July 31, 2012 · 1 Comment
There is plenty of fast money to be made in real estate investing today but do you want to have to find a new way to pay the bills tomorrow or build a sustainable business which lasts?
Real estate investors who want the cash to keep on flowing in and who want to continue to enjoy the freedom real estate investing provides for the long run need to incorporate the following 6 elements into their business plans…
Many real estate investors become so consumed with chasing the next dollar and worrying about paying the next month’s bills they forget all about branding. Unless an ongoing effort to build a quality brand is made investors will always be frantically chasing the next dollar and won’t have the luxury of enjoying their profits.
2. Maximum Marketing ROI
There are at least dozens of real estate marketing options that work if not hundreds but just working isn’t enough. In order to stay competitive investors must constantly demand the maximum possible ROI from their marketing budgets.
3. Always Learning & Innovating
When you stop learning you stop growing and when you stop innovating your real estate investing business will begin falling behind. Investors must recognize this and have a plan and schedule for staying wired into the latest trends.
4. Have Emergency Plans
Investors who fail to plan for disasters and emergencies will certainly fall victim to them and find their businesses falling apart. It is your job to be prepared.
5. Embrace New Technology
Can you survive another 6 months without embracing new technology? Maybe, perhaps even 12 months but that is a 12 month lead you are giving your competitors, making it much more difficult and expensive to try and catch up. Don’t lose your edge.
6. Dedication to Customer Service
It is all too easy for real estate investing pros to get caught up in the competition and be influenced by others who will do anything it takes to close a deal, while becoming conceited. Never forget who really pays your bills and remember each and every prospect has the potentially to provide a lifetime of leads.