It’s important to be organized when you acquire new investment real estate because there’s a list of documents that are required for each and every deal. When you have a few weeks to obtain financing approval, the last thing you want to be doing is stressing because you’ll need time for inspection, closing, auditing leases, etc. Here’s a list of documents you should have ready:

1. Purchase offer (including all counter offers), dated, signed and accepted
2. Proof of down payment
3. Updated and signed net worth statements of all co-owners / primary shareholders if purchased through a company
4. Tax reports & appendices on income and expenses of each rental property
5. If purchased through a company, financial statements of the company for the last 3 fiscal years
6. Detailed income list for all rental properties you own
7. Current copies of all current leases (along with documentation supporting rental increases that have happened over the years for longer-term tenants)
8. Detailed mortgage financial statements for all properties
9. Detailed financial statements of all investments held (stock, real estate, etc.)

If you purchase real estate a few times a year take the time to organize and update these every few months. These documents are the lifeline to growing your portfolio.

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Brent Mondoux
Founding Partner, Amplified Investments
brent@amplifiedinvestments.com
Investing in real estate