How To Write A Business Plan For Your Property Business | UK Property Investment & Real Estate Tips
Articles,  Blog

How To Write A Business Plan For Your Property Business | UK Property Investment & Real Estate Tips


– If you want to learn
how to invest in property I personally think that
there’s 10 key skills you should really try to master. And skill number nine is to learn how to put together a
property-based business plan. Today, let me share with you seven tips that are gonna help you do exactly that. (light jazz music) Hi! My name’s Tony Law
from Your First Four Houses and I teach people how to put a small property portfolio, that generates a great income for them, so they can give up their
day job if they wish because they’re now financially free. If this your first time here, be sure to subscribe to the channel and click that bell notification icon so that you don’t miss out on any of the free content that I
give you each and every week. So whether you’re experienced
or just starting out I honestly believe that
you need to start to think about where you want to
be this time next year. Or maybe two years from now. Or maybe five years from now, or whatever. Because if you don’t have an idea of where you’re going, your kind of destination, if you will, well, you’re just never gonna get there. Without a plan you tend
to think short-term. And that’s why it’s so important to have a property-based business plan. This doesn’t have to be perfect. In fact, any plan is
better than no plan at all. But you do need to start. Can I suggest the time to start is today. Now there’s loads of videos out there on YouTube that will teach you lots of different strategies for putting together a business plan. And to be honest with you, many of those are better than I could produce for you. So I’m gonna put a couple of links in the description box below. Just search “business plan”, though, and you’ll come up with loads of different, really good links. But I do want to share the seven tips that I wish somebody had told me when I first put my
business plan together. Now the first of these is going to sound perhaps just a little bit silly. But you must write it down. Write down your business plan. There’s no good whatsoever
in keeping it in your head. All I would suggest is it’s not good to actually keep it on an app, or on a Word document locked away on your computer somewhere. So tip number one is to write it down. Tip number two is simply
to keep it simple. I think just one page is enough. Sure you can go into more depth than that, but you need to have just one simple page in my opinion, that clarifies exactly what your business plan is. Number three, start with a big vision right at the top of your business plan. And you want this to be a clear picture of where you see yourself
in 12 months’ time. If it is gonna be a
12-month-based business plan. And I personally think that’s
where you should start. And in fact, on that note, I want you to put a date on that business plan that is gonna be 12
months forward from today. So you’re gonna start
off with your big vision. Now I’m a realist and
I’m willing to accept that you may not completely
fulfil your big vision. But you do need a big,
shiny red target to hit. And that is your vision. Number four, you now need to break your big vision down
into different categories that you need to consider. So for example, one of the categories that might fall under your big vision is maybe lead generation or
how to finance your deals. Or what training do you need to get? Or maybe the networking meetings that you need to attend, et cetera. Lastly, within each of these categories you really need to list out the actions that you need to take
to fulfil that category. By the way, if you
finding this video helpful I would love it if you
could just take a moment, just click on that thumbs
up button down there. Really helps me if that’s okay. Tip number six is to read your business plan every single day. So I want you to put it
up on a wall somewhere. Maybe on your fridge,
maybe on your desktop so when you boot your computer up, it’s the first thing you see. Don’t forget this is only one page so you can read it every single day. Tip number seven, lastly, don’t be amend the categories
and the action sections of your business plan whenever you need, and as you evolve and as you learn more. But I would ask you to refrain from modifying your big vision. Because to be honest with you, that’s what drives you. There’s eight detailed video lessons in the My Next Steps module of my online property master class. And these really break down the whole process of business planning. So if you’d like to book
a 10 minute phone call with me to find out if this
online course might benefit you, simply click on the link here to book a time slot. (slow jazz music)

10 Comments

  • MrRobertomendola

    Hi Tony thanks for the advise. Do you think a HMO would work in a seaside town of a population of 52,100 ? I would like to do one in a city but not sure where. Do you source deals? Thanks Tony
    Best regards
    Roberto

  • Danils Nazarenko

    Hi Tony, how to buy first HMO if banks don't give money to inexperienced landlord however I work 4 years as a property manager of big house worth 15 million pounds.
    I think the only way is to open a limited partnership with someone who have B2L property more than one year. Is there the other way ?

  • downtown realtor

    I need a piece of advice ? As I am a realtor n do investment consultancy in Plots,Free hold properties ,Gated community projects and Offplan properties but at the moment I am so confused about my professional approach .I would be a master in offplan projects .What should I do ? Should I focused on one subject ? please I need guide line in terms of Business plan .
    Thanks Mr.Tony
    Regards,
    Sohail khan

Leave a Reply

Your email address will not be published. Required fields are marked *