When it comes to setting up a real investing business, it can be argued that you really don’t need much of anything to get started except for a phone number and an email address. To be honest, I really can’t argue with that statement because its true. However, that approach will only get you so far and if you have any real intention of growing a profitable investment portfolio and being seen as a legitimate player in your market, building a reputable business is a must. Whether you want to have a nationally recognized brand, or you just want to run a lean one-person team, you must start by pouring a solid foundation for your real estate flipping empire to be built upon.
I have analyzed hundreds of real estate flipping businesses, and the most successful organizations and investors all share a common thread; their companies are built around strong models and systems. Initially, I thought I was going to have to crack the Da Vinci Code of real estate investing in order to uncover any tangible takeaways I could use in my own business. As I did more research on these models and systems, what I found was that it was much simpler than I thought and you can actually start your business with only this one resource: Google.
A majority of the 6 figure real estate flippers I came across had some part of there business running on the Google platform, and just about 100% of them used one of the Google features for their business in some way. Being that I get so many people who ask me about how and where to get started when it comes to setting up their real estate flipping business, I mapped out a the 5 key tools you can use to start building your real estate investing business today. Success leaves clues, so don’t feel the need to reinvent the wheel. Instead, leverage what’s already working and implement it in a way that best compliments your goals.
Here are 5 Key Tools To Use When Setting Up Your Real Estate Investment Business:
Benefits of Using it: Google is one of the most well known email providers, and for great reason; it rocks! If you’re looking for a free option when setting up your REI business, you can create a new email address with the @gmail.com bumper in 5 minutes or less. If you want a more professional option that brands your company every time you send email correspondence (my preference), Gsuite allows you to create an @YourCompanyDomain.com email address. I like the branded option – for a minimal monthly fee – due to the fact that people may look up your site randomly and visit you just because they saw it in your email address. Not only is this a great way of driving bonus traffic to your site, when you’re dealing with vendors, leads, and other professionals it adds another layer of credibility to you and your business. Whether you choose the free option, or see the value in paying a small monthly fee, Google is extremely user friendly, has many plugin options that can increase your productivity, and integrates with many other valuable features that will serve your business as it grows.
How to Set it Up: If you are just starting out, and don’t want to spend the money, a basic gmail account will suffice. You can set yours up by following these basic instructions:
If you want to go the Gsuite route, which I feel is definitely worth the small monthly fee, follow the instructions on this page to get started. Google has made everything extremely easy and their tutorials are very user friendly to get you set up in no time.
2. Google Voice
Benefits of Using it: Google Voice is a great option for any investor, beginner or advanced, for a variety of reasons. Not only does it give you FREE calls to the US and Canada, I like it because of the level of privacy and security it provides for the user. For example, whoever you call –and who calls you back– will only see your Google phone number, not your actual personal telephone number. Also, it has many other slick features such as call forwarding which allows the phone to ring up to six personal telephones (great as you build a team), it transcribes voicemail’s that read like e-mail, you can record incoming calls (great for improving your scripts), you can block nuisance calls, it has ring schedules (allows you to dictate when certain callers can ring certain phones at certain times), and it even provides free conference calling with up to nine participants. If you want a more detailed explanation of the benefits Google Voice provides with a free account, this response majestically sums it up.
How to Set it Up: To set up your google voice account and select a number, just follow the instructions below and get started here.
Benefits of Using it: Running a successful real estate investing business heavily relies on running a successful calendar. The more organized your calendar is, the more efficient you can become as an investor. Google Calendar offers standards features like reminder for appointment or events, you can share it with anyone you desire, and it even synchronizes with just about every computer or electronic device you can think of. Being that I’m constantly out in the field previewing properties and networking, one of the features I like best is that you can access your calendar whether you have internet access or not. With offline access, you can view a read-only version of your calendar no matter where you are. I’m a big believer that if it’s not in your calendar it doesn’t exist, and by having a user friendly option like Google Calendar, you can stay streamlined and organized.
How to Set it Up: In order to create your new calendar, follow the steps below or click here for more extensive setup and sharing options to get the most out of this feature.
Benefits of Using it: Think of Google Drive as a protected vault (the cloud) that securely stores all your most precious resources and tools needed in your business. For example –in my Drive– I store things like business plans, marketing materials, legal contracts, before and after pictures, employee information, basically anything that has to do with my real estate investing business. Like all the other features offered by Google, Drive allows you to access your files remotely from the cloud, it has a great search features, and of course it’s free. What I love most about it is the app on my phone because I use it multiple times a day when I’m on the go. Whether I need to pull up a tracking spreadsheet or update a current project that I’m working on, the Drive app is great for keeping my business organized. I dive into some of the specific features I use within the drive below.
How to Set it Up:If you want to setup your Google Drive today, you can start here. Once your dialed in, if you want to take it one step further, here are 5 simple ways to organize your google drive.
Benefits of Using it: Tracking spreadsheets, word docs, and powerpoint presentations are vital resources every small business owner has. With GSuite, you have every tool needed for things like tracking your leads, creating marketing letters, building private lender packets and crafting seller presentations. What I love most about these apps is that everything created inside the platform is easily accessible, it automatically saves, and you can simultaneously collaborate with your team in real time on any projects. This is a big time saver that eliminates having to constantly send emails back and forth, overall increasing the productivity and efficiency in your business. Most importantly, you can rest assured that everything your building (all your data) is always backed up and protected, so there’s no need to worry about losing documents due to disasters or machine malfunctions.
How to Set it Up: Leveraging all of these amazing features in Google will serve you moving forward at a high level, so be sure to take a few moments and explore the different tutorials on best practice.
Decide. Implement. Action.
As Gordon Hinckley said, “You can’t build a great building on a weak foundation. You must have a solid foundation if you’re going to have a strong superstructure ”. The same applies to any successful business. As you build your real estate investing empire –whether you choose to use Google or not– just remember it all starts with a strong foundation. I personally use Google as the foundation for my flip business because of the reasons I listed above, and I like the flexibility it provides for me to grow as my business grows. Whichever options you choose, I hope this article served as a reminder that getting your real estate investing business up and running isn’t as complicated as we often make it. It can actually be as simple as running it off one platform like Google. If you have other resources or tools that you prefer better, or if I left any vital features off the list that you want to highlight, please comment and share them below.
Until next time, I’ll see you on the FLIPside!