What are the 4 critical factors for launching a successful real estate startup today?
It doesn’t matter whether you are a solo investor looking to build a profitable portfolio of rental properties, are putting together your own fund to scoop up large numbers of distressed properties, you have an innovative wholesaling plan for flipping homes over the web or you just looking to turn up the volume of houses you can flip each month, these 4 elements remain essential to your success…
1. Real Estate Investing & Business Education
You don’t need a college degree or even a real estate license but you do need to be armed with a proven system for investing in real estate, be aware of the pitfalls and how to avoid them and understand how to profitably run a business and all that it involves.
2. Networking
Whether it is online via social networks and forums or in person at organized local events networking is critical for staying on top of changes in the market, developing new referral channels and keeping up with trends.
3. Marketing
Today marketing is easily 90% responsible for your success in the real estate investing business. Effective marketing and marketing which maximizes ROI and profit margins makes all the difference in the ability to survive and thrive. This requires taking time to get educated on best practices, staying alerted to new opportunities, testing and for those who really want to win consulting a pro or coaching.
4. Software
With so many working parts and elements involved in setting up, organizing and managing a successful real estate startup up today entrepreneurs must arm themselves with the right software and tools to execute and get more done in less time. Don’t go broke buying everything out there but do recognize the advantages and how high the ROI tapping into select programs can be.
