Entering deal details for a property record

Keeping accurate deal details for your properties is essential for managing your real estate investments efficiently. In Invelo, you can enter and customize deal information for each property record, including acquisition, construction, and disposition details. This ensures your team has a clear view of each property's status and key data, helping you make informed decisions and track progress seamlessly.

Accessing the Deal Details Form

To begin, open the property record you want to update in Invelo. Locate the Deal Details section to access the form. You’ll see three main sections: Acquisition, Construction, and Disposition. Each section contains fields that can be filled out or selected from dropdown menus. You can also customize your deal details form to include additional fields that fit your workflow.

What's in the Deal Details Form

1. Acquisition Details

The Acquisition section helps you track information related to purchasing the property.

Fields include:

• Purchasing Entity: Enter the name of the entity buying the property.

• Inspection Status: Select the current status from the dropdown:

  • Need to schedule

  • Scheduled

  • Completed - Waiting for report

  • Reviewing report

  • Unsatisfactory - Negotiating

  • Approved

• Scheduled Inspection Date: Choose the scheduled date for the inspection.

• Type of Financing: Select the type of financing used to acquire the property:

  • Cash

  • Conventional

  • Hard money lender

  • Private money lender

  • Not applicable

• Financing Status: Track the progress of your financing by selecting:

  • Lender docs need to be drafted

  • Lender docs signed

  • Lender funded

• Lockbox Code: Enter the lockbox code for the property, if applicable.

• Acquisition Notes: Add any notes relevant to the acquisition process.

2. Construction Details

If you’re renovating or constructing on the property, the Construction section lets you track key milestones.

Fields include:

• Start Date: Choose the date construction or renovation begins.

• Completion Date: Enter the expected or actual completion date.

• Construction Notes: Include any notes about work progress, challenges, or updates.

4. Disposition Details

The Disposition section tracks the sale or exit of the property.

Fields include:

• Listing Date: Select the date the property is listed for sale.

• Buyer’s Financing Type: Choose the financing type the buyer is using:

  • Cash

  • Conventional

  • Hard money lender

  • Private money lender

• Disposition Notes: Add any relevant notes about offers, negotiations, or sale progress.

Tips for Using Deal Details

• Regularly update each section to ensure accurate tracking of your properties.

• Customize the form to match your business workflow and record any additional data points you need.

• Use notes fields to capture context, discussions, or reminders that aren’t covered by the predefined fields.

By keeping your deal details up to date, you can streamline property management, simplify reporting, and make better-informed investment decisions.