Owned Pipeline & Drips & KPIs 📊 🔄

Standard Operating Procedure for Closing and Funding Properties

Objective

This SOP outlines the steps for closing and funding properties based on different exit strategies, ensuring clarity and efficiency in the process.

Key Steps

1. Understand the Closing Strategy 0:31

• If not seeking a buyer yet, finish the A.B. process.
• No need to market the property or have a fully executed contract at this stage.

2. Proceed to Close and Fund 0:48

• Move to close and fund the property based on the finalized strategy.
• Check for the signed contract before proceeding.

3. Update the ECQ Pipeline 1:03

• Move the property to the 'closed' status in the ECQ pipeline.
• Depending on the exit strategy (fix-and-flip, buy-and-hold), create a new entry in the known dead rentals.

4. Update Custom Fields 1:25

• Update any relevant custom fields with timing information.
• Ensure that the property status is accurately reflected (vacant, rented, etc.).

5. Gather Marketing Assets 1:45

• If the property is going to be marketed, gather necessary marketing assets.

6. Manage the Dispel Pipeline 2:03

• Work through the Dispel Pipeline until the property is listed or a fully executed contract is obtained.

7. Finalize the BC Pipeline 2:20

• Ensure that the property is correctly categorized in the BC pipeline for long-term investments.

8. Trigger Closing Metrics 2:40

• Closing and funding should trigger the appropriate metrics in the BC pipeline.

9. Confirm Completion of A.B. Side 2:59

• Ensure that the A.B. side of the ECU pipeline is completed before moving to the BC side.

Cautionary Notes

• Always verify that all contracts are signed before proceeding to close and fund.
• Ensure that all updates to the pipeline are accurate to avoid confusion later on.

Tips for Efficiency

• Regularly review the pipeline to ensure all properties are correctly categorized.
• Maintain clear communication with team members regarding the status of properties to streamline the process.

Link to Loom

https://loom.com/share/c7073dea7bf043078bf7587a4e406f6a

‍