Business planning

2 Replies

Hey I'm trying to create a business plan for myself but I'm having a hard time ... I want to start probate wholesaling in New York and would love some advice

OK. What are you trying to accomplish? Who do you want to reach? How do you intend to make contact? Will you door knock? Advertise? Send direct mail?

Do you know what a business plan looks like?

A strategy?

A marketing calendar?

Everyone gets to start somewhere. Begin exactly where you are.

Start by saying, 'I don't have a vision for what I want or a roadmap to get there. Where and how can I learn to put a plan together?' 

Since its your plan, you ought to be the one to build it. After all, you'll be the one responsible for doing the work, right?

So, start with something simple. Create a list of actions. Then add columns for the months you will be implementing these actions.

If it's training you need, that should be part of your plan and budget. Before you go spending lots of money on some mentor program, learn the basics of real estate and a foundation in understanding why people buy and own real estate and how money is made. Books and podcasts can take you a long way to your education.

Don't invest in anything that costs much until you've found that your skills are lacking when trying to work with prospects. 

"Plan your work and work your plan, but don't plan the results!"

@Desmond Haylett  

Rick gave you some good advice.

Welcome. When you figure out which direction to go your local SCORE chapter can help. Visit their website they have an excellent template. Remember this is a marathon not a sprint. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

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