New to Real Estate. Do I need to create a Business Plan now?

[Dana N.]

I have been trying to write a business plan and because we are just starting by doing small investments, it is difficult to find/create a plan that is so basic.

Do I need a business plan before I start investing in to real estate? We plan to start small with buy and hold property and rent them out. Our plan is to start with 2.

Should I wait until we have acquired more investments, obtained cash flow from properties?

Thank you in advance for your advice.

Dana

NicholandSons R.E.