1. Clarify your non-negotiables first
A serious screening process starts before you open a portal. Define your non-negotiables: target ticket size, leverage range, preferred layouts, acceptable GRM corridor and minimum station quality. Anything outside those boundaries is not a "bargain", it is simply out of scope.
This sounds obvious, but many investors skip this step and end up with a chaotic list of screenshots and half-remembered links. A good pipeline is built on explicit criteria.
2. Filter by station and line, not by ward
The next step is to constrain deal flow to a curated set of stations and lines that match your strategy. This is where your station shortlist becomes operational. If a listing is outside your pre-approved stations, it is ignored by default unless you have a very clear reason to expand the scope.
This protects your time and helps you build depth of understanding in specific micro-markets instead of shallow familiarity everywhere.
3. Use GRM as a fast first filter
For the listings that pass the station and layout filters, compute a quick GRM based on realistic rent. The goal is not to make a final decision, but to classify each listing: clearly outside the corridor, borderline or worth a deeper look.
Listings that are far outside your corridor without a clear thesis go straight to the "discard" pile. Discipline at this stage is what keeps your pipeline clean.
4. Run a structured first-pass memo
For the short list that survives, write a simple first-pass memo: station and line, layout, age, walk-time, GRM versus corridor, quick notes on building quality and potential red flags. This does not need to be long, but it should be explicit.
Treat this memo as a decision checkpoint: either the listing upgrades to "active candidate", or it is archived with clear reasons.
5. Move from screening to pre-due diligence
Only after a listing passes the initial memo should you invest more time: talking to the broker, clarifying rent history, checking management company quality, studying building documentation and stress-testing your assumptions.
This helps you reserve your energy for the small proportion of deals that are genuinely aligned with your strategy instead of reacting to every new email.
6. Build a weekly rhythm around your pipeline
The most effective investors run this playbook on a rhythm: daily or weekly screening of new deals, memo updates, and deliberate "kill or advance" decisions. Over time, this rhythm compounds into a robust understanding of how your target micro-markets behave in different conditions.
7. Connecting this playbook to your tools
The pillar guide "How to Analyze a Deal in Japan" goes further into the details of underwriting, scenario analysis and documentation. Combined with tools such as Deal Finder and cash-on-cash models, it allows you to turn this screening playbook into a full, professional acquisition process.