What is the best way to organize your rental property documents? Especially as you grow your portfolio, it’s important to have your files both organized and accessible. On this Q&A episode, we’re diving into organization tips for your real estate documents.
This episode also contains listener questions on choosing an insurance company for your rental properties, and how to find a HELOC for an investment. I appreciate your questions, and I hope you find my answers helpful. Please join me for episode 863 of Investing in Real Estate!
On this episode you’ll learn:
- How to organize your real estate documents.
- What to look for in an insurance company.
- Where to look for a HELOC for investing.
How to Organize Your Real Estate Documents
As you grow your real estate portfolio, it’s important that you have a system in place to organize your documents. I’d start with a cloud-based system like Dropbox or Google Docs, and then create folders organized by year > LLC > property address. I’d also suggest making sure you’re backing up everything physically either quarterly or yearly. Here is a blog post on organizing your documents, as well as a spreadsheet you can use to get the ball rolling.
What to Look for in an Insurance Company
When you’re shopping around for insurance on your rental properties, get a few customized quotes to see what your options are. The best policy is going to depend on your state, your asset types, and whether or not you’re bundling with other products. Personally, I like NREIG because of their online portal.
Where to Look for a HELOC for Investing
My favorite places for finding a HELOC are Dan Kraus at Churchill Mortgage and Flagstar Bank. I know it’s discouraging to hear ten “no’s,” but keep going until you find what you’re looking for. There are definitely lenders out there that are willing to work with investors.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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