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Thursday, 7 January 2016

Real Estate Investing **To Do List**



Jeff Adams Real Estate

A well defined crystal clear vision, with objectives and milestones is the foremost basis of any business venture and in Real Estate Investing it is imperative.

Whether it is to grow your business or start-up one, you need to think things through and study all the options available e.g. Wholesaler, Land lord or Rehabber and what you want to focus on.

Once you have decided, you need to set yourself targets of monthly income you would like to generate now and say after one, two and five years of operations.

Break-up each month into number of deals per month to achieve your revenue target. You now need to estimate the leads you need to achieve the desired number of deals. A thumb rule is 20 leads potentially generate one deal.

Draw up a multidimensional Marketing Strategy

Direct mailing – at best averages 4 to 5% leads. Obviously, the attractive or effectiveness of your mailer is the first criteria. Timing, the second criteria is just not related to the Season or holidays but also, prevailing market sentiments. Quality the third criteria, refers to the quality of your mailing list.

Website - set-up a website to collect leads.

Personal Networking - with industry professionals and meeting people not directly connected with your business, by attending seminars or functions, is a definite requirement.

A healthy mix of all possible strategies applicable in your own environment will yield results. Fine tuning to optimize time, effort and positive outcome is an ongoing process. Diligence and consistency are a prerequisite.

A Business Plan

Your business plan is your mapping out of your vision in a professional manner, you need to comply with not only the standard format of presentation but also let your passion and positive qualities show. A Biz Plan would include the following, besides any other aspects:

-  An Executive Summary – normally prepared once all other aspects have been covered.

-  Company Overview

-  Business Model

-  Your USP

-  A Market Analysis

-  Your Business Practices

-  A Marketing Plan

-  Implementation Strategy

-  Financial Plan

-  Assumptions – etc, etc.

A business plan not only requires hard work to prepare, it will perforce make you study all aspects of the business before you take the plunge. It is a great Sales tool and provides an opportunity to your investors and clients to make a favorable impression of your organization.

Executive Summary

Obviously, the most important aspect of your business plan is the Executive Summary. A summary needs to be short precise and cover all the essential points of your business plan. A lender or prospective partner needs to feel the tinge of excitement to be attracted to join your venture.

Real Estate Investing involves many other aspects too:

-  Funding for acquisitions

-  Long Term Revenues – obtaining best market rents with minimal expenses

-  Short Term Revenues – by enhancing profitability of each acquisition

-  Real Estate Market - keeping a sharp eye on market conditions

-  Strategies – to deploy in depressed markets

-  Lease Purchase / Rent-to-own

-   Assignment Contracts

-  Short Sale

-  Investment clubs – which to select, if any

-  Equity or Mortgage – option to follow under changing market conditions

-  Real Estate Investment Trusts – to avoid if Land Lording is not your strong suit

-  Tax angles

-  Financing and real estate leverages

-  Mortgages – various types and their implications

-  Undervalued Real Estate – if you can handle the title issues and renovation at a profit

-  Title issues - etc, etc.

It is clear from above, that besides a good accountant a legal beaver is essential to manage these affairs.

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