Creating a business plan

[Sarah Hansen]

Hey folks!

I'm new to investing. But I'm looking at getting very serious about it. I've been doing a lot of research in various types of investments and areas. I'm currently living in WA state and my house has gone from 550k to 950k (estimates) sooo I'm planning a move to Texas here in the next few months. With that being said here's the outline plan:

1. Buy personal home (likely 5-10% down so I can spend the rest on investments)

2. Investing in an AIRBNB with my dad(he really wants to do texas so fine) 

3. Investing in AIRBNB (florida) (depends how #2 is doing with a management company otherwise I'll go to multifamily instead) 

4. Unknown maybe multi family or airbnb (depends how 2 & 3 are doing) 

I'm hoping to do all of this a few months apart and using all the revenue from the sale of my house. I might have a partner on the 3rd one well. But for now banking on doing it solo. I was speaking with a lender who said LLCs might not be worth it and might actually be detrimental or my goals and speed of purchasing. The end goal honestly is to quit my W2 job soon. However, I know it might take some time. I'd like to develop a solid business plan but to honest I'm not sure where to start or what all to include in a well formed business plan. I just know I'm serious, I've done a lot of research thus far. But I'm ready to take action. Any advice, resources, and links would be wonderful! I've spoken with a number of realtors, visited various areas, and so I know I can do this. It's making sure I set myself up for success. 

[Joe Villeneuve]

Start with a set of financial goals, and reverse engineer it from there.  As you work backwards, each step sets up the next step and so on...like prerequisites in college.