How to Finance & Build 10K/month Cash Flow from Rentals!

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Not having a plan is planning to fail

Time and time again, beginners make the most common real estate investing mistake. They have goals and aspirations to change their lifestyle and become financially free through real estate. They are so excited they can barely sleep. They read, learn, attend and listen to every bit of real estate material they can find.Weeks, months, even years pass by. What is the result? They are still doing the same thing. Still have the same goals and aspirations. Still learn everything they can, but have yet to do anything in real estate. Is it fear? Lack of knowledge? What is the mistake that is holding them back?

I have seen this way too many times. The most common real estate investing mistake is they do not have a plan. There is no focus, no systems, no tasks that if done will lead to success. Not having a plan is planning to fail!

Solution: Focus on one strategy and become a master at that strategy. Document your strategy in a business plan. This plan is the key to your success.

So what are you waiting for? Get your pen and paper and start with an outline. Define your strategy, criteria, market, exit strategies, team, systems, how to do the deals, how to finance deals, etc. Get feedback from other investors, especially ones that are successful in that strategy, even hire a professional business plan writer. If you have a great plan that is carried out, success is within your grasps. Happy Investing!

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5 Responses to Not having a plan is planning to fail

  1. Alan Welty says:

    Dear Ryan,

    My business partner and I suffered from what you speak of for a while and then i got fed up and forced his hand. We ended up buying two proerties in Laramie, WY which have proven (after much work, renewing and expanding tenants and doing some TLC to the property) to be WONDERFUL, cash flows great and is a nice stable property. We are now moving on a trying to finance another property. This is another great value-add property with literally 100 great things about it. We keep running into the problem of finding reliable equity. We used clients of mine for the Laramie properties (they are willing to be a reference because they are making a nice 15+% return on their money) but they are tapped out. The property we are trying to buy can produce a 13+% cash-on-cash return for an investor but we keep running into flakes and idiots. We have created some great property evaluation tools and have 20+ years of experience between the two of us. We just need help finding a reliable, large fund for equity. Can you help???

  2. Ryan Moeller says:

    Alan,

    Congrats on the great investments. Sounds like your only challenge is raising some private money, unfortunately this is most investors challenge and people are still weary. I believe the next 3-5 years are the best time of our lives to invest in real estate while prices and at or near bottom. We will talk about this time in 20 years like these where the glory days!

    I wrote some articles on raising private money on my blog. You can also download some free guides on how to raise private money from the link on the right. Check those out. Raising private money is not easy as it often comes down to trust. You have to show a successful track record and really cultivate the relationship from nothing as you have to basically convince complete strangers to give you thousands of dollars.

  3. Luis says:

    Ryan, what would be very useful would be a sample of what a real estate investing business plan can look like. It would serve as a catalyst.

  4. Ryan Moeller says:

    Luis, here is a quick outline of what you should include in your business plan. It would be very useful to create one and have a professional business plan writer assist.

    1. Strategy
    2. Market
    3. Criteria
    4. How to find deals, marketing plan
    5. How to finance deals
    6. How to do deals
    7. Exit strategies, Backup Plans
    8. Team & Systems
    9. Ilustrate example deals
    10. Financials

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