Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 900 votes
My mentor made me identify the problem, vision, mission, and principles to bring more structure to my business.
Here is what I wrote.
PROBLEM:
With most owners expecting to sell their properties at market or above market it is difficult for busy professionals to find stable real estate investments that will bring at least a 7% CoC ROI without investing a lot of time and resources in lead generation
VISION:
To give busy professionals an opportunity to own solid income producing property opportunities without them being required to do the hard of studying real estate, building a team, nurturing industry connections, etc.
MISSION:
To inspire others that come from humble beginnings by providing investment opportunities that will help provide financial freedom and generational wealth to people
PRINCIPLES:
1. Be trustworthy and honest (investors trust your decisions with their hard earned money)
2. Integrity- Do what you say you're going to do
3. Make business decisions based on facts not speculations or emotions
4. Trust but confirm- Confirm with market professionals such as property managers, other local investors, and contractors that your projections/numbers are accurate
5. Do more with less (work on your business not in your business). Always improve on ways to improve your systems
6. Work with people who are as obsessed with their field as I am with mine
7. “The more you earn the more you owe”- continuously increase my philanthropic efforts year after year as our business grows
I will review this everyday and modify this as needed
I love this way of thinking that was passed on to you. I have to try this out.
The problem I seek to solve is to allow entrepreneurs who are suffering from high loan rates to save thousands with a new alternative financing solution.
My vision is to start a wave of profits in EVERY INDUSTRY for business owners trapped by conventional loan terms and origination fees.
My mission is to continue training and involving entrepreneurs with an opportunity to not only receive but give the same solution they obtained!
Lender · Chicago, IL · Member since 2016 · 653 posts · 313 votes
5y
Jason, likewise, I have planned for Q1 of 2021 & conducted an annual review. It's all about incremental improvements. Nothing will go to 0-100 in one step.
Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
5y
Great start! Be sure to work this into your business “pitch deck” as a package offering to your investor base. I especially like the principles - I’ve done the same for my business.
Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
5y
@Jason Malabute what type of progress did you make after you wrote down the mission statement? I’d imagine you had a clear direction of what to do and when.
Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 900 votes
5y
Originally posted by @Account Closed:
That's all very positive and optimistic, but you identified the problem as:
"With most owners expecting to sell their properties at market or above market it is difficult for busy professionals to find stable real estate investments that will bring at least a 7% CoC ROI without investing a lot of time and resources in lead generation"
Area quality isn't being mentioned.
Are you going to continue the renewed effort to find 7% CoC ROI deals in quality markets, without reaching to lesser ones in a hunt for yield?
7% is a historic return in the stock market. If you are investing in real estate you should get higher than 7% return