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Operations Handbook for Your Real Estate Business

In our previous Atlanta Mastermind conference, our main subject matter centered on building an operations handbook for our real estate business enterprise like the a person explained in the book “The E-Fantasy” by Michael Gerber. I know the initially dilemma you may be asking is “How in the heck can an Operations Handbook aid me in Real Estate”?

An operations handbook is a strategy of producing down almost everything you do in your business enterprise in purchase to define how your business enterprise operates. This is beneficial in that finally you can delegate responsibilities to other business enterprise associates and they have a handbook to go by. The aim of the handbook is to streamline your real estate business enterprise methods and delegate to some others so that you can transfer on to get the job done on greater issues (consider of a business enterprise model like McDonald&#39s hamburgers and Domino&#39s Pizza). This strategy will aid you to absolutely free up responsibilities that you are not very good at (or do not want to do) and raise profitability as you go out to glance for new real estate specials. No make a difference how hectic you are, this is a person job that will considerably increase your business enterprise manufacturing.

Below are the general steps we talked about in our mastermind conference, to set up an operations handbook for our firms.

Move one: Write down all the matters you do in your real estate business enterprise.
one. Respond to cell phone phone calls from potential tenants
2. Coordinate repairs
3. Search for potential real estate specials
four. Accumulate hire checks
five. Coordinate evictions
six. Spend expenditures
seven. Generate all-around and examine on homes
Place classified advertisements 8. on Http://www.craigslist.com/ and : other publications
9. Demonstrate flats to probable tenants.

Move 2: Break the checklist down into distinct categories.
one. Marketing and advertising
2. Property Administration
3. Repairs
four. Accounting
five. Legal-Evictions
six. Obtain Specials

Move 3: Every single of those categories receives its own web site, and your occupation is to duplicate all of the routines from Move one below the correct classification headings.
one. Marketing and advertising: purchase and set our “For Hire” indicators, enter listing into Craigslist.com, answer cell phone phone calls to probable renters and give data, show flats.
2. Property management: inspect flats, examine on the latest repairs, etcetera.
3. Repeat

Move four: Set the webpages into a 3 ring binder with tabs for just about every classification and a table of contents. This will be your new Operations Handbook.

Move five: Future go to the initially tab and for just about every product below it develop a new web site with that “Motion” as a heading.
one. Marketing and advertising
2. Property Administration
3. Repairs
four. Accounting
five. Legal-Evictions
six. Obtain Specials

Move six: Now, take just about every “ action” web site and depth specifically how you want just about every product done.
one. Marketing and advertising: purchase and set our “For Hire” indicators, enter listing into Craigslist.com, answer cell phone phone calls to probable renters and give data, show flats.
2. Repeat

Move seven: Add any sorts, facts , cell phone dialogues, or checklist that you may have to complete just about every action product.
The Operations Handbook is a person of the core setting up blocks for a support and training foundation as you establish your business enterprise, and delegate responsibilities and authority to those that get the job done with you. As your business enterprise grows and you employ much more staff members (or digital assistant or sub-contractors), you will have an Operations Handbook to allow them know clearly how you do business enterprise and what is anticipated to get the occupation done.