A Simple Plan for Starting a Business of Real Estate Investing

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!

Steve Majors - The Lazy Investor
Profit from Real Estate Investment articles, real estate investing information and news from one of the most creative investors on the planet FREE MEMBERSHIP & real estate training course http://SteveMajors.com

About the Author

Before his wild success in Real Estate investing, Steve Majors fixed stereos, was a radio DJ and owned several successful businesses. Completing 40 deals his first year in real estate investing, he now teaches others the secrets of Real Estate investing with his very own LAZY methods (minimum effort = maximum results). Profit from articles, news and information from one of the most creative investors on the planet! http://SteveMajors.com

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Real Estate - Where you should be Buying Today

Today, when one is thinking about purchasing real estate, not only the price range, the condition and the investment are important, but so is the location. The location of your real estate property is very important since this is where you will live with you family or where you will rent to another family.



Many people have a hard time trying to decide where to buy a home. Should it be in a big city such as New York City or Los Angeles, in the country like Holmes County, Ohio (home of the Amish), or in a smaller town such as Charleston, South Carolina? Rather you want to live in a big city where there is plenty of nightlife, or you want to live in a small town where everyone knows everyone or something in between, find the right location to purchase real estate can be difficult.



When you begin to think about a location where you want to purchase your real estate property, you must first think about a general location. This will be a personal preference. Do you want to live in the big city where there is a lot of hustle and bustle, noise, and a faster pace of living or would you like to live in a quiet corner of the country where there is little noise and people live at a slower pace. Maybe you want something in between. Which ever area is your preference, it must be the first step you take in deciding where to buy real estate.



Once you have decided on the general area, you can then compare a list of cities that are located with in that area. During this step, you want to look at the cities closely. What types of schools, libraries and churches are available in this town? Is there a hospital or doctor close by? How far is it from neighboring towns and cities? What is the population? You may even want to go visit your chosen town for a few days to actually see what is available and if it would be a place where you would want to live. Once you have decided on a city, you are then ready to begin seeking your property.



Today, many people are leaving the bigger cities and seeking homes in the cities suburbs. A lot of people work in the big cities, but when it comes to living, they prefer to live the big city for the quiet life of a smaller town or country. In the larger cities today, the crime rate is rising, the noise and pollution levels are exceeding reasonable limits and the cost of living in the city is rising. Therefore, the idea of a quite life without the threat of crime, noise, pollution or higher cost of living is attracting people from all walks of life all over the country.



According to Money Magazine, the best places to live in the United States are smaller towns that are suburbs of large cities. These include; Moorestown, New Jersey, Bainbridge Island, Washington, Harperville, Illinois, Vienna, Virginia, and Louisville, Colorado. (www.cnnmoney.com). Out of the top 100 best places to live in the United States, no larger cities were mentioned. Most were smaller cities or country areas.



Buying a house is difficult. However, by defining and analyzing the location where you would like to purchase real estate, some of the difficulty can be eliminated. Finding the right location is just as important as the cost, the maintenance, the investment and the closing. Be sure you choose a location that best fits your needs.





Resources

http://homebuying.about.com/gi/dynamic/offsite.htm?zi=1/XJ&sdn=homebuying&zu=http%3A%2F%2Fmoney.cnn.com%2Fbest%2Fbplive%2F CNN Money Online. Retrieved April 1, 2006.

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Don't ignore the market.

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