After reading this title, you might be thinking:
“There’s already plenty of Real Estate gurus. I have no desire to do that.”
Let me explain.
You don’t need to make a ton of money or even a single dollar for this to be a worthwhile endeavor. Here’s the main goal:
Writing a book about your business is a way to look at your business introspectively and assess its strengths and weaknesses.
Investors tend to be a very busy group as most are balancing a full time job, an investing business, and spending time with family/friends. We tend to get bogged down and are simply reacting to whatever situations are thrown our way.
That’s why it’s important to assess the status of our business from time to time. This is one way to “work on your business instead of in it.”
What Do I Write About?
If you are looking for a guideline, here’s how I did it.
When writing my book, I broke it up into 7 main chapters:
- Acquisition Strategy
- Financing Strategy
- Sales Strategy
- Our Team
- Deal 1
- Deal 2
- Deal 3
The first 3 chapters show how we buy our homes, how we pay for our homes, and how we rent/sell our homes. In the “meat” of each chapter, I attempted to describe every detail about our business and explain it to someone that knew real estate investing but did not know anything about our particular business. The end of each chapter gave a few strategies that we should incorporate into our business.
The 4th chapter describes the team we have in place, both strengths and advantages of each member. The end of the chapter describes the members we would like to add in the near future.
The last 3 chapters reveal our first 3 deals and specifically the mistakes we made. This was difficult to write because you feel foolish describing all of your errors, but if you are 5+ deals in your business, you should see quite a bit of progress from the first deal to the most recent.
But I Hate to Write…
I can completely relate. I think I subconsciously chose my college major so that I wouldn’t have to write those long term papers.
But I will say that if you can just sit down and write a little each day, you will be impressed with your results.
Like I said before, you are the only one who needs to read it so don’t worry about trying to impress anyone.
I would consider my book a success (and definitely not because of the handful of sales). Here are just a few tasks we accomplished shortly after I wrote about them in the book:
- Converting our website from static HTML to Wordpress
- Transferring our Buyer’s List from Gmail to Mailchimp
- Adding an umbrella liability policy to cover our properties
- Adding a CPA to our team
- Adding an additional handyman/contractor to our team
These are all easily accomplishable tasks but for several months they had been sitting in my head and were overtaken by more urgent tasks.
What do you think? Did I persuade to write about your business?