Real Estate Investment Business Plan Basics
Your Real Estate Investment Business Requires Some Business Plan Basics
Building a real estate investment business plan is equally as important as building a business plan for any other type of business. Too often, new real estate investors treat their business as a hobby rather than a business. The idea, though, is to make money and make lots of it.
Don’t screw around; get serious and treat your real estate investment business as the serious endeavor it is.
Otherwise… why bother?
After all, your time, your effort, and the money you spent on real estate investment education and tools is a valuable investment in itself; why not make sure it pays off?
Write out an executive summary of your real estate investment strategy.
There are many types of real estate investment and you should define which type you plan to focus your real estate investment business on. Will you invest in commercial real estate properties? What about reverse wholesaling or flipping? Maybe you like the idea of cash flow and rental properties are more your thing. When you define your goals you can set your mission and vision; this will help guide your path to success.
Set up a marketing plan.
Many real estate investment business owners, heck, many business owners in general, fail to remember that marketing is a key element to success. After all, you can have the most amazing product or service on the planet and if no one knows you exist, you’re toast. Marketing is the “lifeblood” of any successful business. As the saying goes “show me a business that isn’t marketing, and I’ll show you a business that is dying”.
Set up your basic business tools.
Toll free numbers, websites, logo, branding, email and print materials are all absolute necessities for a solid and successful real estate investment business. No time or skill for all that? There are turn key systems like 1-800-sell-now that will get you well on your way with all that in place an the training to go with it.
Brand your self as well as your business.
You are the face and personality behind your real estate investment business and so it is just as important that you brand yourself, as it is that you brand your business. Utilize social media and web 2.0 to create an online presence that will allow potential clients and colleagues to get to know you and purchase your name domain and set up your online curriculum vitae with a good head shot of yourself. Remember, YouTube is a great facilitator for the virtual handshake, as well as a key SEO strategy for your digital marketing efforts.