As I sit in front of my PC in my office at home right now, I am just about to have my weekly meeting with one of my agents that takes care of a portion of my portfolio.

I have already been sent a list with 100% occupancy. What an amazing feeling it is to know that the quality of the properties provided warrants people being proud to live there! 

Creating a system so your portfolio runs with the flexibility for you to have as much or as little input as possible. And the great thing is everybody else who is a part of the team gets paid handsomely along the way as well. So everybody in the business grows.

Here are some tips to make sure that you are keeping your eye on the ball:

1. Make sure you have a profit and loss per company and per property. You can watch a video on profit and loss here ⇒ https://youtu.be/wiHdHoP-NMw

2. Make sure you have a list of all the tenants and how much they are paying for each of your properties or each of your units.

3. Hire a bookkeeper. Have your bookkeeper cross reference the statements from the agent with the bank feed in your account system so that you now know that the people in your property  are actually paying.

4. Create a flag list of anything that is either missing or is out of consistency with what your profit and loss should be showing. Have a meeting with your bookkeeper to go over this flag list to make sure each item gets resolved so you stay on top of things.

By doing this, your year end accounts will be very easy and straightforward for you to be able to pass all of the information over to an accountant so that they can file. 

This also gives you an overview of what is going on so you can make intelligent decisions.

These are some of the tiny things that people do not talk about or pay attention to what they tell me to make or break when it comes to you making money. All of the recent changes we have seen in the marketplace have tightened the screw on a lot of people and if you are not on top of these aspects before, you definitely need to be on top of it now and it might be a surprise to what you are saying.

The best thing to do was to start many months or years ago. The next best thing is to start now. 

Do you want to focus on what you do want in life versus what you don't want?
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