Real Estate Startups: What You Need to Know
There are some critical questions every aspiring real estate investor, agent and entrepreneur must ask themselves before considering real estate startups.
Real estate startups have never had it easier, but unless several questions are answered, the sailing may not be as smooth as expected. For some, the answers will come easy, but others will find the questions harder to answer. However, they do need to be addressed and will determine the level, speed, longevity and success one has in the real estate industry.
It doesn’t matter whether you are plotting a career as a real estate agent, launching a real estate investing business or have a cool idea for a tech application to serve those in the industry; take the time to ask and answer these questions before you look into real estate startups.
Why are you choosing to get into real estate? Is it something that you are really passionate about in addition to having amazing income potential? What part of real estate are you really most drawn by, what else do you really love doing and how can you combine it all? This is what will keep you going and winning.
2. What are my talents?
What are you really good at, or not? Are you an inspired entrepreneur that is good at sales, do you have strong technical skills, or do you really excel at organizing and administrating? How can you structure your real estate startups to account for these strengths and weaknesses? For example; avoiding building a company that relies on you doing in person sales if you are an introvert and won’t stick with it, or recognize that you’ll need a bookkeeper form day one because you won’t apply yourself to the books.
3. What’s my USP?
What’s your unique selling proposition? What will make you different and stand out from the crowd? How profitable will your work setup be?
4. Where can I gain what I lack?
No single real estate agent, investor or tech entrepreneur is great at everything or knows everything. So where can you find out what you don’t know and who can be leverages to fill in the gaps? What real estate education courses might be of value, what systems can you pick up and adopt and what coaches could help to fast track your launch and make your real estate startups a winner?