Your Real Estate Investment - Are You Treating it as a Business?
Seriously, are you treating your real estate investments as a business or are you simply buying property with hopes of making big money? My new students are often thanking me for slowing them down. Real estate investing is exciting and many are so eager to run out and make it big that they have tunnel vision. Tunnel vision is seeing the gold at the end of the rainbow without mapping the course to get to the gold. True and seasoned investors know the importance of being purposeful. To truly succeed in real estate you need to:
- Be purposeful with total clarity as to how you will actually make monthly cash flows
- Know how you will and when you will liquidate some day and what your anticipated returns will be
- Know how you will protect your liabilities
- Know how you will protect your assets
- Know when you will acquire more property
For very good reasons, many people are turning to real estate as a retirement strategy. Strategies require thought, planning and execution. How many of these questions can you honestly answer with a YES?
- You have a written plan with my REAL ESTATE INVESTING STRATEGIES
- You have researched and established a legal entity such as an LLC or trust that you will secure your investments within
- You have sought out a real estate power team (real estate professionals to help execute your plan)
- You have estimated what your investment returns will be and how long it will take to get to your goals
- You have entertained investment strategies
- You have established sources for down payments
- You have established sources for financing
- You have set up bank accounts to manage your income and expenses
This list can go on but it is intended to slow you down. My students repeatedly thank me for slowing them down and helping them see the big picture. When you see the big picture in real estate investing, the fears that hold you back from taking the first steps are gone. If you are fearless and took the first steps without the knowledge of what the next steps should be, slowing down to establish a strategy can be the difference between a huge financial windfall and the sudden disappointment of a financial shortfall.
If you have been running your investments like a business, congratulations! You are in the minority and you are sure to succeed. If you have overlooked many steps in the business strategies do yourself a favor. Set yourself up for success and start the planning now. Then you can enjoy real estate investing and profit from it.
We are here to help get you started right! If you would like to find out more about how to get started in real estate investing, take our online series, or give me a call today! 941-718-7761
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