Making the best of COVID-19 - Improving Real Estate Operations

[Austin Laughner]

With COVID-19 locking down Chicago, I've been transitioning my focus onto improving operational aspect of my RE portfolio.

Items currently underway:

a. Working with my real estate partner to keep a running ledger of financials. We've transitioned working documents to the cloud and set distinct roles for who should update what and when. This will help during tax time (next year) and allows us to better assess ROI of portfolio at a given time

b. Structuring LLC - assessing whether a Series LLC or Traditional LLC for each property would be best for needs

c. Organizing paint and hardware within rentals; in preparation of future repairs

Is anyone else taking this time to improve their RE portfolio operations? If so, would like to hear what you are improving to plan for the future.

Austin Laughner