With regards to real estate investing very few investors actually look at building their property portfolios as a real business. They desire a change in their way of thinking and approach real estate investment more like an business owner. house extensions cardiff
In our thoughts and opinions two of the essential secrets to running a successful Real Estate Development business are using great systems and forming great long-term relationships.
Entrepreneurs use proven systems and leverage off others to run their business effectively and they view their business as separate from them. They will realize that they are not their business and see their business as the end product. A property developer who understands that, has a real chance to become very successful.
When you realise that real estate development is a business and that your business is your product, you can then commence to work on building your business. To build an effective real estate development business you will need to change the way you think and your approach to real house investing.
We assume that the ultimate real estate designer is what we call a ‘Real Estate Advancement (RED) armchair entrepreneur’. The thing is, the traditional property programmer still thinks that real estate development is a job. They think that time equals work and work equals money, whereas a RED armchair entreprenuer feels that time equals collateral and equity equals flexibility. In other words if RED armchair entreprenuers usually spends you a chance to build equity it will allow them get free of the business of course, if they want more freedom they build more equity.
Traditional real estate developers still believe they need to do the work and be part of the system whereas RED armchair entreprenuers think that they should build great relationships and have others do the work. This permits RED chair entrepreneurs to build their businesses much faster.
Once the business owner is also the hands on developer it will usually require far more hard work to make the business successful. It is much smarter for any person considering going into into the industry to set up a business where the systems run the business, and let others run the systems. Quite simply the systems and others work for you so you don’t have to.
Focusing on your business allows you to focus on the things that really matter which will give you the biggest go back for your efforts. CRIMSON armchair entrepreneurs use systems to streamline tasks and avoid chaos for them to focus on growing their business efficiently.
When the systems are being run by others RED armchair business owners can focus their attention on innovation. They can capitalize occasions of motivation and through effective communication they’re able to switch their dreams into actuality.
If you think about some of the truly amazing property developers, names like Jesse Trump will typically come to mind however one of the biggest property developers was actually a school drop-out, Ray Kroc the founder of Burger king. An entrepreneur with an incredible vision who labored on his business and not in the business.
You see Ray never considered that he was in the hamburger business but instead that he was in the business of real estate. Ray secure development sites in great locations, put fast food restaurants on them which he franchised. Ray Kroc died on January 18, 1984 and was worthy of an estimated $500 , 000, 000.
YOUR ULTIMATE GOAL
While companies and proud parents our most important advantage is some as much as we wanted to be actively involved in real estate development we knew we didn’t want to be traditional real estate developers who performed extended stays trading their time for money.
Instead we looked at the top picture and applied the same entrepreneurial skills there were developed in our new practice to property development. Real estate property development had to contribute to our ultimate goal of reaching financial freedom and giving again.
We knew that when we achieved our ultimate goal it would give us more choices so we could commence to live our dream lifestyle relating to our core ideals and with passion and purpose.
To be successful at real estate development you need to hook up with what is most important to you personally. As soon as you start pondering a lot more like a RED chair entrepreneur and set your ultimate goal or the dream that drives everything you the actual more real estate development will give you a sense of direction and goal.
Your ultimate goal can make you want to hop out of bed in the morning and stay up late, it is your innermost driving push. It is going to allow you to live your life deliberately, rather than randomly but it will surely stimulate you to achieve your full potential.