What's the Plan?!?!

When we first decided to be real estate investors we thought "This will be so easy! Market, sign a contract, go to closing, GET PAID!" But we eventually learned that it's not as cut and dry as that. Yes, those are the basics that you need to have in place and make sure are involved in every transaction, but we were naïve to think there wouldn't be any more than that. People want to know what you do, who you are, what you stand for, how and why you are going to help them, and so much more.

One of the biggest, most helpful things you can do is build a business plan. It can be a long process but you'll see that in the end it's one of the best investments of your time you will ever make! Early on we made attempts to write it on our own and to be honest with you it did not go well. We got frustrated, got in fights, didn't know what to include, didn't know what to leave out, didn't know who we were writing it for (ourselves, for people to invest in our company, our clients, etc.) - it was a MESS!

At that point we decided to find some help and guidance. Lucky for us - you can find anything online! After doing a search for business plan templates and review many of the options that popped up, we decided on using www.LivePlan.com from Palo Alto Software. What a tremendous help! It has everything broken down into sections and has helpful tips and descriptions to help you understand what each section should contain.

So if you are just starting to build your investment business (and yes, no matter what kind of investing you are doing you should treat it as a business - trust me it makes it so much easier on yourself) we highly recommend starting with getting your business plan in place so that you can stay organized and be able to answer any question about your business without hesitation.

CALL ME BACK!!

One of the most important skills you need to acquire when you are in real estate is the ability to make a phone call! As crazy and simple as this sounds, you'd be shocked at the lack of communication there is in this business.

Making that one 3 minute phone call could be the difference between getting paid and being tempted to quit - you hold your own future in your hands!

When I first started in this business the thought of cold calling anyone absolutely terrified me - and to be honest with you, every phone call I make, even to this day, gives me some butterflies in my stomach. But! Without overcoming this fear I would never have gotten to where I am today. I am a successful real estate investor that is on her way to building great stability for me and my family and it all started with a little bit of courage.

So if you're like me and dreading all those phone calls you need to make to become an awesome real estate investor, here is my advice to you - start with small goals and work your way up. Start by making one call every day for a week and you'll see that it's not as scary as you've made it out to be. Then graduate to two calls a day for a week - before you know it you won't be able to stop!

Who has time to wait for emails! Give them a call!

New Year - Perfect Time to Buy Investment Properties

When home buyers traditionally back away from the market is the time for investors, such as yourself, to take advantage of every opportunity to purchase as many homes as possible.  There are many reasons home buyers don’t even think about buying a new home once the New Year rolls around, but in my opinion these are the top culprits:

1. Recovering from the Holidays – Americans are notorious for over extending their budgets and wallets at the holidays.  With all the Christmas presents, parties, and travelling, most people wouldn’t be able to wrap their heads around stretching their funds any farther to take on a down payment and a new mortgage.
2. It's Cold! – Especially here in MI and the other northern states people go into hibernation mode.  They don’t like the frigid wind, the wet boots, the ice and the slush – and that’s just going to check the mail!  Forget about moving everything you own from one house to another!

And these are the exact reasons you should be buying as many properties as you can (especially if you’re planning on rehabbing them –and yes paint and carpet count as rehab!).  When people get their tax money back and everything outside thaws they’re all going to start looking forward to Spring and new beginnings.  And when that happens you’ll just so happen to have the perfect, move-in ready home for them to buy.