Treat REI as a Buisness. Get started on the right foot

[Matthew Morrow]

Hello everyone,

As an investor, mentor, and team lead of an investor focused real estate group- we instill these values and approach to real estate investing with all of our clients and partners. Thought this was worth sharing.

Treat investing as a genuine business rather than a side hustle. Here are the key takeaways for anyone on this path:

1. Business Plan:

Start with a clear plan. Define your goals, target market, and financing strategy. This is your roadmap.

2. Market Knowledge:

Deeply understand your market. Know the trends, demographics, and future developments to make informed decisions.

3. Financial Management:

Keep a tight grip on your budget, including acquisitions, renovations, and unexpected costs. Financial discipline is crucial.

4. Legal Compliance:

Ensure you're on top of zoning laws, landlord-tenant laws, and that your contracts are solid. Legal integrity is non-negotiable.

5. Team Building:

As you grow, so does your need for a professional team. Realtors, property managers, contractors, and legal advisors are invaluable.

6. Adaptation and Learning:

The real estate market is ever-changing. Stay informed and be ready to pivot your strategy as needed.

7. Customer Focus: (tenants)

Never forget the end-user of your properties. High standards and ethical practices will build your reputation.

Shifting your mindset to treating real estate investing as a serious business is fundamental to success. It demands strategy, discipline, and a professional approach.

Would love to hear your thoughts or strategies on approaching real estate investing from a business perspective!