Creating a Business Plan

[Travis Hargreaves]

Quick question. After much reading and listening to podcasts real-estate will soon be apart of my life. As with the E-Myth I would like to devise a business plan with policy and procedure in which to not only show my lender and CPA team members, but also allow friend and family to understand the seriousness of this venture. Does anyone know a good reference business plan or format in which to use that showcases what I'm trying to accomplish? I have minimal background in business and focused most of my efforts into medical. The niche I will be focusing on is BRRRR strategy.

[Basit Siddiqi]

@Travis Hargreaves

What are you trying to accomplish with the business plan?

If all you are trying to do is show them how serious you are, just take action and they will see how serious you are.

If you are looking at friends and family or lenders for capital - you can create a one page detailing the following

1. Your goals for the next 3-5 years and how you will get there
2. What is BRRRR strategy
3. Policy and procedurs for your rentals once they are up and running
4. If you plan to take capital, what you will do with the capital

Personally, I think a business plan is much unless you plan to raise capital or take on employees or get business partners.