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By Simon Volkov
Several options exist for writing a business plan free. The Internet is a great place to start, as is your local library. Both the Internet and public libraries offer books and resources to help real estate investors develop their business plan. Some online companies offer free versions of business plan software, while others charge a fee.
When writing a business plan free, seek out software and business books that focus on real estate. If possible, locate reference materials on various niches such as rentals, property management, commercial real estate, foreclosure homes or house flipping.
Most real estate business plan software offers templates that can be customized to suit your needs. Microsoft Word offers free business plan templates both within the software program and online. Business software can also be purchased through office supply and electronics stores.
Writing a business plan is essential for success. By taking time to construct a plan, you will be better able to see the “big” picture and determine what actions steps are required to achieve your goals.
Business plans can shine a light on areas which will require additional help. Few people can manage all aspects of running a business. Even if you plan on flying solo, you should have a team of people who can help with some aspects of the business. You might need to hire an accountant, marketing rep, web designer or virtual assistant.
Business plans are crucial if you plan to obtain financing through lenders or private investors. Few people are willing to loan money to business owners who don’t have a solid plan in place.
If you are uncertain of which direction to take your real estate business, using business planning software can help narrow down your choices. Some software contains preprogrammed questions about the types of investment opportunities that interest you. Answering these questions can help users determine if they should focus on rental properties, wholesaling, house flipping, or commercial investments.
When developing your plan it is important to remain focused on the needs of your business. For example, a startup company business plan will focus on different areas than a plan being used to expand an established business.
Developing a strong business plan requires time and patience. The average plan consists of between 20 and 30 pages of information, graphs and charts. It discusses major aspects of the business, key personnel, goals, action steps, and an exit strategy.
At minimum your real estate business plan should include an executive summary, company mission statement, details regarding the products or services offered, market analysis, strategy and implementation techniques, management team and financial projections.
Business plans are intended to be reviewed and updated on a regular basis. There is no point in creating a plan if you don’t refer to it. Review your plan at least every three months to determine where you are and what you need to do to stay on track. Taking time to write a business plan can be your ticket to success, so take time to do it right and refer to if often!
About the Author: Simon Volkov is a successful real estate investor, author and guest speaker. Simon shares insider-secrets about building a real estate investment business and discusses strategies for
writing a business plan
free via his website at