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The ROOST Make Real Estate Work Scorecard

Your Information

When completing the scorecard, all fields must be filled in correctly. Once you've completed the scorecard, an email with your completed scorecard will be sent to you.

In order to begin, the following issues need to be addressed:

Mindset 1: Focus On What You Do Best

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
Property management is simply overwhelming and buying investment property was a big mistake.
1
2
3
4
5
6
You feel you are treading water but believe there has to be a better way. Your real estate is taking time away from what you do best
4
5
6
7
8
9
You carve out enough time to take care of your properties. You may not be as profitable as you could be but your expenses are under control.
7
8
9
10
11
12
You are open to the advice of professionals and understand that each of us is best served if we are free to do what we do best.
10
11
12
 

Mindset 2: Profitability Is Job #1

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
Making your mortgage payments is an accomplishment. Staying out of foreclosure and avoiding bankruptcy are your big wins.
1
2
3
4
5
6
You have no idea of you are profitable or not. You have yet to glimpse the financial stability investing in real estate promised.
4
5
6
7
8
9
Your portfolio is breaking even and there is even some money left over at the end of the year. As long as nobody moves out all is good.
7
8
9
10
11
12
You know that buying right, accurate forecasting, and maintaining the property to the neighborhood standard is the path to profit.
10
11
12
 

Mindset 3: Professional Management

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
In your experience property managers are only out for themselves. They get paid first and that is their only concern.
1
2
3
4
5
6
You really don't know what your actual costs are but it appears the only one making money is your property manager.
4
5
6
7
8
9
You are suspicious of property managers. You have your properties under control. If something needs done you do it.
7
8
9
10
11
12
Your property manager is a partner in your profitability. Professional Management is an investment not a cost.
10
11
12
 

Mindset 4: Rehab and Maintenance

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
You do as little as you can. There is no use upgrading properties because the tenants will just tear them up.
1
2
3
4
5
6
You fear you are being overcharged by your contractor. You are not sure what you are paying for and why.
4
5
6
7
8
9
The only way to avoid getting ripped off is to do the work yourself. Tenants may have to wait a little longer for repairs but that's life.
7
8
9
10
11
12
You have a collaborative relationship with your property manager who helps you collect and evaluate multiple proposals for every project.
10
11
12
 

Mindset 5: Screening and Selection

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
If an applicant has the money to move in you take it. Your cash flow will not allow you to evict non-performing tenants.
1
2
3
4
5
6
Your tenants almost never finish out their lease and you are always looking for new ones. You have no time to interview applicants.
4
5
6
7
8
9
Your properties are vacant longer than you would like because you have learned the hard way that you have to wait for the right tenant.
7
8
9
10
11
12
You have systems in place to 'screen in' those applicants most likely to pay their rent while abiding by fair housing laws.
10
11
12
 

Mindset 6: Marketing and Advertising

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
Your marketing strategy is a sign in the yard and an ad on Craigslist. The incoming calls are overwhelming.
1
2
3
4
5
6
You want to attract better applicants but you don't know where to begin. You need a system that reduces time on the market.
4
5
6
7
8
9
You are unsure of the market rate rent in your neighborhood but as long as you have cash coming in every month you are in good shape.
7
8
9
10
11
12
You benchmark your marketing and advertising against the most successful investors you know. Your systems are fool proof.
10
11
12
 

Mindset 7: Accounting

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
Your rent is often paid in cash and your income and expense records are incomplete.
1
2
3
4
5
6
You have the information you need to file your tax returns but have no idea what your ROI is or how you are doing financially.
4
5
6
7
8
9
You are confident that your books and records are in order and you are receiving all the deductions due you at tax time.
7
8
9
10
11
12
You receive a monthly P and L by property. You measure the success of each property against your plan and past performance.
10
11
12
 

Mindset 8: Expanding Your Portfolio

Select a number on each side, one for where you feel you score currently, and where you want to be.

Currently, I am I want to be
1
2
3
You would sell your properties today if you could pay off the mortgages. The last person you want to hear from is another agent.
1
2
3
4
5
6
You are upset that you let great deals pass you by. You realize that being overly cautious has cost you a lot of money.
4
5
6
7
8
9
You are an Accidental Landlord and/ or happy with the current size of your portfolio. Investing beyond what you have is too risky.
7
8
9
10
11
12
Your ultimate goal is a portfolio of mortgage-free properties that produce a steady stream of income. You want to hear about great deals.
10
11
12