Build Your Business
Many come to real estate investing as a means to leave behind the cube farms of the corporate world or the spirit numbing monotony of the assembly line. There is something fulfilling about finding deals and creating financing on one hand and taking an ugly house and making it a beautiful home on the other. There can be great satisfaction in these and all the other aspects of the real estate business.
Yes, I said the real estate business! It's not pushing papers from one side of the desk to the other or hawking the latest stock to unsuspecting clients - but it is a business. As such, it needs to be treated like a business. Keeping track of sellers and buyers. Keeping records of properties. Managing tenants... and contractors. Knowing where the money is coming from and where it is going and how to keep it are essential parts of the business.
This purpose of page is not to give instruction on the finer points of these things - this writer is certainly not the model for everyone to follow. I have struggles with some of these things myself... BUT there are some companies and services that make these things much easier. Whether you are doing these things yourself or have progressed to the place where these tasks are delegated to others, just as having the right tools on the construction site is essential, so is having the right tools in your office.
Some of the items here will help you do your job and some will make it easier on the people you do business with - and easier on you. Then there are the quotes among them. They are not particularly about real estate, but they are about the person that becomes a success.
Because there are few lone wolves that become the real leaders in this business, acquiring various business and leadership skills will help carry you further toward your goals. You do have goals, don't you. The links below will help you develop some of the soft skill that make the job a whole lot easier.
16 First Time Flipper Mistakes
Congratulations on deciding to flip a house, intrepid investor! Now double down on your bright idea by avoiding these rookie blunders.
1. Forgetting about building permits
A little unlicensed construction might not seem like a big deal, but permit problems can lead to lawsuits if potential buyers (or their potential lenders) discover defects late in the process of a sale. If you’re working on your home’s structure, plumbing, gas or electrical systems, you’re probably going to need the city’s stamp of approval.
2. Skipping a conversation with a local real estate expert
The Internet is a marvelous source of market information, but it shouldn’t be your only source. A local pro can help you with everything from finding your flip in the first place to puzzling out its ARV (After-Repair Value).
