Day 3
I wrote up a business plan today, well two actually since my plan is two fold. I want to expand my knowledge of real estate investing quickly and profitably. The first half of my plan focuses on finding and wholesaling investment properties to rehabbers and contractors alike.
Wholesaling Plan
First: Build a buyers list, Second: Start up a lead generator for suitable properties, Third: Automate the system.
Thinking ahead i also wrote a more detailed plan for the buy and hold phase of my business.
Buy and Hold
First: Cultivate buyers list, Second: Use Birddogs/Marketing to find Suitable properties, Third: Use creative financing to aquire properties, Fourth: Market property to tenants and fill vacancies, Fifth: Automate the system.
I am also thinking about building a team to help me find and put deals together, but first I definitely want to start with a few wholesales
Comments (1)
I'm glad to hear that you're working on the plan, Jeffrey! Have you broken down each of your points in more detail yet? eg. in your fourth point, you mention marketing property to tenants -- have you spelled out what that entails? Each point in your plan should be broken down into as much detail as possible, so you can always come back and refer to it. It feels like the plan is more of an outline than anything else (unless you've got it all filled out) . . . details are what will make this work for you. Keep making it happen!
Joshua Dorkin, over 15 years ago