| The importance of effective Strategic Real Estate | | | | an effective real estate plan requires getting all |
| Planning in driving a company's ability to maximize | | | | the available information you need in putting the |
| profitability and minimize risk is often woefully | | | | business together. It prevents the investor from |
| underestimated and overlooked by business | | | | making irreparable mistakes. |
| executives; that is until it is too late! A company's | | | | For all real estate professionals and real estate |
| real estate assets, liabilities and decision making | | | | buyers, a quick review of a city's general plan, will |
| WILL, on varying scales, either enhance or | | | | provide a wealth of information. California state |
| compromise its overall success. | | | | law requires that all incorporated cities and |
| SHIRLEY and NEIL decided to buy a duplex using | | | | counties adopt "a comprehensive, long-term |
| their self directed IRA real estate plan, so they | | | | general plan for [its] physical development." In |
| instructed their IRA custodial manager to buy the | | | | simple terms, a general plan becomes the |
| duplexes jointly using both of their IRAs to | | | | blueprint for the future growth of a community |
| borrow 60% of the purchase price from a | | | | and the guide for the city planning department. |
| national non recourse lender. The units were fully | | | | If there's one thing I think many people can |
| rented and the net operating income was enough | | | | attest to, it's that plans often change. Throughout |
| to make the mortgage payments each month. | | | | many of the online real estate forums, many |
| About six months after buying the units a fire | | | | people, including yours truly, have in one way or |
| started in one of the kitchens and smoke damage | | | | another, written down their plan of action! People |
| meant both unit were made uninhabitable, until the | | | | do this to get other peoples reaction and approval. |
| damage had been repaired and the units cleaned | | | | With any approval comes a sense of comfort and |
| up. | | | | belonging. The problem is, most "plans" that people |
| Shirley and Neil are married and they both have | | | | write down or post in forums, are simply…well, |
| IRAs, They decided to buy a rental property | | | | not good. |
| jointly using both of their IRAs. They directed | | | | Where can one find a good, solid real estate |
| their IRA custodian to buy the house for an | | | | investing business plan that works as good as it |
| undivided 50% interest for each IRA. They were | | | | says it does today? For years, it seems that |
| happy with the price they paid and they knew | | | | everyone and his brother has offered the be-all |
| the property would grow in value in the area they | | | | end-all miracle real estate investing business plan |
| had bought in. | | | | to make even the most poorest of the everyday |
| Writing an effective real estate business plan helps | | | | "average Joe" become an overnight millionaire. Are |
| the investor to strategically plan for the different | | | | any of us out there millionaires from using even |
| aspects of the business. It helps him to think | | | | one real estate investing business plan yet? |
| about the business and get to know it fully.Writing | | | | |