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Hub You - Attention Real Estate Developers - What Is In Your Business Plan?
Whether you are just thinking about, or you have decided that you would like to start running a wholesale business, there are a number of items that you should spend considerable time planning and researching before going full steam ahead. Proper planning and fact-finding up-front can not only save you from a lot of headaches in the beginning, but can also mean the difference between a successful wholesale business versus a monetary disaster waiting to happen.In this article we will provide you with ten tips to help guide you along the way as you begin planning for your business. They are presented in chronological order so that you can use them as a way to plan out the proper steps along the way. Remember, success depends on many factors – and the most important factor is your determination and energy you put into making your business a success!Step 1: Ask You
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size,
Promoting your website is getting more difficult these days. New marketing tactics come and go fast. They work for a while then quickly fade away. Just keeping up with the changes can be a full time job.Here's a proven way you can generate lots of traffic to your website ...one that hasn't faded away. In fact, it actually works better now than ever before - and you probably haven't even tried it.What is it? Go offline and promote your website with postcards.But, you say, "I'm an internet marketer, not a direct mail marketer." Right, and so are most of your competitors. That's why they don't market with postcards ...and why most of them are not likely to try postcards anytime soon.You won't have much competition. Maybe that's one of the reasons why postcards work so well for internet marketers.It Costs Less than You ThinkThe co
Most real estate developers make the mistake of not creating a good business plan or even getting professional assistance in developing their business plan. They will use the excuse of not having enough time or they can’t find the data. Don’t let that be your excuse! All a real estate development business plan really is, is the answers to a bunch of questions! You will learn what to include in your real estate development business plan.
Executive Summary
The Executive Summary should provide a complete overview of your project & company. This will include:
- Brief description of the overall project. For example, develop a 4 star, 250 room luxury hotel in downtown St. Louis, Missouri.
- Brief overview of the company – Is it a corporation, LLC, etc? Who are the owners and/or board members? Brief company history & experience level.
- Brief summary of the market & demand.How large is the market and at what stage of development is the market currently in?
- Brief summary of the competition and what separates you from them?
- Brief description of key Management team members.
- Key financials - total acquisition & construction costs, nature & use of funds, future revenue & expenses.
The Executive Summary should be brief and an outline to your overall business plan. Now lets take a look at the specifics in the real estate development business plan.
The Company
This part of the business plan should give full details about how and when the company was formed. It should indicate the legal structure of the company, as well as where it is licensed. A key piece of information about the company is the company owners. Name all of the principals and their percentage of ownership.
Project Description
This section of the plan is where you explain your project in detail. Remember, you are selling your project so that you can get the funding you need! Is this a hotel development project? Is this a luxury, single-family home community project? Is this a multi-tenant shopping center? Give all the details about the project. For instance, lets continue with our hotel example. You will want to name the other amenities that will be located at the hotel, such as swimming pool, tennis courts, the number of conference rooms, etc. How many of the rooms will be suites? What other features & benefits will your project have?
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size, c
Back in May last year I invested ?1000 in Premium Bonds. So far, I've won nothing and still have my ?1000 worth of bonds. My plan was to keep them for 12 months before re-assessing whether I should keep them or not. This article will discuss the advantages and disadvantages of Premium Bonds as an investment vehicle and conclude with my decision.How They Work Basically, the monthly interest earned on every Premimum Bond is lumped together to make the prize fund. Then, a prize draw takes place using a computer (ERNIE), which randomly picks the winners.The Details To be eligible to purchase Premium Bonds, you must be at least 16 years old and must invest at least ?100 (or ?50 via a regular standing order). Premium Bonds can be bought as a gift for a child under 16 by their parents and grandparents. T
Executive Summary
The Executive Summary should provide a complete overview of your project & company. This will include:
- Brief description of the overall project. For example, develop a 4 star, 250 room luxury hotel in downtown St. Louis, Missouri.
- Brief overview of the company – Is it a corporation, LLC, etc? Who are the owners and/or board members? Brief company history & experience level.
- Brief summary of the market & demand.How large is the market and at what stage of development is the market currently in?
- Brief summary of the competition and what separates you from them?
- Brief description of key Management team members.
- Key financials - total acquisition & construction costs, nature & use of funds, future revenue & expenses.
The Executive Summary should be brief and an outline to your overall business plan. Now lets take a look at the specifics in the real estate development business plan.
The Company
This part of the business plan should give full details about how and when the company was formed. It should indicate the legal structure of the company, as well as where it is licensed. A key piece of information about the company is the company owners. Name all of the principals and their percentage of ownership.
Project Description
This section of the plan is where you explain your project in detail. Remember, you are selling your project so that you can get the funding you need! Is this a hotel development project? Is this a luxury, single-family home community project? Is this a multi-tenant shopping center? Give all the details about the project. For instance, lets continue with our hotel example. You will want to name the other amenities that will be located at the hotel, such as swimming pool, tennis courts, the number of conference rooms, etc. How many of the rooms will be suites? What other features & benefits will your project have?
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size,
You already know that claiming more Federal tax deductions is the best way to lower your tax bill. What if I told you that Turbotax online software has a built-in tax deduction maximizer? This Federal tax deduction maximizer will find and determine which tax deductions are best for your situation.Here are just 5 Federal tax deductions the deduction maximizer can help you take full advantage of:If you own a home Instead of taking the standard deduction, let the deduction maximizer check to see if you could save money by itemizing. If the interest you paid on your mortgage is more than the standard deduction, you would be better off itemizing.State and local taxes Whether you own a home or not, itemizing can still save you lots of money. If you paid State or local taxes, the amount you paid is tax deductib
The Executive Summary should be brief and an outline to your overall business plan. Now lets take a look at the specifics in the real estate development business plan.
The Company
This part of the business plan should give full details about how and when the company was formed. It should indicate the legal structure of the company, as well as where it is licensed. A key piece of information about the company is the company owners. Name all of the principals and their percentage of ownership.
Project Description
This section of the plan is where you explain your project in detail. Remember, you are selling your project so that you can get the funding you need! Is this a hotel development project? Is this a luxury, single-family home community project? Is this a multi-tenant shopping center? Give all the details about the project. For instance, lets continue with our hotel example. You will want to name the other amenities that will be located at the hotel, such as swimming pool, tennis courts, the number of conference rooms, etc. How many of the rooms will be suites? What other features & benefits will your project have?
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size,
Every year, millions of dollars are taken from the Medicare program through deceptive practices. Medicare fraud hurts not only the program as a whole, but everyone who receives Medicare benefits. The quick guide below reveals how Medicare fraud takes place, why it affects you as an end beneficiary, and what you can do to help prevent it.What is Medicare Fraud?Medicare fraud occurs when false claims are made on behalf of a real beneficiary. For example, you visit a particular physician or medical clinic. They ask for your Medicare card and give you a certain amount that is due, but then bill Medicare for more than that amount. They pocket the difference. Another type of Medicare fraud is when someone bills Medicare for services or equipment that you never received or for items different from what you received. A dishonest individual might also use the Medi
This part of the business plan should give full details about how and when the company was formed. It should indicate the legal structure of the company, as well as where it is licensed. A key piece of information about the company is the company owners. Name all of the principals and their percentage of ownership.
Project Description
This section of the plan is where you explain your project in detail. Remember, you are selling your project so that you can get the funding you need! Is this a hotel development project? Is this a luxury, single-family home community project? Is this a multi-tenant shopping center? Give all the details about the project. For instance, lets continue with our hotel example. You will want to name the other amenities that will be located at the hotel, such as swimming pool, tennis courts, the number of conference rooms, etc. How many of the rooms will be suites? What other features & benefits will your project have?
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size,
The need to tell people about yourself may present itself during an informal conversation with a colleague, on the Little League field with a neighbor, on the phone with a past acquaintance, or in a face-to-face meeting for a job opportunity. "Tell me about yourself" is a favorite question that has befuddled many an unsuspecting candidate.Responses can range from strong to weak to irrelevant to fatal. Having a good response, grounded in your own philosophy, is as important as having a good serve in tennis. There are several different types of responses. Two that are very effective are the Specific Approach and the Overview Approach.The Specific Approach allows you to identify specific, relevant aspects of your background, while the second is more of a summary of your background.The Overview (or general) response is usually use
You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?
The Market
In this section you will provide the market type & size, current & potential growth rate, and relative stage of development of the area. You should also address why you chose this particular area. You should discuss any forthcoming changes in the market, government regulations, economy, and short-term & long-term trends. If you have performed any feasibility studies, you will want to include it as well as the source of the feasibility study.
The Marketing Plan
The main objective of any developer is to sell the homes, the stores or the hotel. And this can only be accomplished with a well thought out marketing plan. Who will handle your sales efforts? Will they be in-house or out-sourced? How will the pricing/leasing/room rate be determined? Will there be any brand or strategic partnerships involved? What is your marketing budget (in a table format).
The Competition
Any lender or investor in your project will want to feel comfortable that you know who your major competitors are. They will want to know that you have done a thorough competitive analysis. Name and describe all key competitors. What are their strengths & weaknesses? How will your project compare? What are your projects strengths & weaknesses?
The Management Team
In this section, you will want to go into further detail about the principals involved. You will need to highlight the team’s relevant experience and previous successful projects?
Well what if this is your first project?
Then you want to make sure that you have an excellent support team in place. These team members should have the experience that you are lacking (team members doesn’t necessarily mean company ownership). These team members can be legal, accounting, construction, architecture, etc. So for this section of the real estate development business plan, you will want to include:
- Resumes/biographies on all principals & management team members
- Organizational chart
- Board of Directors
The Financials
Since the primary objective of your business plan is to obtain financing, you will want to address what type of financing you are seeking and how much capital is needed. You will want to state how much money you have on hand (and where did you get it from) and how much money you have spent to date.
Everything that you have put into your real estate development business plan up to now should support your financial assumptions and projections. You will want to include a statement that shows a breakdown of construction and acquisition costs. You will want to include an Income statement that will outline income and expenses for the next five years after construction. It
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