Functions Of Management

Business planning is the road map that calculates how many transactions you must close, what your total overhead cost per transaction is and how many activities you must complete to meet your income goal.

Most real estate professionals recognize that working in real estate brokerage is a business, not a hobby. But few apply basic business principles to their real estate business. Even Agents and Brokers who value setting goals and defining specific objectives for their business often lack the time and expertise to develop a comprehensive budget and business plan.

real estate business plans outline and evaluate all aspects of your real estate business venture and provides you a specific roadmap and process on how to achieve your goals. A good business plan starts with your "Wish List" i.e. how much you wish to earn and then guides you through the process of examining the key aspects of generating positive income: Revenue, Expenses and Business Development

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Everyone has different levels of comfort in organizing their lives and each person has special tricks they use to keep themselves organized. I get to experience all the unique ways people "organize" their real estate files when they give me the opportunity to do their loans. Most mortgage brokers are thrilled at the thought of doing loans for people who own a number of properties and I am one of those mortgage brokers. I also however, quiver at the thought of organizing all the information that goes along with doing just one of their loans.These are the things that you, your accountant and your mortgage broker should have at their fingertips. It will make your life much easier and no matter how many properties you own, you will find that this system works. Just try it and tailor it to your needs. I also have an excel spread sheet for rental properties that will help immensely, if you would like to get