Many investors wonder how to scale and grow a real estate portfolio. Even if you are just getting started, these three important tips will help plan your growth.

1. Know your numbers and work with a budget. What does this mean?
· Honestly review your properties, identify needed future capital improvements and build these costs into your budget.
· Are you getting the most money possible from your investments? If not, then shore up the holes – quickly.
· Make sure you budget for incidentals, such as maintenance issues – including appliance breakdowns, possible tax increases, etc.
· Stay current with inflation rates and market rents. And don’t be afraid to raise rents as you make improvements or as the market changes.
· Make use of all available programs and tax incentives, such as energy grants for windows, or cost segregation.
· Check out implications of the recent tax revisions; there’s a new way to take depreciation.

2. Always perform above your competition. It often doesn’t take much to over-deliver to customers or co-workers. Some ideas….
· Give tenants/vendors small gift cards for the holidays
· Quickly respond to phone calls, texts, emails
· When asked to fix something for a tenant, fix it right…not just a band aid approach
· Beat a deadline on repairs or project completion

3. Think about your mindset…take a new look at possible opportunities and open your mind
to:
· Wholesale deals
· Optimize the value of property you already have
· Re-evaluate the RIGHT time to sell
· Be willing to cut your losses…get rid of the losers and find the winners

Good tips for anyone interested in investing in real estate!