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A Simple Plan for Starting a Business of Real Estate Investing
It is possible to become successful in real estate investing in
a short time and, even when starting a business of real estate
investing, you can find the time without crimping your current
lifestyle!
Starting a business of real estate investing with a simple plan.
1. Groundwork of your simple plan is crucial when starting a
business of real estate investing.
I know, it is easy to say - and the truth is, it is easy to do!
Most people get stopped when starting a business of real estate
investing because they simply FAIL to plan. That's right, it
isn't because their plan didn't work, it was because they did
not implement even a very simple plan!
To be successful in real estate investing, first find someone
else that is successful in real estate investing, watch them,
interview them, find out everything you can about what they did
when starting a business - and write up a simple plan of what
they have done to be successful in their real estate investing -
something that you can follow each day.
In order to have what they have, you need to do what they do, so
find out what percentage of their day is spent on the telephone,
for instance.
Find out how much of that time is spent on making calls,
receiving calls and the type of calls they are (Customer
Service, making deals, etc.)
That gives you a good idea of what your total time should look
like, when you are starting a business of real estate investing
of your own.
2. The next step in developing your simple plan as you are
starting a business of real estate investing is to divide your
total time (10 hours per week is a great start) just like your
successful mentor does.
Even if they put in a hundred hours per week, they still divide
their time, just like you will, once you begin working your
simple plan.
The 'secret to success' isn't in the hours - it is how you spend
them!
Follow the simple plan outlined here to make the most of your
hours and get the most out of everything as you are starting a
business of real estate investing with a plan of success.
If your mentor spends 1/10th of their time making outgoing phone
calls to find new business, then you need to spend 1/10th of the
time you dedicate to your real estate investing business doing
the same thing, a pretty simple plan, huh?
3. Set your Goals.
A clear destination is something you always do when starting out
on vacation, isn't it?
Then have the same thing in mind when you are starting a
business of real estate investing.
Every successful person says to have a goal in mind so you know
where you are going, and our simple plan gives you the steps to
get there!
A goal is crucial in anything, and certainly when starting a
business of real estate investing.
Without a destination (a specific income amount, a personal item
like a car or boat, or simply an amount set aside in savings),
how will you know if you ever arrived?
4. Track your progress.
You have your goal in mind, and a simple plan to begin. It is
time to get into your 10 hours per week program and 'backtrack'
to create a clear and simple plan to follow.
Take your goal (a clear date of completion and 'destination'),
divide it out and chart the required progress each day, week,
month and/or year to quickly know what is required to reach your
destination.
Follow your progress each day to know quickly if you are
sticking to your original goal destination, or if you are ahead
or behind schedule.
As you are starting a business of real estate investing, you
will likely come across some detours, that's OK (and where many
people get lost... Do not!)
When driving, if you find a road that is blocked or a path that
seems impassible, you simply find another way around, right?
The same is true when starting a business of real estate
investing, just find another way.
Include in your simple plan a few hours here/there just for such
'emergencies'.
If you have no emergencies, do something else that will get you
closer to your destination, or just relax and enjoy where you
are.
5. Spend time ON your business, not only IN your business.
In your simple plan for starting a business of real estate
investing, you must set aside part of your working time to plan,
set goals, promote and advertise your business, not simply work
along in your business, doing the things you do.
In today's world, when starting a business of real estate
investing, you will most likely have a website. You need to
spend a certain portion of your time (even 10 hours per week
total) on getting more visitors to that website. The more people
that see what you have to offer, the quicker your business will
grow.
You could spend time driving from house to house, telling
everyone about your website (not a very simple plan for your
time!), or you can maximize your time by writing articles about
your business and post them online where many people will see
them (many online services promote articles).
This is often overlooked by people as they are starting a
business of real estate investing, and one of the reasons they
fail to make their simple plan.
As your business grows over time, you will do less of this (but
never stop!) and begin to work your simple plan toward the 'IN
your business' phase.
6. Give excellent Customer Service.
It never pays to make your customers angry. An upset customer
will kill more business than you can imagine. Find a way to work
with them, or simply give them their money back.
Losing customers is something you cannot afford when you are
starting a business of real estate investing!
Many people simply don't make the time to provide quality
service to their customers. Do not let that happen to you!
A little up front planning and goal setting, then follow-through
each week, then simply repeat the process.
You will change your business from flat to cash in a short
amount of time!
Follow the steps above and it can be done in as much or as
little time as you have.
When starting a business of real estate investing, if you follow
the simple plan I have outlined here, you are already a success!
Steve Majors - The Lazy Investor Profit from Real Estate
Investment articles, real estate investing information and news
from one of the most creative investors on the planet ~FREE
MEMBERSHIP & real estate training course~ http://SteveMajors.com
About the author:
Before his wild success in Real Estate investing, Steve Majors
fixed stereos, was a radio DJ and owned several successful
businesses. Completing 40 deals his first year in real estate
investing, he now teaches others the secrets of Real Estate
investing with his very own LAZY methods (minimum effort =
maximum results). Profit from articles, news and information
from one of the most creative investors on the planet!
http://SteveMajors.com