Real Estate Flipping Business Plan
November 22, 2014
Ever heard the popular phrase, “if you fail to plan, you’re planning to fail”? Do you have a real estate flipping business plan? From my 10 years plus in the real estate investing industry, my guess would be that roughly half of all flippers do not have a real estate flipping business plan. And planning is paramount to reaching your real estate goals.
Too many inexperienced flippers get into the business without a solid real estate flipping business plan. The Cable television flipping shows should bare some responsibility for fooling viewers that flipping is easy. Dont we all wish it was as easy as we see on television? I know that I do! I’d imagine that the cutting room floor is filled with the more monotonous, non-dramatic parts of the process like planning and budgeting!
Because of the large amounts of money and capital involved in real estate, it’s that much more important that one has a real estate flipping business plan. A good plan also helps you convince others that you’re dead serious.
So you might be wondering, what are the elements of a good real estate flipping business plan? Here are a few important must-haves:
- An Executive Summary – your one page business plan
- A Market Analysis – summary of your targeted locales and neighborhoods
- Your Flipper Bio – this informs your lenders, investors, and vendors about your business and yourself
- Organization and management – self-explanatory: Show that you’re organized
- Marketing and Sales Management – address your goals of buying low, selling high and your marketing plan
- Funding Plan – this is the numbers game/report for your potential lenders
- Financial Projections – analysis of future cash-flow
For more free information to help you develop your real estate flipping business plan, visit www.andrewcordle.com
