Updated over 8 years ago on . Most recent reply
Business plan and Goals
Recently, I have been focusing on developing a solid business plan and some smart goals. I am moving to Charlotte N.C. this summer for school, and I will also be investing (wholesaling if funding is not forthcoming, rehabbing if it is). My plan is based on some money that I inherited. I have enough set aside for 2 semesters worth of tuition, room and board, so my expenses beyond that will be minimal apart from books. This leaves me roughly $7,000, but to be on the safe side, I am keeping my budget down to $4,000. So, with $4,000, here is my plan:
Phase 1: June/July 2017 (Summer Semester)- Groundwork
- Continue market research with "boots on the ground" (I have been reading as much as I can about the Charlotte area market)
- Join local REIA, contact local investors to build a solid network, and find potential JV partners for flips
- Start Marketing around mid July
Phase 2: Mid July-December 2017 (Fall Semester)- Marketing, Wholesaling
- Start with Bandit signs
- Facebook ads
- Drive for dollars
Goals:
- Net $15k in wholesales by 2018
- Net $15k on at least 1 flip
- Hit the ground running
As you can tell, it's a fairly rudimentary plan that has room for improvement. That's why I'm bringing it to you guys! Please feel free to criticize and suggest changes. I think my goals are reasonable and fairly conservative, since I am very motivated and have a very strong work ethic, but if you think I should change them (either more or less ambitious) let me know. I know my last goal (in bold) is fairly vague, but it's really the underlying philosophy behind the whole plan. Furthermore, if you think there are marketing avenues that I should look into, please let me know. Thank you in advance; I look forward to hearing your thoughts.