In our last Fun Facts Friday episode, we talked about looking back at the past year. Documenting and recording everything you did relative to your real estate investing, or, if you’re a Newbie, all the education and preparation you did as well as examine your personal finances. Or:
In this episode, we will outline exactly what elements are needed for your 2018 strategic plan. The importance of getting the plan started and completed before the new year is important.
It’s just important that you document everything.
Now it’s time to put the pedal to the metal or this is where the rubber meets the road!
The idea here is to get this plan written – Even if it is only one paragraph per tab or per page
Take note: this is not a Business Plan. A business plan is more formal and includes the following:
If you want to go there, you can but it’s not necessary for the purpose of this document.
To jumpstart your plan, start building now with this simple outline
“I want to achieve _____ so that I will be able to do________”
“5 years from now, my company will _______ by _______”
Don’t worry if you don’t understand every element at this point or know how you’re going to accomplish everything in the plan. Remember, your strategic plan can and will change over time, and as you learn, you’ll fill the plan out with more details.
Start researching, collecting data, buy your notebook and/or whiteboard and start the process.
Successful real estate investors (REIs) treat real estate investing like a business and create a Strategic Plan
You CAN do this plan before year-end! Don’t delay!
Just do it!
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