Think Realty: Resources for savvy real estate investors

Guides for running the business.

Practical help with entities, banking, taxes, contractors and operations for owners and operators in any industry.

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How to Start a Service Business From Scratch

Roofing, cleaning, HVAC, detailing, bookkeeping, landscaping: the work changes, the first year does not. Here is the order that keeps new owners out of trouble.

Read the guide, 9 min

Start and set up

Launch the business and put the pieces in place.

  1. How to Start a Service Business From Scratch9 minHow to start a service business in any trade: pick the work, set up the entity and bank account, price the first jobs, get insured and get your first ten customers.
  2. How to Start a Real Estate Investing Business9 minA plain-spoken guide to starting a real estate investing business: entity, EIN, bank account, insurance, systems, and what to do in your first 90 days.
  3. LLCs for Real Estate Investors: What to Know7 minWhat an LLC does and does not do for real estate investors, how state rules vary, and the real debate over one entity per deal versus a holding company.

Price, sell and get paid

Quotes that protect your margin and invoices that get paid.

  1. Pricing and Quoting Your Work8 minHow to price services and write quotes that protect your margin: know your real cost, build the number, put scope in writing and handle change orders without a fight.
  2. Getting Paid on Time8 minHow owners in any industry get paid on time: deposits, milestone payments, clear invoices, payment terms, polite follow-up and when to stop work or send a final notice.

Get found

Show up when people nearby search for what you sell.

  1. Get Found on Google: Local Business Basics8 minThe local search basics for any business: a complete Google Business Profile, reviews, a clear website with a page for each service and area, and consistent listings.

Hire and build

Pick the people who do the work.

  1. Hiring Your First Employee or Subcontractor8 minEmployee or subcontractor? How to think about your first hire in any industry: what each costs, the risk of misclassifying workers, onboarding and keeping good people.
  2. How to Vet a Contractor for a Flip8 minHow to check a contractor before a flip: license, insurance, references, written scope, draw schedule, lien waivers, and the red flags worth walking from.

Money, tax and risk

Banking, numbers, tax and insurance for operators.

  1. Read Your Numbers: Profit, Cash and Seasonal Swings9 minHow owners in any industry can read a profit and loss statement, tell profit from cash, plan for seasonal swings and know which numbers to check every week.
  2. Business Insurance for Small Businesses and Trades8 minThe coverage owners in any industry should ask about: general liability, property, vehicles, workers’ compensation, professional liability and how to work with an agent.
  3. Business Banking for Real Estate Investors7 minHow investors should set up bank accounts: separate business and personal money, deal accounts, reserves, lender relationships, and clean bookkeeping habits.
  4. Tax Basics for Flippers and Landlords8 minEducational overview of taxes for flippers and landlords: dealer versus investor status, entity taxation, depreciation, and records. Confirm with a CPA.

By industry

Guides written for specific kinds of business.

  1. Maintenance Plans for Home Service Companies8 minHow home service companies build recurring revenue: design a maintenance plan, price it, sell it at the end of a job, schedule the visits and keep members for years.
  2. Running a Restaurant or Food Business by the Numbers8 minThe numbers a restaurant or food business owner should check each week: food cost, labor, prime cost, menu pricing, waste and how to keep cash safe through slow seasons.
  3. Client Intake and Referrals for Professional Practices8 minHow attorneys, accountants, agents, clinics and consultants can turn inquiries into clients: a clear first response, a simple intake, honest scoping and a referral habit.
  4. Quoting and Lead Times for Manufacturers and Suppliers8 minHow small manufacturers, fabricators and suppliers quote accurately, state lead times that hold, handle material price swings and keep buyers coming back.

Grow, buy and hold

Buy a business or run what you own.

  1. Buying a Small Business: What to Check First9 minWhat to examine before you buy an existing small business in any industry: the books, the customers, the owner’s role, the lease, the staff and the price you can justify.
  2. Choosing Property Management: Self-Manage or Hire8 minShould you manage your own rentals or hire a pro? Typical costs, what good managers actually do, questions to ask before signing, and when to make a switch.

More from the library

Beyond these guides: articles on running the company, courses from our Resident Experts, event recordings and the podcast.

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