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A Simple Plan for Starting a Business of Real Estate InvestingTip! Myth: My business plan needs to be perfect before I can start my business. Starting a business of real estate investing - whether you work out
of an office or a 'home based business' you run out of a corner of
your bedroom, you can drastically change your life, and your
income in as little as 10 hours per week - all through a very simple
plan of real estate investing. It is possible to become successful in real estate investing in a
short time and, even when starting a business of real estate
investing, you can find the time without crimping your current
lifestyle! Starting a business of real estate investing with a simple plan. 1. Groundwork of your simple plan is crucial when starting a
business of real estate investing.
I know, it is easy to say - and the truth is, it is easy to do! Most
people get stopped when starting a business of real estate
investing because they simply FAIL to plan. That's right, it isn't
because their plan didn't work, it was because they did not
implement even a very simple plan! To be successful in real estate investing, first find someone else
that is successful in real estate investing, watch them, interview
them, find out everything you can about what they did when
starting a business - and write up a simple plan of what they have
done to be successful in their real estate investing - something
that you can follow each day. Tip! A Business Plan will help you get funding. One of the main reasons Banks turn down requests for loans is a lack of information to assist in making an informed decision. In order to have what they have, you need to do what they do, so
find out what percentage of their day is spent on the telephone,
for instance. Find out how much of that time is spent on making calls, receiving
calls and the type of calls they are (Customer Service, making
deals, etc.) That gives you a good idea of what your total time should look like,
when you are starting a business of real estate investing of your
own. 2. The next step in developing your simple plan as you are starting
a business of real estate investing is to divide your total time (10
hours per week is a great start) just like your successful mentor
does. Tip! Myth: My business plan is in my head—that's good enough. Even if they put in a hundred hours per week, they still divide their
time, just like you will, once you begin working your simple plan. The 'secret to success' isn't in the hours - it is how you spend
them! Follow the simple plan outlined here to make the most of your
hours and get the most out of everything as you are starting a
business of real estate investing with a plan of success. If your mentor spends 1/10th of their time making outgoing phone
calls to find new business, then you need to spend 1/10th of the
time you dedicate to your real estate investing business doing the
same thing, a pretty simple plan, huh? Tip! Appendices - Any resumes, references, copies of studies done or anything else to back up information in the business plan should be included here. 3. Set your Goals. A clear destination is something you always do when starting out
on vacation, isn't it? Then have the same thing in mind when you are starting a
business of real estate investing. Every successful person says to have a goal in mind so you know
where you are going, and our simple plan gives you the steps to
get there! Tip! Myth: Friends and family are the best sources of feedback and advice on my business plan. A goal is crucial in anything, and certainly when starting a business
of real estate investing. Without a destination (a specific income amount, a personal item
like a car or boat, or simply an amount set aside in savings), how
will you know if you ever arrived? Tip! Myth: I don't need a loan—so I don't need a business plan. 4. Track your progress. You have your goal in mind, and a simple plan to begin. It is time to
get into your 10 hours per week program and 'backtrack' to create
a clear and simple plan to follow. Take your goal (a clear date of completion and 'destination'), divide
it out and chart the required progress each day, week, month
and/or year to quickly know what is required to reach your
destination. Follow your progress each day to know quickly if you are sticking to
your original goal destination, or if you are ahead or behind
schedule. Business Plan Made Easy. How To Write A Business Plan. Made Easy, Is Broken Down So That Anyone Can Do It, Easy And Fast. As you are starting a business of real estate investing, you will
likely come across some detours, that's OK (and where many
people get lost... Do not!) When driving, if you find a road that is blocked or a path that
seems impassible, you simply find another way around, right? The same is true when starting a business of real estate investing,
just find another way. Include in your simple plan a few hours here/there just for such
'emergencies'. If you have no emergencies, do something else that will get you
closer to your destination, or just relax and enjoy where you are. 5. Spend time ON your business, not only IN your business. In your simple plan for starting a business of real estate investing,
you must set aside part of your working time to plan, set goals,
promote and advertise your business, not simply work along in
your business, doing the things you do. In today's world, when starting a business of real estate investing,
you will most likely have a website. You need to spend a certain
portion of your time (even 10 hours per week total) on getting
more visitors to that website. The more people that see what you
have to offer, the quicker your business will grow. Tip! By the time you have finished writing your Business Plan you will have a total understanding of your business; its strengths and weaknesses, the environment it operates in, what could potentially go wrong, and what you can do to ensure your success. You could spend time driving from house to house, telling everyone
about your website (not a very simple plan for your time!), or you
can maximize your time by writing articles about your business and
post them online where many people will see them (many online
services promote articles). This is often overlooked by people as they are starting a business
of real estate investing, and one of the reasons they fail to make
their simple plan. As your business grows over time, you will do less of this (but
never stop!) and begin to work your simple plan toward the 'IN
your business' phase. 6. Give excellent Customer Service. It never pays to make your customers angry. An upset customer
will kill more business than you can imagine. Find a way to work
with them, or simply give them their money back. Losing customers is something you cannot afford when you are
starting a business of real estate investing! Tip! Executive Summary. The Executive Summary provides a succinct synopsis of the business plan, and highlights the key points raised within. Many people simply don't make the time to provide quality service
to their customers. Do not let that happen to you! A little up front planning and goal setting, then follow-through each
week, then simply repeat the process. You will change your business from flat to cash in a short amount
of time! Follow the steps above and it can be done in as much or as little
time as you have. When starting a business of real estate investing, if you follow the
simple plan I have outlined here, you are already a success! Steve Majors - The Lazy Investor
Profit from Real Estate Investment articles, real estate investing information and news from one of the most creative investors on the planet ~FREE MEMBERSHIP & real estate training course~ http://SteveMajors.com
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