HOW IT WORKS
Over the next couple of weeks I'll be sending you emails with links for you to download different tools and gain access to information that's designed to help you achieve success at every step of the Real Estate Investing Lifecycle.
REAL ESTATE INVESTING LIFECYCLE
Over the past 12 years of actively investing in over 500 residential and commercial properties, I’ve always strived to work smarter and not harder, while still making the income that I desire. In fact, that’s why I started Leadflow.
In that time, I’ve also come to realize there are only 6 levers that you can pull to successfully complete a profitable real estate transaction. They make up what I like to call the Real Estate Investing Lifecycle.
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Step 1: Generate Leads
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Step 2: Analyze The Deal
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Step 3: Make Offers
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Step 4: Fund the Deal
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Step 5: Rehab the Property
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Step 6: Sell/Rent the Property
In each steps of the Real Estate Investing Lifecycle, you'll discover that there are different tools to use and different areas of the business that you’ll need to focus on to be successful. You can download a copy of the Real Estate Investing Lifecycle above to tack to your cork board at home. It's a great quick reference tool to have as you grow your business.
The biggest mistake you can make is trying to learn and master each step of the Real Estate Investing Lifecycle before starting to execute on your real estate business. Take each step one-by-one and learn as you go.
If you have a question on the process of real estate investing as you go along you can always check out our blog here. There are a lot of great articles and resources available there. If you have any specific questions about setting up any of the legal aspects of the business, I recommend seeking out a qualified real estate attorney in your area.
It's critical to build out a great network to be successful in real estate.
FOUNDATIONS
Before we dive into each step of the Real Estate Investing Lifecycle, it’s important to make sure that you, like the homes you want to rehab and build, have a solid foundation.
This is where many real estate investors go wrong in the beginning. They jump in and ‘try’ to do a deal instead of setting up a real estate business that will increase their chances of being successful 10-fold.
When you have a legitimate business set up, you will not only feel more confident, but you'll have a sense of momentum, a sense of ownership driving you. It will also serve to protect you and the ones you love in the event that something goes wrong.
It starts with the Business Start-Up Checklist that is in the Tools & Resources section above. .
Even if you’ve already done a deal, it’s worth a few minutes of your time to look at the checklist and make sure that you’re not missing any of the steps. You should pay special attention to the legal entity set up part. If you are missing this step, you may want to pause your efforts and make sure to address that before moving forward. Seek out the help of a local real estate attorney in your area to assist you with that.
After you have a good understanding of the Real Estate Investing Lifecycle and have your business set up, it’s time to start generating leads!
I’m going to send you a couple of great lead generation tips and tools in my next Real Estate Investing Tool Kit email!
Disclaimer:
These documents and information contained herein are designed to provide accurate and authoritative information with regard to the subject matter being covered. It is given with the understanding that the authors and distributors are not engaged in providing legal, accounting, real estate or other professional advice.
If legal advice or other expert or professional assistance is required, the services of a competent professional person licensed in your area should be sought.
