Systems and Processes

[Adam Johnson]

Hello all,

I recently started out in the note business in late 2019 and am eventually wanting to grow to a minimum net income of $5 K per month, the research and studying that I've done so far has emphasized a lot on the importance of having standardized methods, systems and processes in place or at the very least fully developed and ready for implementation as the business grows over time. Would anyone be willing to share what kinds of systems and processes they have developed and/or implemented in their note business that have helped them? A search of the site has pointed me towards Adam Adams on youtube; he has some videos related to the topic that I'll be checking out. I would suspect that different practices would be more applicable to the business at different points of the business growth, for example I currently am not paying a VA to find deals for me but plan to hire one once I have 5 notes or so on my books; I am not currently doing any marketing campaigns but I would not expect to implement that until the 8 to 10 note mark. If anyone would be willing to advise at which points they would implement their business practices that would be extremely helpful as well!

[Bob Malecki]

We use Insightly to manage both investor leads and put our notes in the Projects pipeline for tracking. Slack for messaging between team members, Sharefile to store collateral, company docs, marketing materials, etc. Basecamp for project management that requires communication with outside, 3rd party members, FCI for servicing, Googledocs for sharing spreadsheets. For my various JV projects I created a project cost (P&L) spreadsheet template and have my VA keep track of all income & expenses, then can share that sheet with each JV partner. Simplifile for e-recording, Lareta for tax tracking, and of course BP for help with difficult problems.