What would be some obstacle in real estate?, what would be the way to success with Real Estate?
2007-01-24 04:56:49 · 9 answers · asked by JESS 2 in Business & Finance ➔ Renting & Real Estate
A Simple Plan for Starting a Business of Real Estate Investing
Follow this simple step-by-step process to change your life, increase your income and have a successful business in Real Estate Investing. This article provides a 'how-its-done' look to maximize your results.
Starting a business of real estate investing - whether you work out of an office or a 'home based business' you run out of a corner of your bedroom, you can drastically change your life, and your income in as little as 10 hours per week - all through a very simple plan 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!
Best wishes.
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http://www.johntreed.com/beginner.html
2007-01-24 05:06:55 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Real Estate is a broad field. You will get better answers explaining the specific area you refer to.
Commercial
Residential
Becoming an Agent
Becoming a Developer
Real Estate Mortgages
Real Estate Trusts
Rentals
Real Estate Management
Property Management
New Home Construction
Rehabbing
Build outs
Single Family
Multi-Unit
Office Space
Commercial Space
This list goes on and on....but the good news, is once you learn about one area you can really tackle many things on this list.
2007-01-24 05:05:27 · answer #2 · answered by dkaufman1 1 · 0⤊ 0⤋
I think it depends on what you want to do- be a real estate agent, or loan officer or broker- those you need a license. If you want to be a real estate investor, then you can do so by reading or attending seminar about how to be a real estate investor. You don't need a license for that. The seminar class might be costly, but sometime the initial seminar will do it for free like Robert G Allen. There's Rich Dad, James Smith, Noeuvous Rich, and many more. You can always learn it from reading books also. Goodwill is a great place to find cheap used book, but it depends on where you are located.
2016-05-24 04:34:12 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Real estate business operators value, purchase, sell (by auction or private treaty), manage or rent real estate properties. These properties may be residential, retail, office, industrial or rural.
Starting or buying a real estate business involves many essential steps. Legally, you must ensure that you apply for and receive the correct licences.
This guide explains how to start a real estate business in Queensland. It will help you understand the importance of market research before you enter the real estate industry. You can also use our tools, quizzes and services to assess your business idea.........Bendigo rental manager
2014-08-18 22:31:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
90% of all millionaires is due to real estate. But don't let that fool you, there's a lot of failures. That's why the majority of the population doesn't have a million in networth. Aside from the normal rank and file careers of brokers and agents, many real estate millionaires are investors. They bought and sold and invested in market segments like rehabs, tax liens, etc.
Whichever path you choose, try to understand your options first. Then decide how much work you're willing to do (or be able to afford). Personally I chose the path of tax liens because they are easy, I can do them onilne, and still get returns.
See source below.
2007-01-25 01:45:04 · answer #5 · answered by John Rosa 3 · 0⤊ 0⤋
Well Jess, real estate is a really fun and enjoyable career IF YOU CAN AFFORD IT. Simply stated, if you need the income right away, it's not your time to start into the business. You have too many expenses whether you earn anything or not, AND you do lots of stuff for free just to break into the business.
If you get with a larger company, chances are you will get work right away because they have so many clients, and they have great mentoring programs.
But up-front expenses include training classes, transportation (car or suv), electronic key expense, MLS expense, office expense, etc.
Good Luck
2007-01-24 05:09:18 · answer #6 · answered by snvffy 7 · 1⤊ 0⤋
What part of Real estate? Agent? This question is too vague.
2007-01-24 07:29:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I think any business is good to start, it just you need to have the knowledge, proper guidance and willing to work hard.
2014-01-28 08:55:17 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Luv u for this question I want tosatrt the same business!!
2007-01-24 05:00:44 · answer #9 · answered by Anonymous · 0⤊ 0⤋