Accelerating and expanding your real estate business doesn't happen overnight. You really have to dig in and learn the ins and outs of the industry and the systems that work best for your strategy. Ken Van Liew is a New York City-based real estate investor who has some really great advice for growing and maintaining your REI business.
His best advice for those who are just starting their real estate journey and want to grow their business quickly is micro-development. Micro-development is top-down thinking where you break down all the small processes that lead to bigger developments. Sort of like layers in a cake or Lego pieces. In residential real estate, every renovation, every fix and flip you do leads to a bigger development. It’s a stacking process of building one house at a time that becomes a cycle – much like how Ken built skyscrapers on Wall Street.
Real estate developments can seem overwhelming. They’re big, even huge at times, especially when you’re a newbie. Most of the investors I’ve spoken to who are just starting out struggle with being distracted by the size of the project and can’t focus on the task at hand. That’s why it’s important to look at your project from a micro-development point of view. This will allow you to break out your project into many bite-sized, achievable goals or milestones. When you get proficient at micro-development, you can then start to apply strategies that make managing your project more efficient; things like time blocking, having the right mindset, and maintaining good relationships. Eventually, the development process becomes a manageable & predictable cycle. The project that used to be overwhelming now becomes routine, making you more successful.
There’s no shortcut to getting to your first big paycheck. It will take time and effort, and probably some failures along the way. Nonetheless, if you apply Ken’s micro-development strategies to how you approach your next project you’ll be able to manage projects better and more efficiently.
What's Inside:
- How Ken went from building skyscrapers in New York city to making it big in the residential real estate market.
- Why micro-development is Ken’s biggest suggestion to real estate development newcomers.
- Ken talks about the top-down systems from Wall Street that can accelerate your real estate business.
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