Читать книгу Why Do Contractors Lie? - J.O.A.Maurice - Страница 16

One of the lessons I learned in my real estate educational journey was the importance of having a real estate team in place before starting a rehab. Some members of this team became my paid consultants. The team should be composed of a real estate attorney(s), realtors, mortgage and private money lenders, accountant(s), financial advisors, and contractors of all kinds like plumbers, electricians, and general contractors. In addition to having a good team, you should be a regular at different real estate association meetings, and you could be a formidable investor. The goal of having a team is to make sure there is readily available expert advice for every question an investor may have without wasting too much time or groping in the dark, so to speak. From my educational classes, the instructors and speakers emphasized the importance of having a plan and working that plan. As Yogi Berra once said, “If you don’t know where you are going, you might wind up someplace else.”

I learned the importance of starting a real estate business, like any other business, with some basic knowledge and a plan. A plan provides a road map so there is no guesswork. You just need to be disciplined and stick to it. Also, a clearly written and communicated plan can be incorporated into a contract that guides the conduct of all the contracting parties. A contract may also provide for inspection and review points that can unearth mistakes in a rehab in a timely manner to be rectified.

As you will note in this chapter, I have had a long experience starting with venturing in this business without the necessary required knowledge, making several mistakes, then stepping aside, taking a much-needed strategic retreat, then re-starting my career in the right way. This re-starting involved factoring into my budget amounts and time for education so I could build my business on a strong foundation, the way you need to when starting. If you are already in the business and experiencing turbulence, you may need to take a strategic retreat and re-group. I hope my story inspires you to re-start in the right way like I did.