Turning a business venture into real estate requires patience, determination, and knowledge. Learning how to build a real estate investment portfolio will help you further your career and is a quick way to ensure everything goes according to plan. There is no one way to make a portfolio; instead, your portfolio is more like a resume to showcase your hard work and impeccable property selections.
Flesh Out Your Goals and Strategies
Begin making your portfolio with an end goal in mind; this can help you figure out the investment strategy you want to take. Pick one method to start so as not to overwhelm yourself right away in the beginning; you can diversify the strategy later. Consider all financial options, such as hard money lenders, cash financing, a conventional mortgage, seller financing, partnerships, etc., and get all your ideas down on paper to help organize your thoughts and plans.
Create a Business Plan and Find Real Estate Professionals
If you plan to bring in partners or real estate professionals to help finance your first investment, curating a business plan will show your level of sincerity and the big picture of what they will be getting themselves into. This is also an excellent opportunity to show individuals how you plan to grow your portfolio and investments; will you grow exponentially? Or linear? The requirement of a business plan is not necessary but could be an effective tool in helping you keep track of your goals and numbers.
Purchase Your First Property
If you think you have all the successful traits of a real estate investor, you can begin searching for the first property you’ll purchase! You won’t want to buy the first property you like; make sure to calculate an investment analysis to ensure you won’t be putting yourself in the hole by purchasing this real estate. Getting help from a real estate agent on your first purchase can help you learn the ins and outs of the business.
Pro tip: start in your local real estate market because you’ll already know the area and geography of roads, businesses, and other properties.
Diversify Your Portfolio
Now that you have your foot in the door and are on the road to success, you can start to diversify your investments and add more to your portfolio. You can do this by diversifying your asset class, investment strategy, or real estate market.
Diversifying your assets could mean branching out and purchasing commercial real estate or apartment buildings. Expand your market to long-distance properties and others such as coastal homes, multifamily homes, etc. Change your investment strategy by dabbling in the fix-and-flip industry or the buy-and-hold approach to grow your finances.
There is no right or wrong way to build a real estate investment portfolio. Never stay stagnant in what you are doing, and consistently seek to expand and grow your opportunities. There are plenty of options on the market, and if you don’t like the direction you are going in, you can always change your course.Marla Stone, MSW REALTOR® License ID: 01823712 Nora Gallogly Group Beverly & Co. DRE#02078273 i-deal-lifestyle.com | Direct (949) 709-7000 | Connect with Marla on Instagram & Facebook! Marla is the Author of The Clutter Remedy: A Guide To Getting Organized For Those Who Love Their Stuff
Well it is 2016 and are you organized or do you feel like your head is spinning from the entourage of holiday spirit. It is a tough haul from October - January. First there is Halloween, then Thanksgiving, Christmas, Hanukah etc.., and finally tada New Years! You probably have had a lot of sugar, lack of sleep, running around and of course, now, a lower then usual bank account. It may have been fun, but now it is a New Year, and... let's see the next holiday is Valentine's Day. No biggie, unless your single. I-Deal-Lifestylesm offers solutions for you to start living your Ideal Lifestyle now, whether you are single and want a partner, over-loaded with family responsibility or desperately seeking a new you.
Green living practices, healthier water solutions, healthier food options, staying organized, maintaining healthy social relationships and improving existing relationships would be a nice ways to start a New Years resolutions list. It is not too late to start an Ideal Lifestyle Dream list. Write 30 things you would like in an Ideal Lifestyle. Go ahead start to jot some ideas down for what you perceive as your "ideal" lifestyle. You would be surprised at how cathartic it is just to write down ideas and thoughts about how you would like your life to be. It is especially therapeutic to journal ideas, thought, goals, dreams, visions since otherwise the fleeting thought or moments you have about your life will just keep coming and going. You do not have to prioritize the list since I would expect that you would want all 30 things on that list to happen.
Next look at your list carefully for the next week and see if you want to delete something or add something. Really contemplate your list to see if all the things you wrote actually have some value for your life.
After you peruse your list carefully, circle the items that you DO NOT have in your current life, and write 3 ways to achieve each one of those items. Yes just a little more pen or pencil work, but your ideal lifestyle is worth it. Now start to work on those items. Will this be a simple task? No not when you really put the pencil to the paper. Will this exercise be time consuming? Yes...but you and your dreams are important. Remember nothing happens unless something happens.
Getting with your own program is the program. Anyone who says they are an expert may or may not be so it is up to you to take the information you get from others, about how to live an ideal lifestyle, but then mix it in to your own well being and make it work for you.
The New Year does feel ominous, exciting and holds so much good future, forever, fancifully and freakishly all about being organized by knowing who, what, why you are here in the first place.
Marla Stone is a Professional Organizer and Owner of I-Deal-Lifestyle Orange Counties Home Organizer. We serve Orange County including Laguna, Newport Beach, San Clemente, Laguna Niguel, Coto De Caza, Mission Viejo, Rancho Santa Margarita, Dana Point, Irvine, Newport Coast and all of Southern California. We serve Palos Verdes, Redondo Beach, Hermosa Beach and Manhattan Beach. We also serve West Los Angeles, Santa Monica areas too.
Call 949-709-7000 for more information on how to live an ideal lifestyle today!
Marla Stone, Ideal Lifestyle Expert
Organizing one's self if a big task that takes time and effort. Organizing one's space is a big task that takes time and effort. I don't know which one is easier or less frustrating or more valuable. I am pretty sure they go hand in hand. I do know there is a saying that says "the outer is a reflection of the inner". It is no mystery to me when I walk into a home or work environment or a friend's car that is piled up with papers, trash and STUFF that there is probably something going on inside that person either mentally, physically and or emotionally. It does not take a "rocket scientist" to know there is something going on creating the"cyclone" effect. I know all to well from my own environmental "hurricane effects", that my own "Disorganized Self" (D.S.) can create chaos and get in the way of my "Organized Self" (O.S.). I will start having an accumulation of piles of papers, collections of unnecessary items, wild and crazy clothing options, or duplicates of the same clothing item, and a sense of hopelessness and wonderment when looking at it all. My hopelessness comes from thinking about when I will have time to sort through everything, and organize it, and my wonderment comes from the wondering "how did it happen"? As I recall, I organized it the week before, so it should still be clean, correct?? I know that something is going on with me for the passionate chaos to perpetuate week after week, losing my abilities and techniques for on-going organization and order.
I realize that "Outer Disorganization" (O.D.) is due to something with the inner self being off kilter. I know that I create O.D. when my lifestyle choices grow old and mundane, and I get stuck, frustrated and impatient creating and implementing new goals and dreams. I create the O.D. so I can focus on the STUFF, papers, confusion and my tropical storm path, instead of on the "major issues" of my life, like making real life changes, and resolving challenges. I realize that change and facing life challenges can be difficult, and then going forward with the changes, and working through the life challenges, can be like hitting a blizzard with a bikini on....cold and practically life-threatening.
Knowing who I am, what I want and where I want to go can be daunting with thoughts twirling around and around like the Merry-Go-Round of my past. Knowing how to slow it all down, so there is calm and focus, and sorting through ideas, challenges, wants, desires and dreams can be confusing and scary. At the same time the change and challenge "tunnel" I must go through to get to the "new me" and "the new lifestyle" is an opportunity for growth and fulfillment.
The first stage of reckoning with one's D.S. is to formulate an idea of your "ideal lifestyle". Whatever that means to you. Whatever you would love your life to look like, smell like, taste like and be like. This idea will begin to create your individual life picture. Creating a dream board, by cutting out all the pictures and words and symbols from magazines that represent your inner self, and gluing them onto a big cardboard can start you off. Making a list of your dreams and goals may help you become clear on your lifestyle image. Writing out a journal of ideas, thoughts, dreams and wishes will help you formulate your "ideal lifestyle". That is the first step to Self & Space Organization.
My background as a Social Worker for 17 years, counseling 1000's of people, has led me to understand human nature. I love working closely with people and helping them learn to understand and love themselves better so they could be freed up in every way possible. After 17 years of sitting in the "therapist chair" I was glad to get my ARS up and running again. Being a Psychotherapist has its advantages, don't get me wrong. I was able to achieve so much in my 17 year career. I worked with the most extraordinary people, families, groups and colleagues imaginable. I worked with people that had debilitating challenges, Seniors, Children, Families and Individuals. I had a contract to see the Military Personnel from Camp Pendleton, and create interventions for PTSD and serious mental health challenges. I developed a Medication/ Treatment Alliance Program and still write articles pertaining to Serious Mental Health Challenges. All in all assisting people to become the best they can is my focus.
I-Deal-Lifestyle is a Self & Space Organizationsm service where I can assist people in getting it all "straight"nd out!
Orange County Professional Organizer helps you get your home, office, and business organized! We serve all of Orange County, Los Angeles, and San Diego. We also serve your area by special request.
Please call 949-709-7000 for a free 30 min. phone consultation.
Marla Stone Lifestyle Expert is featured in the Orange County Register as the clutter buster.
Marla Stone, Lifestyle Expert