Running Real Estate Like a Business, Not a Side Hustle

In this episode of Keys to Success, host Litra Simms discusses the importance of treating real estate investing as a business. Simms emphasizes the role of systems like tracking finances, setting rules, and scheduling maintenance to minimize stress and optimize results. She advocates for treating each property as a unit of production with a strong focus on cash flow and monthly performance reviews. Building a diverse team of accountants, contractors, and property managers to handle diverse tasks and foster growth is strongly recommended. Lastly, Simms presses on the need to operate with intention for enhanced predictability, stability, and growth. Throughout the discussion, tips for staying organized, setting clear goals, communication, and continuous learning are highlighted.