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Running real estate as a business
I watched a YouTube video with @InvestorGirlDiana and @CoachDebbie having a discussion around running real estate as a business. It was really interesting to watch because I never thought of it in this way.
What have you do to run your real estate investments as a business?
@Medaloproperties @Danielle_Chiasson @ElizabethKelly @zenlandinvestments @reiLawyer @sandrocanada @MargaretCP @BiosisRealEstate @Pawel-Blazejewicz @Lorestanga @ladygina_real_estate_investing
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3 Replies
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Real estate investing is a business and you need to run it as such. You must keep detailed accounts, manage your cash flows, forecast market conditions, hire employees (even if that is just yourself), plan your exit strategy, etc. If you systematize your investments like a business you will run them more efficiently, effectively and profitably.
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As a beginner in real estate investing, it’s important to run your investments as a business. This means having a clear business plan, setting financial goals, and tracking your progress. It also means being organized and efficient in your management of properties and tenants.
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I think it’s a journey. Many of us start out with real estate as a hobby, because of our day job and just learning about things. As time progresses, real estate either fades as another failed interest, or increases to where you leave your day job and go all in. At some point it needs to be though of as a business or else it’s just a hobby and hobbies don’t get critical attention.
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