Do you have a business plan ?

[Manuel Segarra III]

Greetings Earthlings !

Just starting out in real estate investing, I am ON FIRE for this !
Want to start right, I'm very analytical ... Getting my team together, organizing my finances, starting up a business, talking to CPA, etc...
I went to SBA.gov to get some ideas about starting a business ... ran across the " Writing a Business Plan " section ...

Was curious about how you view having a business plan ?  
It looked more focused on people having a business that sells a physical product ... I know a home IS a physical product but not
in the sense of selling widgets, shoes, iPhones, etc ...

What are you thoughts about taking the time to create a business plan ... I have my goals and vision for investing but this would be different ...

Respectfully,

Manny3
Noob Investor

[Joe Villeneuve]

You must have a plan, but a REI plan isn't like a business plan you found the template for. The REI plan starts with your financial goals, then you break them down into parts of those goals (i.e...cash flow for car payments, profit from flip for paying off a credit card, etc...), then you establish the criteria from these "parts" ( I refer to them as "milestones"), then you match the "milestones" criterias to the Markets where the profiles of the properties in that/those market(s) match the criteria from the milestones (at that time in your plan's timeline). All of this must also be connected by applying specific strategies to the markets you found, that will bring you the profits/cash flow from those markets that match the criteria in your plan.

...<taking a pause for a breath here>...

Nothing to it.