New to BRRRR’s - calling all checklists/spreadsheets!!

[Account Closed]

Hello fellow real estate professionals!

I’m just starting out on my real estate investing endeavors. I’m looking to create as many checklists/spreadsheets as necessary to ensure I’m doing my due diligence in all matters. Was thinking it would be beneficial to have a checklist for each acronym (Buy, Rehab, Rent, etc.)

Have any of you created checklists? I would love it if any of you would be willing to share what you have come up with!

[Costin I.]

@Account Closed - here is a checklist for you as a welcome gift to RE investing world:

#	Task	Date	Completed?
1	Schedule inspection
2	Attend inspection and fill out the repair list
4	Send earnest money check to escrow company
5	Send option money check to escrow company
3	If you are satisfied with the results of the inspection, REAwill notify your lender and tell them to order your appraisal if he/she has not done so already.
6	It usually takes 3-5 days from the date your lender orders the appraisal for the appraiser to schedule and conduct the appraisal.
7	The appraisal takes 3-10 days for the results to be returned to the Lender and for us to know the number.
8	During this time your lender should have all of the required documents. It’s best to check in with your lender to confirm he/she has everything they need.
9	You should call a local insurance company to get homeowners insurance quotes at this time. It’s best you email your insurance agent a copy of the MLS Listing of the home you are purchasing. - Add Property Insurance - Add to Umbrella policy insurance
10	When you’re about 5 days away from closing you should call the utility companies and ask to “Transfer Utilities” for the date of your closing. You may not be able to transfer / turn on water until after you have closed on your home.
11	You should do a “Final Walk Through” of the property you are purchasing within 24 hours before closing to confirm the property is in the same condition that it was in when you agreed to purchase the property and that all inspection required repairs have been completed.
12	On the day of closing, all signers will need to bring their driver’s license or Passport and a Cashiers Check in the amount you are required to bring to closing. Your lender will be the one to give you the amount you will need to bring to closing. The Cashiers Check should be made out to the closing attorney. This is very important.
13	If your name is on the purchase agreement, you will need to be present at the closing or have signed a power of attorney for someone to sign on your behalf. If you are doing a power of attorney, you will need to notify our Client Care Coordinator and your lender at least seven days prior to closing.
14	The day before closing or sometime the day of closing, you should communicate with your lender because they will need to tell you exactly how much you money need to bring to closing. Don’t be alarmed or upset if you receive this number the day of closing or even an hour or two before closing. This is very common. For whatever reason, the banks often wait until the last minute to get their paperwork to the closing attorney and to their gather final numbers. It’s not your lenders fault; there is a lot of coordination in the final hours between Closing Attorney and lender preparing all of the documentation and Closing Disclosure Statement.
15	Closings are typically done Monday through Friday between 9:00 a.m. and 5:00 P.M. The closing should around 1 hour depending on if everyone is on time and whether or not the loan funds right away. We recommend that you plan at least a 3 hour window for closing in case there are any unforeseen delays. If this is a late closing say 3:00 or later, there is a very good chance it will not fund until the next day. If this happens you may NOT get keys at that time and will have to wait until the loan funds and the Closing Attorney receives the funds.
	What to check the day before closing
16	Call the closing agent to confirm the date and location of the closing
17	Request a preliminary or final closing statement if there is one
18	Review closing figures for any mistakes
19	Confirm insurance, deeds, trust deeds, and mortgage documents are correct
20	You should do a “Final Walk Through” of the property you are purchasing within 24 hours before closing to confirm the property is in the same condition that it was in when you agreed to purchase the property and that all inspection required repairs have been completed.
After Closing
21	Check property insurance (check policy documents, billing and auto-pay
22	Confirm addition to Umbrella policy insurance
23	Check on Title Registration, Taxes, Insurance and Home Warranty - 30 days after closing
24	If leasing, then set up a "Landlord" account which defaults to you to avoid hooking up utilities fees between tenants