I’ve already talked with him and verified everything in writing. He’ll borrow the money using his credit; we’ll buy the home together and rent it out as 50-50 partners. Plan D: I have included a contingency clause in the contract; therefore, if nothing works out, I’ll just back out. (more…)
Not Creating an Exit Strategy for Your Real Estate Business (2)
Posted by in Business | Exit Strategy | Management | Real Estate - (0 Comments)Not Creating an Exit Strategy for Your Real Estate Business
Posted by in Business | Exit Strategy | Management | Real Estate - (0 Comments)
It’s easier to get into real estate than to get out of it. A real estate investing business plan for most people goes like this: “I’m going to get some property, and something good is going to happen.” Thirty years later, they have 38 rental properties. (more…)
You’re running a business. Whatever business you’re in, you ought to continually spend some of your revenue on education. The best ways to educate yourself about real estate include joining your local real estate association, reading books on the subject, attending workshops, and meeting with other investors. (more…)
Letting Your Business Get Out of Your Control and Run You (2)
Posted by in Business | Control | Real Estate - (0 Comments)
People leave a voice mail; we call them back the next business day. In my experience, there simply haven’t been any emergencies. There’s also a tendency in real estate to do everything yourself. I suggest you confine your activities to acquiring property, finding deals and putting them together, because that’s where you make your money. (more…)
Letting Your Business Get Out of Your Control and Run You
Posted by in Business | Control | Real Estate - (0 Comments)
Bookkeeping, making phone calls, and dealing with tenants and potential buyers can keep you busy and stressed out. Remember, most investors get into real estate for one big reason—freedom. The rewards can be awesome, the wealth incredible, the vacations glorious. (more…)
Not Having a Written Plan for Your Investment Business
Posted by in Business | Investment | Planning | Real Estate - (0 Comments)
You’ve likely heard about the study of Harvard and Yale graduate students: Over the course of 30 years, 3 percent of the students in the study financially outperformed the other 97 percent because they had written plans and goals. (more…)