If you’ve used the Buy Manager or Repair Manager, you’re already used to the way the Sell Manager operates. The difference is that the field names have changed because you’re organizing different information. Save info on agents, prices and pertinent comments regarding the sale, as well as any accompanying listing documents.

The Marketing tab unlocks a versatile display of various marketing fields. Keep track of MLS or Craigslist information, and even enter notes about your traditional street marketing methods. When you receive inquiries, maintain a list of information regarding those contacts within this section. Collapse or expand the view as desired.

When you lock up a buyer for your property, access the Closing tab and keep track of all documents in one spot. Upload your Estimated and Final HUD documents, as well as copies of the deed and Title Report. Record your closing dates and times and remain organized throughout the process, whether juggling one property or twelve.

In next week’s post, we’ll tackle the Hold Manager, for those properties you don’t plan to sell in the short term.

Once you obtain a property, more likely than not, prior to selling it again, you will choose to make some strategic repairs. Since every repair will add to the amount of money you have invested, it is important to remain organized and track each expense.

When adding Manager Data, you may start out by giving your repairs an overall status—anything from “Repairs Not Assessed” to “Repairs Complete.” If you have a difficulty, you can flag it with a “Repairs Issue.” For actual data, you may list your contractors and projected start and end dates. Also, don’t forget to include your costs.

Now that we’ve covered the basic “When?” and “Who?” data areas, let’s check out the “What?” portion. Keeping a list of repairs for quick reference makes it easy to track progress and maintain a handle on the overall repair project. Note the type of repair, the cost, the contractor, and any details or descriptions specific to the repair. Upload multiple photos with ease. All views are expandable and collapsible, so you only need to view the info you want to see at any given time.

What about inspections? Inspections have their own tab within the Repair Manager. Aside from comments pertaining to possible inspections (and even permits) list all inspection details. Even upload the paper report documents.

Just because your inspector or contractor hasn’t gone paperless doesn’t mean you have to haul around paper documents yourself!

When you first add a property to your account, you will fill in all the usual information (i.e. sale price, address, square footage, bedrooms, baths, etc.). That information comes up automatically within the Buy Manager screen. In addition, if you have entered a property, feature or neighborhood description, that data is there, also.

Want to add photos of the property? There is a Photos option tab where you can easily upload photos straight from your machine or camera. What makes it even more efficient is the fact that you can upload five at a time, too.

As you evaluate a prospective property, click the Evaluate tab to store your pricing information. If you have tax assessment or other documents, upload them for easy access later.

If financing will be involved, use the Finance tab to add all related information. Sources, amounts, costs and terms all have fields mapped out and ready for them.

When it comes time to close on a property, the unique features of the Close tab come in handy. Upload all related documents, including the purchase contract, estimated HUD, final HUD, deed and title report.

For those involved in short sales, there is a dedicated tab for you, as well. Upload Authorization to Release documents, hardship letters, and more. The sections even expand or collapse depending on what view you prefer. Open as many or as few sections as you like.

With Buy Manager, the entire process is smooth and organized. Take each property from “New Property-Not Reviewed” status all the way through “Closing Completed.” Uvestor is there to support your process all the way.

You can customize the top-level Manager Data for each Module and the detailed data for each Function. You also may choose not to use any of the default fields. The customization is up to you. Within the Data section, you will find a Buy Manager, Repair Manager, Sell Manager and Hold Manager. Properties are separated and organized for quick and easy viewing.

The Manager Setup Area is where you determine what type of statuses you want to be able to display within your account. As usual, the default options are extensive and cover most basic statuses; however, each real estate business has its own wrinkles, and adding new fields is a snap.

If Buy, Repair, Sell and Hold don’t cover all your Task needs, that is an easy fix, too. Have as many or as few as make sense for your business. Perhaps you want to have one Task list for Repair and another for Rehab.

Finally, the Manager Setup Area shows the various Expense categories. With any real estate investment, this is vital information and needs to be tracked in detail, in order to insure maximum return on investment.

After saving that, click the Sales Content tab and gain access to a fully operational word processing window. Control everything from your font to format with just a click of the mouse. If you need to make changes later, don’t worry. You can always go back, make edits, and save them to your account.

Color
Your Uvestor account is customizable right down to the color scheme you employ. In the example above, we’re displaying a navy/silver scheme, but there are many different combinations to try. Get creative. Introduce some of your own business’s colors to gain some inspiration.

For our next post, we’ll discuss the Manager Setup area, one of the most powerful areas within the Uvestor account. This is where you’ll define what you want to do with your account and what type of data you want to track.

Underneath the Dashboard is your Umail account. Assuming you have signed up for a pay account with Uvestor, you have a dedicated real estate email service fully integrated within your Uvestor account.

Features:
Email or forward documents and information to your UvestorMail address to centralize and streamline communications.
Send Umails to anyone from your Contract Manager to your Productivity Team in just a few clicks.
Get personal help from our Transition Team to get all your relevant business data and documents into the Uvestor Productivity Suite.

For our next post, we’ll discuss more about how to set up and manage your account. Once information is gathered and roles are defined, you’ll find that your business communication flow will improve both internally and externally.

The next page allows you to enter your company’s general contact information and specify the types of services you offer. Uvestor stores this information with your account for your convenience later.

After uploading your company logo, you’re free to add accounts for company employees. Whether they’re already Uvestor members or not, the process is easy and takes only enough time to enter names and email addresses.

I wonder what the ________ company is going to need for this _________ deal?

No matter what phase of real estate investing you are in, you probably haven’t done every type of deal. If you are like most people, you are just getting started and trying not to make too many expensive mistakes!

The problem with getting started is that you are experiencing everything for the first time.

Every contract seems complicated, every piece of information seems relevant, every step of the process feels like a blind walk on a pier…

If you ask a seasoned investor, they will tell you that they only worry about a few key numbers or circumstances to make a decision. This skill has been learned and honed over the course of a number of transactions.

So what does the new guy rely on?

A real estate business organization system that keeps you on track and educates you along the way.

Every level of investor needs an efficient business management tool, but a new real estate investor can really benefit from the structured display of information.

If nothing else, a new investor should be able to figure out what information they need by the fields used during each stage of the transaction.

Similarly, the layout of default documents and tasks can guide the new investor through the learning process of doing early deals.

Every real estate transaction consists of a sequence of tasks and gathering of information. Walking through that sequence for the first few times is going to feel a bit scary for anyone.

Of course, a real estate transaction also consists of a number of people, all working together to get to a closing. In the beginning, most investors don’t have a strong real estate team.

This can be a major disadvantage for a new investor.

Teams get things done. If you need financing, you better have a relationship with a local lender (traditional or private). If you are planning to close a short sale, you need to know which closing attorneys are familiar with short sale closing requirements.

These days it is easier than ever to put together a quality team even on your very first deal. Lenders, contractors and all types of professional service providers are starting to use Uvestor to work together more efficiently.

These invest0r-friendly service providers are one click away from being a part of your property team, so they can help walk you through any transaction.

Now you won’t have to worry about doing it all on your own. Your team is there to help!

With some education, knowledge of the local market and a tool like Uvestor, a new investor should be able to create and grow a profitable real estate business from day one.

So instead of worrying about all the details of a deal you haven’t done, just get started and fill in the blanks along the way…

Equity Build-Up

Every month you make a house payment you reduce the loan balance and build equity on the property (the difference in the amount you owe on the property and the value of the property).  The best real estate investments are those that allow you to build up equity quickly.  How is this done? Two ways:

1. Low Interest Rate Loans

If your property has a low interest rate loan (say 8%) then more of your monthly payment will go toward reducing the balance of the loan instead of interest.

2. Buy at a Discount

If you buy property at wholesale prices, then the property has equity built in because it is worth more than the amount you paid.

Appreciation

Real estate appreciates in value over time.  However, if you buy real estate at wholesale prices you create instant appreciation in your real estate and don’t have to rely on inflation.  Instead, you control the value of your real estate directly and put profits directly into your pocket.  Physical improvements also create appreciation.

Leverage

You are able to own real estate with only a few dollars invested.  In this course, you’ll learn how to use just the right amount of leverage so you can own real estate and create positive cash flow.