Review Section 1.6 in the textbook starting at Page 15. This will provide you w
Review Section 1.6 in the textbook starting at Page 15. This will provide you with a sample 4 week business plan. For this assignment you will need to create your own 4 week plan. The starting point for this plan will be after you have obtained your license and have been employed by a Broker. Review the goals you set for yourself at the beginning of the course. This was your homework assignment from Week 1. Make sure to tie your goals to your business plan. In your business plan be as specific and comprehensive as you can. You should have at least 10 items for each week. Also consider week 4 as including all the ongoing weekly activities you will continue in your career as your normal scheduled items to do each week. Format the plan in an easy to follow format that you can easily view and track each week like a check-list. Please upload a pdf or word document to complete the assignment. Use this as reference for my business plan Short term: My short-term goal is to get all the knowledge that I need to succeed into real estate. Also get a basic certification after three months. Within that time period i’d also like to get exposure during open houses and get more experience within the field. Medium term: My medium term goals are to continue learning but understand the majority of things within the field. It would also be nice to have multiple useful connections with real estate brokers/agents with open opportunities. Also having smart tactics and skills that are useful for this branch in order to greatly benefit from the opportunities handed to me. Long term: Long term goals for this field would be to know the best places to open the business of my dream. Which is to open my own dermatology company. I’d also like to have a decent amount of customers and do well for myself both in real estate and my schooling for dermatology. Second assignment: For this assignment, I want you to come up with a value for a property.  Choose a property and provide the following: Address Type of Property (Condo, Single Family, Duplex, etc) Number of Bedrooms and Bathrooms Living Square Footage Lot Size. Find 3 Comparable properties that have sold in the last 6 months and tell me what you think the value of the property should be and why you came to that conclusion. Third assignment: This week we discussed financing.  There are many different options types of financing available when buying real estate.  One of the main distinctions are Fixed Rate and Adjustable Rate Mortgages.  These are reviewed in your textbook starting at page 203.    Here is a link to a short Video that describes the two types as well: Sorry for some reason that video got switched to private.  Here is another detailed one that is also a good explanation of the 2 types of mortgages: For this assignment, I want you to discuss why you or a future client may choose one over the other and your general thoughts about the value of each. Second, I want you to look up interest rates for each type of loan and tell me what you find.  Name the Bank or Website you found it on and what the interest rate for a Fixed-interest loan is and what the interest rate for the same term adjustable rate. Fourth assignment: Building Your Sphere of Influence Database As we discussed in week 5 for Chapters 5 & 6, prospecting for clients is a key to a sustained business.  Your Sphere of Influence (SOI) is a crucial building block for this database.  Your SOI includes the following: People you know Those you’ve worked with From your old neighborhood Business associates Barber/hairdresser Your holiday card list Clubs you are a part of (Rotary, Lions, Elks Lodge, etc) Close friends and family Co-workers For this assignment I want you to compile a list of everyone you can think of that meets this category.  You can use excel, your google contacts, constant contact, or any other place where you can electronically store contact information.  Do not use paper as this will make it hard to use in the future.  Think about ways to categorize your contacts.  You can have information like how you know them, do they own property, etc.  Look at the A,B,C,D in section 5.11 of text book.  Once you have your initial list, continue to build and expand it for your whole career.  You will be way ahead of the game by starting today! For the homework, write 2 paragraphs of 3-5 sentences each.  1st Paragraph tell me how many names you were able to compile, what information you are including in the database, what information you are missing that you would like to have.  2nd paragraph based on the lecture, the textbook and your own thoughts, how you think you can use this database to start your real estate business once you get licensed.  Also how you plan on expanding your list.

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