5 New Years Resolutions for My Business

5 New Years Resolutions for My Business

2 min read
Ken Corsini

Ken Corsini is a seasoned real estate investor and business owner based in Woodstock, Georgia. Ken is best known for his role on HGTV’s hit show “Flip or Flop Atlanta,” and has flipped over 800 houses in Metro Atlanta since 2005.

With over 15 years of experience in the real estate industry, Ken has expanded his original flipping business into multiple independent real estate businesses, including Red Barn Real Estate, with over 180 agents in Metro Atlanta across four offices; Red Barn Construction, a custom home-building company specializing in modern farmhouses across North Atlanta; Red Barn Renovations, a full-service renovation company; Black Oak Mortgage, a direct lending company based in Woodstock, Georgia; and InvestorSumo, a technology company focusing on CRM and data needs for real estate investors.

Having been involved in thousands of transactions and having owned over 800 houses, multiple commercial and multifamily properties, and more, Ken brings a wealth of knowledge and experience to the BiggerPockets community. He has authored over 100 blogs and currently hosts the “Best Deal Ever Show” on the BiggerPockets YouTube channel. He is also the host of the popular Deal Farm Podcast.

Ken is currently writing a book in conjunction with BiggerPockets called “Profit Like the Pros,” scheduled for release in Fall 2020.

He and his wife also run Roc.Star Kids, a non-profit organization focused on the needs of children and families in the fight against childhood cancer. For more information on this very personal cause, check out their story here.

In addition to HGTV and HGTV Magazine, Ken has been featured on The Today Show, People Magazine, The LA Times, Think Realty Magazine (cover), TV Insider, In Touch Weekly, Life and Style Magazine, The Wrap, The Atlanta Journal Constitution, UGA Today, US Chamber of Commerce, PopSugar, Entertainment Magazine, and a number of local periodicals.

Ken has a Business Degree from the University of Georgia and a Masters Degree in Building Construction from Georgia Tech.

Ken is currently licensed as a general contractor (commercial) in the state of Georgia.

Instagram @kencorsini
Twitter @kencorsini

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As I reflect on 2013 and look forward to another year as a real estate investor, there are many things I’m proud to have accomplished, but many more areas that need improvement. As an entrepreneur, it’s hard not to constantly wrestle with the need to improve. As my business continues to grow and adapt to a changing market, I’ve identified 5 areas of improvement that I’d like to focus on in 2014:

1. Utilize More Strategies for Finding Properties

With a continual decrease in the supply of available distressed properties, it’s become imperative for us to find new methods of finding investment properties. For a number of years, we’ve been able to acquire the majority of our properties via MLS, HUD and relationships with agents. It’s become increasingly clear that to maintain the volume and quality of investment properties that we want to buy, we need to be more creative with our acquisitions. From telemarketing to direct mail, one of my main goals in 2014 is to be extremely creative and aggressive in finding new sources of inventory.

2. Better Analytics

We are in the process of transitioning from a traditional bookkeeper to a controller for our business. Once a business reaches a certain level, bookkeeping becomes more than just figuring out tax liability. For us, we realize the need to truly analyze profitability in relation to the types of properties we buy. Not only this, but with the investment we are making in new acquisition models, it’s important to have a good handle on our corresponding return on investment (ROI). For us, 2014 is also going to be about better financial control and analysis.

3. Lower Money Costs

A penny saved is a penny earned. Every year that I’ve been in business, I’ve taken steps to reduce the cost of money …. and 2014 will be no exception. We bought and sold approx 125 homes in 2013. By lowering my borrowing costs by just a few percentage points, I can increase profitability by tens of thousands of dollars. By developing new borrowing relationships and negotiating new terms with existing lenders, 2014 can become more profitable simply by focusing some of my time and energy on this area.

4. Manage My Time More Effectively

I read a great quote recently: “In the absence of clearly defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it.” – Robert A. Heinlein.
I know for myself this is absolutely true. It’s very easy to sit down at the computer in the morning and answer emails and phone calls all day without ever spending necessary time actually managing the direction of the business. One of my top priorities in 2014 is to be intentional about carving out time every day to tune out the daily distractions and instead focus on developing my team and the strategies we need to implement to grow and be successful in the coming years.

5. More Consistent Marketing

I recently had a conversation with a buddy of mine who is a very successful real estate investor and info marketer. With an email list of over 200,000 active subscribers, I asked him how he was able to be so successful as a marketer. His answer to me was “consistency.” A good marketer continues to engage his audience on a regular basis.
One of our shortfalls over the years has been the lack of consistent marketing to our investors. One of my resolutions in 2014 is going to be regular engagement and dynamic marketing in an effort to solidify our investor base.

What about you? What kinds of resolutions have you made for 2014 to improve your investing business?
Photo Credit: Eustaquio Santimano