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Business Development

REI Business Planning: First Things First

second noLook, you already know you need a written real estate investing business plan, right? I mean, at some level you get that you need something structured to guide you cogently from point A to B.

But let's be honest. For most of us, our "business planning" reality is to just bank as much money as possible, as fast as possible, and hopefully someday get out of the blasted J-O-B.

That's about as far as it gets for most investors. 

Recently I sat down with Mogul faculty Steve Cook and talked about this. Steve's helped literlaly hundreds of investors craft their real estate investing business plans. In groups and one-on-one. And when it comes to business planning for REI, he's got a little something to say about how to do it right, and how to avoid the biggest, most common mistakes most investors make in the process.

If you've struggled at all with setting up your own real estate investing business plan, prepare to be challenged. Enjoy...

{Mogul Elite Members: Download a transcript of this video in the Power Pack Tools for this lesson. See sidebar.}

Do It To It! Immediate Action Steps
  • Craft: a 1 page plan that focuses only on getting deal #1 done
  • Take: a step back. Forget about planning for year #2 and onward
  • Focus: all your energy at first on getting deal #1 notched on your belt
  • Ask yourself: "What do I really need TODAY to get my first deal done?"
  • Ask yourself: "How much money do I really need to find to be able to do this?"

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