Are you finally ready to venture out and begin investing in real estate? You undoubtedly have many questions that need answering. But what’s most pressing on your mind is whether or not you need a support staff and/or a large office to get your company up and running and off the ground.
To help you determine whether or not this is a necessity, we will share our thoughts and feelings on this topic below. Please pay close attention and use this information to decide if a support staff and a big office is an absolute necessity or not.
Do I Need a Big Office (Or Any Office for That Matter) for My Real Estate Business?
Simply put, if you’re really serious about investing in real estate you can do it from anywhere in the world. And you can do it from any place you desire to start your company. You do not need to have a large office, a small office, or any office for that matter.
Many people have no choice but to bootstrap their brand-new business when first starting out. You may hold all of your meetings in your kitchen, living room, or dining room in the very beginning. Just having a place to meet with the people involved in your investing business is more than enough.
And when it comes to meeting with potential investors and other clients, take them out to lunch, dinner, for coffee or drinks, or anywhere else besides your nonexistent office. This way you’ll have a great place to meet them and hammer out the details of your deal without having to bring them to an office that doesn’t exist.
Lastly, if it’s absolutely necessary to meet someone in an office, you can always rent co-working space for the day. In most cases, the co-working space will allow you to access a conference room that you can use for your upcoming meeting.
Do I Need to Have a Support Staff When Starting My Real Estate Investing Business?
This one is a little tricky because it comes down to your personal preferences, your finances, and how much you’re willing to spend to get your business off the ground. You see, having a support staff is definitely a good idea because you’re going to need help in some areas of the business.
On the other hand, you may not have the funds or the ability to pay employees right now. So you can technically start your real estate investing business without a support staff. Just make sure you have enough time in your schedule to do everything that needs to get done for your real estate business in the beginning.
And then after you start making some money you can begin adding support staff as needed. But ultimately you can get by without any staff members whatsoever as long as you’re willing to rise and grind and do the work yourself at the start.
As you can see, having a large office and support staff isn’t 100% necessary when first starting out. But if you’re capable of having these things in the beginning, they certainly won’t hurt your credibility and your ability to get things done faster because you have people helping you. So weigh your options, look at your situation, and decide if an office and support staff is needed when starting out and go from there.