Have I lost my mind or does this make sense to anyone else?

Have I lost my mind or does this make sense to anyone else?

Duncan, OK · Member since 2014 · 53 posts · 10 votes

I have been procrastinating on writing my business plan. I have a "good" excuse. I wanted to make up my mind once and for all what kind of entity I wanted to go with before I committed any thing to writing.  After all the vacillating I have been doing on the entity question, I decided to bite the bullet and just get on it. Maybe  having it written would  help me decide which entity to go with. 

 In one of the pod cast I think it was someone mentioned about posting a business plan to the forum for OP to help tweaking it. That help me cut through the crapola and get started because I really did not want to take it to any one I know locally for an opinion. With the exception of my  banker I don't think  rich dad is a major player locally of any one I know well enough for that kind of trust.  While my banker is a really nice guy and all that, he just don't get it, as far as I'm not playing any more. In the back of my mind I have been asking my self, do I REALLY have what it takes to pull this off?  Then about half way through the part about how am I going to pay for it, it hit me! I have already done this!

Granted it was with a SFR. My house I bought in 96 that I am waiting to sell as a matter of fact. Granted I made a LOT of HUGE mistakes on it. I have learned from each and every one and I have the paid in full receipts to prove it. Granted we did every thing back wards and it shows. Granted I let OP's nonsense mess me up in a lot of things involved and that is easy to see as well. But when I look at what I did right and what I learned from it all, I KNOW THAT I KNOW, how to do this. It is as backwards as it can be by any logical expectations. There is nothing rational to it, by any measure of traditional thinking. By all the specs i keep reading online I have to be absolutely stark raving mad to even consider it. Even with just the parts that I know, there are a boat load of things that can go wrong. Yet, as I sit here rereading the parts of this business plan i have a rough draft written already typed in, I know one thing. This is eminently doable. It needs exactly one thing to tie it all together and I have that one thing.

How? I realized something about me that I never actually thought about before now. I have some rather unique and most unusual tangible and intangible "niche" assets that  the largest portion of the world  would laugh at me If I told them. Whats funny is I know how to expand on that one small fact. I have found that one grain of rice that tips the scales. Have I completely lost my mind? Maybe.  That's OK. They said the St Louis Arch could not be built.  I know for a fact it is still standing.  My aunt would  have made a point to let me know if it collapsed. All I have to do is build one! 

Does this make sense to any one but me?

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Real Estate Investor · New York City, NY · Member since 2014 · 121 posts · 47 votes
11y

@BA R. 

From my experience, you could shout out the invention of the wheel (before it was invented) and most people would just ignore it or tell you it wouldn't work.  You don't have to share your idea here, but I would recommend you share it with people and get others involved to make it a reality.  

Execution is the secret sauce.  Ideas are pretty much worthless without execution.  The more you share it, the more others will help you realize your dreams and support you.

See this reply in the discussion

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  • Real Estate Agent · Grand Rapids, MI · Member since 2014 · 62 posts · 18 votes
    11y

    That you've found your unfair advantage? I reread this twice. I can't tell what you mean. I thought you were going to write out your plan, but I didn't see a plan. Then I thought you were going to cover what your niche is. I couldn't find that either.

    Is the point that you found it? Because that makes sense. If that's right, I would love to hear what that advantage is. I'm just starting out and have no idea what I have/if I have one. If I missed the point, can you boil this down to like one or two sentences?

  • Real Estate Agent · Fort Worth, TX · Member since 2014 · 187 posts · 113 votes
    11y

    I'm not trying to offend you but I have no idea what you're talking about.  You asked if you were crazy for considering something, then you didn't make clear what that something was....

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y

    Yep, you got it. I had not thought about calling it an unfair advantage but that would be a really good description. No, I'm not giving this one away.  There are way to many investors out there with big money, that I cannot hope to compete with, that would scoop this in a heart beat, even though they do not understand the demographics. Sorry.

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Tim Bishop:

    I'm not trying to offend you but I have no idea what you're talking about.  You asked if you were crazy for considering something, then you didn't make clear what that something was....

     Sorry, I'll call it a EUREKA! moment. 

  • Contractor · Temple, TX · Member since 2014 · 379 posts · 164 votes
    11y

    @BA R. Nothing that you said makes any since at all.

  • Investor · San Diego, CA · Member since 2014 · 180 posts · 72 votes
    11y

    You may have answered your own question. 

  • Real Estate Investor · Ridgway, CO · Member since 2014 · 76 posts · 10 votes
    11y

    What ever the mind conceives and believe it achieves.  - Napoleon Hill.  Start with what you conceive, write it down into a single sentence.  Say it both morning and night live by it during the day.  Then you will achieve your goal.

    Don't worry whether it makes sense or not. If you write it down in a single sentence then there won't be any question.

  • Real Estate Investor · New York City, NY · Member since 2014 · 121 posts · 47 votes
    11y

    @BA R. 

    From my experience, you could shout out the invention of the wheel (before it was invented) and most people would just ignore it or tell you it wouldn't work.  You don't have to share your idea here, but I would recommend you share it with people and get others involved to make it a reality.  

    Execution is the secret sauce.  Ideas are pretty much worthless without execution.  The more you share it, the more others will help you realize your dreams and support you.

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Ron Drake:

    You may have answered your own question. 

     I think you are right. Thanks

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Robert Warren:

    What ever the mind conceives and believe it achieves.  - Napoleon Hill.  Start with what you conceive, write it down into a single sentence.  Say it both morning and night live by it during the day.  Then you will achieve your goal.

    Don't worry whether it makes sense or not. If you write it down in a single sentence then there won't be any question.

     Thanks. I really need to finish reading his book!

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Louis Leone:

    @BA R. 

    From my experience, you could shout out the invention of the wheel (before it was invented) and most people would just ignore it or tell you it wouldn't work.  You don't have to share your idea here, but I would recommend you share it with people and get others involved to make it a reality.  

    Execution is the secret sauce.  Ideas are pretty much worthless without execution.  The more you share it, the more others will help you realize your dreams and support you.

    You are dead right about most peoples  negativity.  Thanks for the support and heads up. I've got an idea of where and how to mobilize this. I just have to get there. For now, at least, that means I have got to finish this business plan!  Aspirin any one? LOL

  • Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y

    Back a few years ago at the bottom of the market,  when we figured out how to buy, design and sell houses in under 30days on market, at or above similar comps, when average dom was at over six month. 

    Although we shared what we were doing with many people, execution from anyone else was rare. 

    A person who can execute on a decent idea, will be infinitly more successful then the person with a brilliant idea without the ability to implement, execute, deliver. 

    If you have a bright idea, make sure you execute well, or team up with someone who can, I wish you the best.

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Dell Schlabach:

    Back a few years ago at the bottom of the market,  when we figured out how to buy, design and sell houses in under 30days on market, at or above similar comps, when average dom was at over six month. 

    Although we shared what we were doing with many people, execution from anyone else was rare. 

    A person who can execute on a decent idea, will be infinitly more successful then the person with a brilliant idea without the ability to implement, execute, deliver. 

    If you have a bright idea, make sure you execute well, or team up with someone who can, I wish you the best.

    Thanks!

  • Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    11y

    Granted, after seeing the length of your post, I passed on reading it until I read the comments from some of the other posters. I love a good rambling rant so I did in fact read it all.

    Granted, I will also agree with another poster that you probably answered your own question at the end there because, granted, I also have no idea what you are talking about.

  • Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y

    @ba reed ...curious why your bright idea is giving you a headache?  Or is it writing the business plan that is giving you the headache?

    Do you really neeed an official comprehensive business plan, or would you be just as well served by writing your concept, goal on a big white board for clarity and then writing out the steps needed to implement it?  

    I have seen plenty of people spend an extraordinary amount of time writing up a plan and never execute, I have also seen people execute on large scales with no written business plan. 

    Implementing a brilliant idea should fill you with energy and excitement, not a headache? 

    Whats causing the headache?  Whats your major obstacle, or problem to implementing your bright idea?

  • Duncan, OK · Member since 2014 · 53 posts · 10 votes
    11y
    Originally posted by @Aaron Mazzrillo:

    Granted, after seeing the length of your post, I passed on reading it until I read the comments from some of the other posters. I love a good rambling rant so I did in fact read it all.

    Granted, I will also agree with another poster that you probably answered your own question at the end there because, granted, I also have no idea what you are talking about.

     OK folks, it is quite possible I owe apologizes all around for the rant.  It was more of a case of me amazing myself on the "final ingredient" It has been staring me in the face, for the past couple of years  and I just realized it. Call it the secret sauce of a boring old burger if you want. I won't be offended since that is exactly what it is. Every thing in side me says not only will this work, it should make a  respectably, steady, long term profit. 

    I have some marketing research to do. IF that shows what I think it will, I'm going for it!  As far as the business plan goes... YEAH! That is going to HAVE to be done. That is not only for those i share this with but for me as an outline of the systems plan. That will be short sweet and to the point. I misspoke. The headache is  a detailed systems I have to put together. Thanks to all for your input!

    Sorry for not going into details but this is going to be kept under wraps until I get it started.  Obviously once I get the ball rolling the cat will be out of the bag but that cannot be helped.

  • Real Estate Agent · Fort Worth, TX · Member since 2014 · 187 posts · 113 votes
    11y

    @BA R. 

     You don't owe anyone an apology.  Rambling isn't against bp policy.  Ramble on!

  • Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    11y
    Originally posted by @BA R.:
    Originally posted by @Aaron Mazzrillo:

    Granted, after seeing the length of your post, I passed on reading it until I read the comments from some of the other posters. I love a good rambling rant so I did in fact read it all.

    Granted, I will also agree with another poster that you probably answered your own question at the end there because, granted, I also have no idea what you are talking about.

     OK folks, it is quite possible I owe apologizes all around for the rant.  It was more of a case of me amazing myself on the "final ingredient" It has been staring me in the face, for the past couple of years  and I just realized it. Call it the secret sauce of a boring old burger if you want. I won't be offended since that is exactly what it is. Every thing in side me says not only will this work, it should make a  respectably, steady, long term profit. 

    I have some marketing research to do. IF that shows what I think it will, I'm going for it!  As far as the business plan goes... YEAH! That is going to HAVE to be done. That is not only for those i share this with but for me as an outline of the systems plan. That will be short sweet and to the point. I misspoke. The headache is  a detailed systems I have to put together. Thanks to all for your input!

    Sorry for not going into details but this is going to be kept under wraps until I get it started.  Obviously once I get the ball rolling the cat will be out of the bag but that cannot be helped.

     While rambling is perfectly acceptable, posting pointless rants what have zero value is a waste of every person's time who reads them. If you're just going to less-than-vaguely talk about systems, business plans, or whatever it is you are talking to yourself about, maybe you are better off starting your own personal blog, or buying a journal. People come here for help, to help others, and to learn. None of which can be done or had from this post, but apparently, you just selfishly helped yourself while confusing everyone else.

  • Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
    11y

    I have absolutely no idea what I just read.  Was it created by a random word generator?

  • Real Estate Investor · Davenport, IA · Member since 2013 · 71 posts · 17 votes
    11y

    @BA R. 

    No apology necessary, but remember the people of BP are here to learn and help!  So, if possible, try to bring a question or solution to the forum table each time.  But I do understand the rant at times.  Heck, half the time I'm lost and can't seem to find myself....so if you see me will you please put me back where I came from : )

    LOVE YOUR ENERGY THOUGH!

  • Dev HornPro Member
    Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
    11y

    Man, I agree with @Aaron Mazzrillo and others in this thread that I have read it and it is perhaps the most useless thread I've ever read in BP.  And I don't mean to offend, I'm just speaking to the value of this conversation to the BP community.   It's of absolutely no value - there are no ideas, no concepts, no strategies, etc. the info shared here.

  • Real Estate Investor · Ridgway, CO · Member since 2014 · 76 posts · 10 votes
    11y

    @BA Reed You should finish your business plan, but dont let that stop you from marketing for leads right now. Get started, don't delay, do something each and every day to reach your goal.  It seems to me that your business plan is a form of procrastination.

    Write down your business plan in one sentence.  Then start.

  • Real Estate Investor · Ridgway, CO · Member since 2014 · 76 posts · 10 votes
    11y

    @Dav Horn Isn't the point to help out @BA Read?

  • Dev HornPro Member
    Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
    11y

    You're right.  My help is this: forget this business plan stuff and the "secret strategies" and just go DO IT.  There was no real QUESTION in this so how do we "help"?

    If you want to be a RE investor, get up and get out and do it.  You generate leads, you talk to sellers, you negotiate deals, you get contracts signed, and whatever you do after that, you MAKE MONEY.

    I suppose in my OLD AGE I'm becoming like Kevin O'Leary on Shark Tank... it's about the MONEY.  If you guys are doing something that does not directly lead to making money, you are not really playing the game.

    Anyway, I'm sorry if I was discouraging or disrespectful.  I've posted over 1,000 comments that I hope people find helpful.  But sometimes I see an OP like this and I think the person doesn't really want help and in fact, in this case, I'm still not even sure what we're talking about!  =)

    "Vision without action is a daydream. Action with without vision is a nightmare." ~ Japanese proverb

  • Real Estate Investor · Rancho Cucamonga, CA · Member since 2014 · 258 posts · 90 votes
    11y

    Keep on pounding friend.

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