Need guidance getting my RE goals into a plan..

3 Replies

Hi,

I am a newbie just getting the ball rolling in RE investing. My path right now, due to low funds and credit issues, is to wholesale properties.

 My BIG ISSUE right now is formulating a business plan. I feel like without a written plan I am just flailing .From your experiences, what is the BEST way to go about it? What I really want right now is not a comprehensive biz plan, just a short 1-2 page synopsis of my goals and actionable strategies. I think I'm just inundated with ways to go about it..Can anyone give me a blueprint of an easy way to get this on paper (or word doc) ? ty!

Anyone have ideas for me? thank you

Hey Jake-
You may have more options the only wholesale. You could buy property with seller financing- where the seller acts as the bank, and no lending institution is involved. In such a case, downpayment and terms (years, interest, monthly payment) are all negotiable. I’ve used this strategy multiple times to buy property with no money out of pocket.

Regarding your business plan- I highly recommend listening to The BP Podcast 108- Grant Cardone’s discussion on goals made a big difference for me.

This being said- a few suggestions I have: write your goals down every single day. And remind yourself to keep an eye out for opportunities when you do. You’ll see a lot more. Next thing- in any area of life, there are a half dozen things that make all the difference. Identify those for your business.
Example blueprint:

1. Goal: double my income from my job by wholesaling and investing in all my available hours.
2. Why? : this is your motivations for what gets you going- what would make you keep trying even when you’re struggling?
3. List of 1/2 Dozen daily/weekly things to be doing to be successful
3.A. Use 5 second rule to take immediate action when I think of something I should do (for more info- YouTube Mel Robbins 5 second rule)
3.B. Send out marketing for offmarket deals (Craigslist, bandit signs, direct mail, business cards in public places)
3.C. Physically go to properties to evaluate - for both your off-market or ones through the MLS.
3.D. Analyze the #’s and make offers
3.E. Property under contract= market the crap out of it (Facebook, Craigslist, BP, local REI Groups,etc)
3.F. Close on contract with buyer/seller and get paid.
Repeat. Especially 3A-3E. On your list, write how many times per week you should be doing each of 3B-3E. Then triple this amount, and set it as your goal. Track it, and hold yourself accountable for doing the level of activity you set out to do. You can’t control who accepts your offers, but you can control how many you make. Focus on what you can control, and shove all of your attention into doing the things under your control.

This was a lengthy post- I hope it helps. Good luck

Originally posted by @Christopher Stanis :

Hey Jake-
You may have more options the only wholesale. You could buy property with seller financing- where the seller acts as the bank, and no lending institution is involved. In such a case, downpayment and terms (years, interest, monthly payment) are all negotiable. I’ve used this strategy multiple times to buy property with no money out of pocket.

Regarding your business plan- I highly recommend listening to The BP Podcast 108- Grant Cardone’s discussion on goals made a big difference for me.

This being said- a few suggestions I have: write your goals down every single day. And remind yourself to keep an eye out for opportunities when you do. You’ll see a lot more. Next thing- in any area of life, there are a half dozen things that make all the difference. Identify those for your business.
Example blueprint:

1. Goal: double my income from my job by wholesaling and investing in all my available hours.
2. Why? : this is your motivations for what gets you going- what would make you keep trying even when you’re struggling?
3. List of 1/2 Dozen daily/weekly things to be doing to be successful
3.A. Use 5 second rule to take immediate action when I think of something I should do (for more info- YouTube Mel Robbins 5 second rule)
3.B. Send out marketing for offmarket deals (Craigslist, bandit signs, direct mail, business cards in public places)
3.C. Physically go to properties to evaluate - for both your off-market or ones through the MLS.
3.D. Analyze the #’s and make offers
3.E. Property under contract= market the crap out of it (Facebook, Craigslist, BP, local REI Groups,etc)
3.F. Close on contract with buyer/seller and get paid.
Repeat. Especially 3A-3E. On your list, write how many times per week you should be doing each of 3B-3E. Then triple this amount, and set it as your goal. Track it, and hold yourself accountable for doing the level of activity you set out to do. You can’t control who accepts your offers, but you can control how many you make. Focus on what you can control, and shove all of your attention into doing the things under your control.

This was a lengthy post- I hope it helps. Good luck

Hi, Seller financing is an interesting idea. I will check out the BP podcast with Grant Cardone, ty. I love your ideas about setting goals , tracking them, and keeping on top of them as well! Thanks so much for your detailed response!!

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