Want to get started and don’t know how to? Having a plan for success make it real easy to complete. Accordingly, not having a plan will guarantee failure.
Design your investment career from the onset to completion and then just follow the steps. When starting a new business you must treat like a business and plan every step along the way.
Here is what we will cover….
Business Plan Overview:
Who owns the company?
What is your corporate objective?
What has your company done in the past?
In addition to the members of your company, who else makes up your team?
Real Estate Market Analysis:
What types of property will you acquire?
What price range of property will you require?
What type of buyer/renter are you targeting?
How will you acquire properties?
Will the properties require major rehab or just cosmetic repairs?
How will you determine your offering price?
What is the average repair budget?
Business Plan Implementation:
What is your game plan for a rehab?
To what level of quality do you rehab a house?
Who will sell your properties and why?
What has been your average holding period for a property?
Do you have creative sales methods?
What if the properties don’t sell at all?
Are you prepared to keep and rent the property?
Real Estate Sales Projections:
What are your figures for gross revenues, net income and cash flow?
How many properties do you plan on buying, selling or keeping
How can you control your expenses
Business Plan Financial Plan:
What are your current sources of funds?
What assumptions are you making when projecting future funding needs?
What will serve as collateral for these sources of funds?
Your Management Summary:
Who will be on the management team?
What will each person be expected to do?
Your Important Assumptions:
What assumptions are you making regarding your target market?
The status of interest rates?
The strength of the resale or rental market?
Business Plan Summary:
What is your ultimate objective?
Do you feel this is realistic and attainable?
Do you feel you have the team members in place to achieve this objective?