The Everyday Property Pack is a series of spreadsheet checklists that cover the process of researching, analysing, inspecting, purchasing and managing an investment property. Of course, we welcome you to checkout the Everyday Property Pack and take a look at what it has to offer you as an investor.
In this article, however, I wanted to draw your attention to the reasoning behind Everyday Property Pack as I think there is something there to learn that can be valuable for property investors, particularly those starting out or with limited knowledge and experience with investing in property. It’s the concept of process and the belief that having a good process to follow – whether it’s one you have developed yourself or it is modelled from someone with knowledge and experience – can really take your investing to another level and ensure that the property investing decisions you make are based on solid research and analysis and will bring about the best results for your own personal investing goals.
Check out this video, which talks about the importance of process:
If you are new to investing, consider thinking through your process and documenting or ‘checklisting it’, or better still, save yourself the time and potential error that comes with inexperience by borrowing the processes of someone else! Find someone that is doing or has done what it is you want to achieve and model your process upon theirs.
Coming from a background in Systems Analysis, developing a solid, repeatable, highly objective process really makes sense to me, for investors of every level. For the beginner investor, however, it’s imperative in minimising your risk and can go someway to compensating for the lack of experience and knowledge that it may take some time to acquire.