Evolving Your Real Estate Business

Glenn and Amber Schworm, founders of the Home Flipping Workshop, know what it takes to evolve a real estate investment business.  

Check out Glenn’s new video titled, Evolving as a Real Estate Investor, and gain helpful insights about taking your business to the next level. 

One fundamental criterion responsible for the evolution of a real estate investment business is you as the business owner.

Growing your real estate investment business is about growing yourself. You must develop your skills as a savvy investor and learn to manage others. Based on Glenn Schworm, it comes down to you.

Get Adept at the Secrets of Real Estate Investment Strategies

One of the first things you must do as a real estate investor is become extremely skilled and proficient at the many real estate strategies.

You must know which lever to pull to seal a deal: getting houses under contract is the most significant step.   

A savvy real estate investor knows what it will take to renovate houses. Proper training and experience will equip you with the ability to quickly create a repair estimate while allocating funds for unknown costs. 

Then, understanding which real estate investment strategy to use is crucial. There may be more than one that you’ll be able to apply, but the savvy investor uses the best approach each time.

These strategies may include:

  • Using subject-to financing
  • Settling tax liens to acquire the deed
  • Partnering with the homeowner to retain existing financing while you renovate
  • Pulling a home out of foreclosure and acquiring the deed; possibly wrap financing if necessary
  • Wholesale the home
  • Flip the contract
  • Central to all of this is buying the right house the correct way. That means you pay well under market value for the home, leaving sufficient financial room for profit.

    Your purchasing decision can benefit all parties involved in the deal. 

    What predicates your development as an investor is your mastery of these purchasing strategies and so much more. There is no “one-size-fits-all” approach in real estate investment. You must know what is best for that property and what is most profitable.

    Becoming A Business Manager

    Once you’ve mastered real estate strategy and implementation, you need to start building a team.  The team of individuals you will initially need are:

    1. Office Manager – Someone to manage the phone, your schedule, coordinate meetings, process financial transactions, get critical information to accounting, and ensure all paperwork is at the title.
    2. General Contractor – This person oversees the agreed-upon scope of work. They ensure all subcontractors are paid weekly and achieve critical milestones. This person is also essential at the point of contracting, as they will undoubtedly see those things hidden from you. They are objective.
    3. Build a Sales Team– A group of people who can find off-market deals.

    As the visionary, you can best optimize your time by seeking to find new deals. As a result, you must become a teacher and a manager of those who will run the daily operation. 

    As a teacher, you train others how to find off-market deals. It is a highly specialized skill that requires both information and intuitiveness. 

    Afterward, you’ll be able to become the manager of your team.  

    You should know how to perform every task and responsibility you assign to your team. Also, constant communication with your general contractors is critical. 

    Communicating with your team will keep you keenly aware of every project. 

    As the owner, you manage every aspect of your team, from salespeople finding new deals to general contractors.  

    Evolving your business is about growing as a manager and equipping your business with the right resources and people to cause your real estate investment business to thrive.

    What is the Next Step in Expanding Your Business?

    No business grows in and of itself; a company does not have a brain. It is an entity.  

    It is your responsibility to breathe life into your business. As a result, your business will expand as you evolve.

    Many great adventures start with humble beginnings, but it is important to get started doing things on a larger scale, and there’s a way to do it correctly.

    Join Glenn and Amber Schworm at their upcoming Home Flipping Workshop.  

    You will learn what it means to become a real estate investor and so much more. You will know where to start and how to continue. During this 3-day course, nothing is left to chance.  

    We look forward to hosting you at our upcoming virtual Home Flipping Workshop