick one). I'd love to know how seasoned investors organize their file structure. What is your standard folder structure for each property? What things do you keep at the "business level" vs the "property level?" Any other best practices I should look to follow from the start?
Thanks!