There are numerous clichés about planning. Here’s one: “If you fail to plan, you plan to fail.” Being successful is not as difficult as it seems when there’s a written plan and a way to measure the efforts. That said, let’s review the key elements needed in a business plan for a real estate investor.
Have you ever exceeded budget, run behind on schedule, or disputed with your contractors while constructing or renovating your building? If so, you’re not alone… Here are some of the things that you can do to keep your project on schedule and under budget. View the full article: Construction Management 101: The Real Estate Investor’s
Not all LLCs are created equally. How beneficial your LLC structure is to you depends heavily on the state where it is formed. If you’re looking into forming an LLC or series LLC, take the time to study these three states in greater depth. View the full article: The 3 Best U.S. States for Forming
Setting up an LLC isn’t as difficult as you think, but when’s the right time to put your property in an LLC? When should you leave it in your personal name? What’s the point of an LLC at all? As an experienced investor, I’ll address all of these things here. View the full article: Stop!
Planning for a 1031 exchange can seem intimidating. As with many areas of the tax code, understanding what the IRS allows and doesn’t allow is not always crystal clear. Learn what closing costs and fees can be included in your 1031 exchange to maximize your tax advantage here. View the full article: 1031 Exchange: What
NBA great Michael Jordan once said, “Talent wins games, but teamwork and intelligence win championships.” Want to be a real estate champ? Hire the best! Here’s who you’re going to need and how to go about finding them. View the full article: How to Hire Amazing Team Members for Every Real Estate Process—From Finding Deals
Looking to improve the bookkeeping for your real estate investments? You’ll find your business getting better and better and your life getting easier and easier with an excellent set of books. Stop putting it off and follow this step-by-step guide to get a simple, intuitive system in place. View the full article: The Investor’s Simple
With any type of business, there are of course key metrics to evaluate. But one thing that shouldn’t be left out is the importance of community. Community engagement and transformation is difficult to quantify, but people notice when you’re making a difference. So let’s discuss charity as a key indicator of success. View the full
It doesn’t matter where you are in your journey to defend your assets: these basic yet essential asset protection concepts can keep you out of unnecessary legal trouble. Regardless of which specific tools you end up needing, a thorough asset protection plan should at least include the features described here. View the full article: 5
Recently I noticed the utility expense for one of my properties was 30 percent higher than projected. Sure it wasn’t fun, but solving this problem by auditing my bills ended up saving me $250 a month! Worth it! Here’s how to go about auditing your utility expenses (and keeping more of your profits!). View the