Rental Property Investor · Puerto Rico · Member since 2019 · 9 posts · 0 votes
I need to create a simple, short comprehensive real estate business plan. Any recommendations for a person with experience will be greatly appreciated.
Rental Property Investor · Sykesville, MD · Member since 2018 · 18 posts · 20 votes
7y
Hi Jonathan,
What's the purpose of your business plan? Are you seeking private financing or a business partner? As a new investor or for any new business owner, you'll need to define your goals, develop your strategy, and project out your finances yourself. You should be able to get help from a non-profit center that focuses on supporting start-up entrepreneurs in your community. Do you have an accountant that can help? Writing a business plan even if it's just in outline format is a valuable exercise for the business owner to get clarity and analyze numbers for profitability and cash flow. If someone needs an expert to write it for them, they're really not ready yet to risk capital and start a business. Get more comfortable with all aspects of your market and your RE strategy. Then you can think through and write your own plan on a napkin in an hour and be successful in business. Those are just my thoughts based on my experience. Best of luck!!
Rental Property Investor · Sykesville, MD · Member since 2018 · 18 posts · 20 votes
7y
Hi Jonathan,
What's the purpose of your business plan? Are you seeking private financing or a business partner? As a new investor or for any new business owner, you'll need to define your goals, develop your strategy, and project out your finances yourself. You should be able to get help from a non-profit center that focuses on supporting start-up entrepreneurs in your community. Do you have an accountant that can help? Writing a business plan even if it's just in outline format is a valuable exercise for the business owner to get clarity and analyze numbers for profitability and cash flow. If someone needs an expert to write it for them, they're really not ready yet to risk capital and start a business. Get more comfortable with all aspects of your market and your RE strategy. Then you can think through and write your own plan on a napkin in an hour and be successful in business. Those are just my thoughts based on my experience. Best of luck!!
Rental Property Investor · Park City, UT · Member since 2019 · 84 posts · 149 votes
7y
I'd strongly recommend writing your own business plan. It's a critical exercise in understanding your assumptions and taking them to their logical conclusions. I can't count how many business ideas I've had that seemed like home runs in my mind, but once I fleshed them out in writing I realized they had fatal flaws - real estate is no different.
Rental Property Investor · Puerto Rico · Member since 2019 · 9 posts · 0 votes
7y
@Andrea O., Thank you. I do have my strategy and the purpose of the plan. I want to buy and hold multifamily properties of 24+ units generating at least 10% Cap Rate and NOI's above 75k, therefore I'm aiming for properties valued around 750k+. My company will be focused on high performance properties. The reason I need an expert is because I have 02 investors backing me, and they want a professional business plan that is simple to read through, short and focused on the finances and projections.
Their request specifically said: “Get a professional business plan, short, simple to read, focused on finances and projections.”