March 5, 2015 in Investing In Real Estate
There are so many things we don’t know when we are just starting out. One of those things is the best systems to implement in our businesses; especially systems that will ultimately save us time.
Today I want to talk about one of my favorite time saving systems and that is how to properly set up your contacts in your phone and database for easy access down the road.
You probably haven’t given this a whole lot of thought especially if you are brand new to the business. No matter what system you are using (or plan to use), setting this system up correctly is really important. You need to be able to quickly locate information about your properties when you need it and that may be years from now.
Is This Really Such a Big Deal?
Now when you are just starting out, most people only have a few properties so it won’t seem like such a big deal. But the reality is that if you stay in this business long enough, it will eventually be a BIG problem. This is especially true if you buy a lot property over time. It doesn’t really matter if you are a wholesaler, a flipper or a buy and hold landlord. Setting up good systems in the beginning will save you time and money later on.
Think about this for a minute; what if you need information on a dozen properties you bought 6 or 7 years ago? (Think tax audit). If you lay the proper foundation for your systems today, this will never be a concern in your business. You will have all your properties categorized for easy access.
Not only is setting things up properly important for your database or CRM, but it is equally important for your contacts in your smart phone if you are a buy and hold landlord.
One System for Both Your CRM and Your Phone
You can use this same system for both your CRM or Database and your phone.
Over the course of time tenants will come and go. The one thing that is constant is the property address. So why not set up your properties so that all you have to do in the future is change the tenant’s name? Unless you have a property manager, you will most likely be the one taking calls from tenants. You really don’t want to have to remember that Debbie Tenant lives at 1122 Jackson Road.
Let’s say you have a property on Jackson road. If you list that property as 1122 Jackson Road then you will have to look it up “numerically” (and hope you actually remember the house number). It would be so much easier to just have to remember that you have a property on Jackson Road. So you want to list your property in your phone (and your database) as Jackson Road, 1122 so it will show up alphabetically. Then list the tenant’s name.
In this case your contact information would look like this:
Jackson Road 1122, Debbie Tenant
See how much easier this would be to manage? You would know right away which property they were calling about and when the tenant moves out you simply replace the name. If you enter the street name first, they will always be in alphabetical order.
What Happens if You Don’t Do It that Way?
They come up numerically. This may not seem like a terrible problem until you get a bunch of properties. Let’s say you are looking for a house at 11202 Main Street and you have entered your properties numerically.
Your contact/property list might look like this:
- 12 Zurich Drive
- 133 Arbor Road
- 224 N. 44th Street
- 1107 Nelson Ave.
- 4400 Board Street
- 5206 S. 26th Street
- 11202 Main Street
Now just imagine that over the years you have bought 100 properties. You would have to search for the Main Street Property. If they were listed my way the list would look like this:
- 44th St., 224 N
- 26th St., 5206 S
- Arbor Road, 133
- Board Street, 4400
- Main Street, 11202
- Nelson Ave., 1107
- Zurich Drive, 12
See how much easier that is to locate a particular address? The numerical streets come first then the rest are alphabetical. It’s really a simple system but such a time saver.
Are You Still Looking For a Good Contact Manager System?
If you are still looking for a good system to manage your contacts, take a couple of minutes and check out the post I wrote recently about SI Lead Manager. It's a great system. Just Click Here to read about it. **There is a 30 day FREE TRIAL TOO.
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