What systems do you have in place to manage your property?

[Jake Burgdorf]

Hi,

I'm curious as to what systems you have in place to help manage your properties. I'm a newbie and want to figure out a system that works for me before purchasing my first property.

Thanks!

Jake

[Will Fraser]

Hey @Jake Burgdorf!  I want to share a few things that I've done here and then implore you.

Systems:  I have a number of systems in place, almost all of them coming from @Brandon Turner's book on Managing Rental Properties.  

- Keep commonly bunched forms in folders on a service like Dropbox or Google Drive.  These include "new application packet", "new tenant packet", "Late payment packet", and "Move-Out packet."  This makes it easy to find these and delegate these steps when possible.

- Advertise rentals on Zillow, collect rent on Cozy or Zillow, and integrate the tenants into my CRM to proactively stay in touch.

- Use STESSA to track returns.  It's amazing and visual.

Now to the imploring:

- Don't learn AND THEN buy . . . you should and will NEVER be done learning and you will encounter yet another entire set of things you need to learn once you start operating rental properties.  Get started sooner, before you know all the answers.

- Self-feed as much as possible.  Cozy.co and the Innago both have websites that you can find easily and much quicker than the speed with with we will see a reply and be back to the question to answer it.  As much as you can, make your knee-jerk reaction "I'll go find that info" and then, once you hit walls you can't answer with a simple google search, ask :) 

I've been improved by this community more than I can express, and I'm thankful for the opportunity to help others along the way!  Go out there and get it, Jake!