Wednesday, December 3, 2008

Real Estate systems

One way to over come your challenges is to systematize the cause of the challenges. As you begin to buy properties you will run into challenges. How is title going to be held; who is your private money lender; what is their address; when will escrow close; who is going to do the property inspection. The challenges pile up. The system comes in when you begin to answer these challenges. You should only have to think about them once. After which create a procedure so you can hand it off to someone else to do. You want to create a procedure for everything. That is how McDonald's does it and those procedures help turn it into the largest real estate holding company in the world. You thought they served hamburger? The individual store owners sell the burgers while McDonald's owes the land underneath the McDonald's.

So start your procedures from the first decision you make. You should have a buying & selling system; a marketing system; rental system; private money system; researching leads system; direct mail campaign system. You want to have a system anyone can come in and do with having to ask you everything first. You will be amazed how big your procedural book will be that defines your business and system. Take it one step or decision at a time.

See Ya,

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