Look, I get it.. you’re standing at this starting line, itching to get your first.... or next.... investment rolling, but all the advice floating around feels like someone’s reading off a stale script. Let’s be honest, I’ve watched folks who jump into this game as if playing roulette.. firing off offers on duplexes in Phoenix or leaning on some “sure-thing” house hack in Austin without ever sketching out their plan. That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day. A simple baseline plan might’ve steered him toward properties with more reliable maintenace histories or a stronger neighborhood profile, saving him a lot of sweat. And just the other day, I was grabbing coffee with a friend who reps a group of invsetors out in San Antonio.. they got burned early on by not clarifying their rental criteria, picking up a triplex that sounded good on paper but turned out to have a revolving door of problematic tenants.
A baseline business plan isn’t just a mind-numbing exercise.. it’s the guardrail that keeps your momentum from swerving off into the ditch. Think of it as the rough sketch that helps you figure out where you want to swim: Omaha’s stable single-family rentals with decent cash flow and strong appreciation potential, the sizzling up-and-coming pockets around San Antonio where off-market deals still lurk if you’re willing to roll up your sleeves, or those tight-knit Chicago neighborhoods where a trusted investor-friendly agent can point you to contractors who won’t ghost you mid-reno. I remember working with a client a couple of years ago who wanted to do a 1031 exchange into Phoenix multifamily.. they had some numbers in mind, but no framework beyond “I want more doors.” After we drafted a bare-bones plan that considered their timeline, target rents, and capital reserves, they honed in on a medium-sized complex managed by a local group.. from what I’ve heard, these guys had impressed other out-of-state buyers before and delivered on their promises. Without that baseline plan, we might’ve ended up playing Whac-A-Mole with random listings and half-baked projections.
I’m not pitching perfection here. Plans evolve. Markets shift. Even now, I’ve got clients in Austin who started off focused on short-term rentals and suddenly found multifamily syndications more enticing after running the numbers and chatting with other savvy folks in my network. But having that initial plan- hell, even a scribbled outline on a napkin; will give you something to pivot from when the market throws a curveball. It’s not about chaining yourself to a rigid model; it’s about giving yourself a reliable starting point, so when the next tempting deal in Phoenix’s midtown corridor pops up, you know it fits into your broader strategy rather than just hoping it’ll magically work out.
At the end of the day, nobody’s going to knock on your door and hand you a neatly packaged portfolio. If you’re asking whether to lay a baseline plan, I’d say you should, if only to save yourself some of that restless confusion that hits at midnight after a marathon Zillow session. And if you’re aiming to step into these markets. Omaha, Chicago, Austin, Phoenix, even San Antonio-I’m always keen to chat and share what I’ve learned from two decades of navigating the twists and turns of this world. Just don’t feel like you have to walk into the arena blind. A loose plan in hand is better than a dozen frantic Google searches, trust me. I’m a licensed agent in multiple states (my Arizona license number’s on file if you need it), and while I’m not your attorney or accountant, I’ve seen more real deals than I can count. Working with someone who’s already plowed through the weeds can spare you those headaches and keep you from feeling like you’re reinventing the wheel every time a new opportunity pops up. Anyway, I’ll leave it there; it’s your journey, after all, and if we’re going to kick this can together, I’d rather see you show up with at least a rough map in your back pocket.
Julian
Turning investment visions into REALITY in Omaha, NE - Ranked #1 city to move to by Forbes Magazine.
