Building your brand is all about finding and utilizing your Unique Selling Proposition – or USP. Your USP is what makes your business different and better than other REI businesses in the area. One great way to discover your USP is by performing a SWOT analysis on both yourself and your competition. In the previous article, we performed the SWOT analysis on your competition. Now let’s perform it on your own business as a way to develop your brand: SWOT Analysis The SWOT analysis stands … [Read more...]
Your Brand and Your Competition
September 6, 2012 By Leave a Comment
Your Brand and Your Competition If you were the only real estate investor in the United States, branding wouldn’t matter. But you’re not the only one. There are hundreds of thousands of other real estate investors all vying for the same great property investments. These people are your competition. And they are the reason branding is so important for real estate investment success. Scope out the Competition Unless you are totally new to the area, you probably have an idea of who your … [Read more...]
Getting the Most From a Coaching Relationship
August 19, 2012 By Leave a Comment
Getting the Most From a Coaching Relationship Securing a coach can be one of the best investments you’ll make for your REI business. And although a good coach will guide you through the process, there are some things you should keep in mind too. Try these techniques to get the most from your coaching relationship: 1. Stay Honest Coaches are intuitive people, but they’re not mind readers. Staying completely open and honest with your coach will go a long way towards getting the most out … [Read more...]
Investment Property Management: What Metrics To Track And Why?
August 9, 2012 By Leave a Comment
Investment Property Management: What Metrics To Track And Why? Whether you manage your own investment portfolio, or hire a property management company to manage your investments, there are key metrics to track and measure if you want to truly find success. Any two real estate investors will define success differently, especially when it comes to property management. If you follow on-line forums dedicated to real estate, you will notice heated arguments on the merits of using property … [Read more...]
What to Look For (and Avoid) in an REI Coach
August 9, 2012 By Leave a Comment
What to Look For (and Avoid) in an REI Coach A simple Google, http://www.google.com, search for “real estate investment coach” will bring up pages and pages of options. And in addition to finding a coach online, you may be able to find some local coaches depending on where you live. Remember, coaching can be very expensive – often costing thousands of dollars a year. So it goes without saying that doing your homework and choosing carefully is super important. To help you in your … [Read more...]
My Mind Is A (small) Glass of Water: A Lesson on Productivity
July 1, 2012 By Leave a Comment
My Mind Is A (small) Glass of Water: A Lesson on ProductivityI like to compare my mind to a glass of water.It’s small, mostly transparent, and limited in capacity. I can add water to the brim of the glass, but once it’s full it can no longer fit any additional water. Instead, it just spills over the side of the glass and runs all over the table. In the same way, my mind is continually filled with bits and pieces of information – thus when new information is added, the old tends to spill … [Read more...]
Successful Investing while Holding a Full Time Job: Focusing on Your Business Core
April 16, 2012 By Leave a Comment
Successful Investing while Holding a Full Time Job: Focusing on Your Business Core You have done the required homework in your Real Estate market and you have established and written down your buying criteria.With this foundation we are ready to adopt a concept preached in management books and MBA programs across the country. To start I suggest you take a review of your skill sets and figure out what is “Core” to your business and outsource everything else called “Context. As a full … [Read more...]
How Your Business Plan Can Help Keep You Motivated
January 26, 2012 By Leave a Comment
How Your Business Plan Can Help Keep You MotivatedEarlier this month, we discussed the why of having a business plan. But this is not about the why you need one. This is about why having a plan keeps you motivated. This week is considered the most depressing week of the year for a number of reasons including the credit card bills from the holidays, seasonal depression, loss of focus on resolutions and overall disdain with your position in life.I don’t know if you find this “science” to be … [Read more...]
Master REI Business Planning
January 24, 2012 By Leave a Comment
Master REI Business PlanningDo you have a master plan for your business? Can you articulate what you vision is for this year? The next five years? Tomorrow?If not, it’s time to block off a little time. You may want to block out a whole day, or if you can’t do that – at least an hour a day until you get it done. You need time to get your plan down on paper (or word processor) and really understand where you are going with your real estate investment business.Once you emerge from the cave, … [Read more...]
Business Plan Writing
January 18, 2012 By Leave a Comment
If you’ve even scratched the surface of business plan writing, you’ll notice that there are a few of different structures and purposes for a business plan. You can typically categorize them in three buckets – the master plan and getting the money plan (these are typically required for loan apps) and the plan you present to potential investors.So, how do you choose which structure to use? The simple answer is that you need all three. Start with the master plan and design a getting the money … [Read more...]
Business Planning for the Worst Case Scenario: What Happens if You Die?
January 12, 2012 By Leave a Comment
Business Planning for the Worst Case Scenario: What Happens if You Die?Today, we’re going to address a tough topic – what if something happens to you? What happens to your business? What happen to your family?This is a huge part of planning your business. You need to plan for the worst case scenario, so that you put the proper actions in place. This is especially important when you are soliciting private money partners. I actually got this question when I approached a relationship financing … [Read more...]
Building A Business Plan
January 9, 2012 By Leave a Comment
As we saw in my last article, building a business plan helps you focus, prioritize and measure your business. Consider it your roadmap to success. You start at point A and get to the next point. If you miss a turn, you can always refer back to it and readjust.Today, we’re going to talk about building the one page business plan for real estate investors. Most business plan templates are long – somewhere between 6 and 10 pages or more. And there is a time and a place for that, but the … [Read more...]
Business Planning
January 5, 2012 By Leave a Comment
It’s officially 2012 and it’s time to kick your business planning into high gear if you haven’t done so already. This month, we’ll be exploring the benefits of REI business planning. You’ll learn a lot about how to put your plan on paper and how to use this tool in sales, tracking and growth.Today, I want to give you the why of having a business plan. A business plan helps you build the framework for your real estate business. And that framework is simply Find, Fund, Manage and … [Read more...]
Aspiration VS. Desperation In Real Estate Wholesaling?
December 16, 2011 By Leave a Comment
Aspiration VS. Desperation In Real Estate Wholesaling?I want to highlight one disastrous mistake that real estate professionals can tend to make with their real estate marketing campaigns and how you can avoid it. We’ll refer to this concept as…Aspiration vs. Desperation Can anyone else relate to the following? When I had initially started my professional career wholesaling houses, I constantly felt the sting of desperation early on. This always came as a result of not having enough … [Read more...]
Improve Sales & Customer Satisfaction
October 31, 2011 By Leave a Comment
Improve Sales & Customer SatisfactionReal Estate Marketing, Is less more? Have you ever heard of the jam problem? For those of you who are as in the dark as I was, this has nothing to do with the rising prices of Smucker’s to mirror our peanut butter shortage. Instead, it refers to a psychological understanding of choice and how people will behave in different scenarios, whether you are following this advice for your real estate marketing efforts or any other industry.Although we may … [Read more...]
The 10 Commandments of Real Estate Productivity
June 24, 2011 By 2 Comments
The following are the 10 commandments of real estate productivity, used by the nation's most successful real estate professionals to be more efficient with their time. Most are very simple, yet all are extremely powerful when applied to daily life. May these hallmarks of productivity help you close more deals, make you more money and allow you more freedom and free time:1. Value Your Time It's cliche, but true, you can make more money, but you can't make more time. Value your time. That … [Read more...]
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