EP314 Why You Must Have a Personal Financial Statement and Schedule of Real Estate Owned with Paul Winterowd

There are two very important tools that a successful real estate investor must have to grow their portfolio, borrow money from lenders, and keep track of their financial situation.

I’m talking about your personal financial statement and schedule of real estate owned. Both offer a three-dimensional picture of your assets and liabilities, as well as the real estate and investments you own and the cashflow you can expect from them.

I was looking to improve the format of my PFS and SREO recently and came across one that I absolutely love. It was created by my guest today, Paul Winterowd.

Paul is an expert debt provider with Bonneville Multifamily Capital who has real world experience investing in multifamily assets. He’s achieved MBA and CCIM status and helps clients’ returns by sourcing the best debt-financing for their long and short-term investing objectives.

Today Paul is going to explain the purpose of a PFS and SREO and the important details lenders are looking for when they review yours, such as your liquidity, net worth, and debt-service coverage ratio. We’ll also discuss red flags or mistakes investors make when presenting their financial picture.

The best part of this conversation...Paul is making the PFS & SREO spreadsheet he created available to our listeners at no cost. You can go to https://bmfcap.com/pfs/ to download this fantastic spreadsheet. You can also contact Paul directly through email:  [email protected]

Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/.

And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.