By Michael Ligon
There are numerous ways to create, develop, and begin a new real-estate business. While it may sound easy, creating a long-lasting profitable business is hard. According to data from the Bureau of Labor Statistics, as reported by Fundera, a staggering 70 percent of business eventually fail.
What can you do to ensure your real-estate business is not one of these statistics? Follow these three golden rules, and your real-estate investing business will have sustainability and longevity:
1. Always Start with the End in Mind
A good rule of thumb when beginning a business in real estate or creating any new business is to start with the end in mind. Ask yourself what your dream business looks like. It’s more than okay to have grandiose expectations—in fact, I recommend it. The most successful people always dream big. Visualize everything you want to accomplish. If you don’t fully understand the end goals, then you can’t create a detailed plan to achieve them….