If you’re serious about your career as a real estate investor, one of the first orders of business is establishing your real estate business name. As with any business you want to choose a namesake that’s representative of your professional aspirations, goals, and objectives.
Additionally, establishing an official company name or brand gives you a foundation to create a legal entity which offers protection from liabilities.
Getting Started On Selecting A Real Estate Business Name
Selecting a brand or company name can seem daunting, especially if this type of creative work isn’t your specialty. The good news is that this visionary work isn’t that difficult, either. All you need to do is some brainstorming!
You can start by answering some elementary questions about your operations. What values do you uphold? Do you focus on investing in a specific area or type of property? What makes your company different from others offering similar products or services? Are you managing rental units? By organizing essential data, you can start conceptualizing your brand name from the ground up.
Defining your company can help you elucidate your niche market. Your niche market could be a specific type of real estate, such as “fix and flip” homes, rental properties, property management, multi-unit acquisitions, commercial real estate, a target investment area, or following a specific REI strategy.
While there are no steadfast and set rules for selecting a brand name for your real estate investment company, here are a few tips and tricks for christening your company.
Be Selective In The Words You Choose – While using your name as part of your brand name can undoubtedly boost your ego, it is ill-advised. Other words or phrases that could potentially throttle business expansion and growth include terms like “investor.”
Should you decide to expand into other areas of business, take on partners, or sell the company at a later time, this flexibility in your business DNA affords you the ability to adjust to a changing business environment. You also should avoid using words that could potentially get misconstrued or have negative connotations.
Do Your Due Diligence – When researching potential brand names for your company, you’ll want to approach it with the same informed eye you use when buying properties. Typically, the ‘first draft’ of your business name isn’t going to be the final copy. To avoid costly mistakes, delays, and potential obstacles, it’s a wise idea to check for trademarks and copyrights to assure there are no potential legal conflicts.
Ideally, you should check for the availability of domain names, and social media profiles that align with your business name, allowing you to imbue your branding campaigns across these digital assets.
Envision Your Marketing Assets – Your brand name and any supporting branding asset build consistency in all aspects of company communications, including your business plan, company stationery, business cards, advertising, and marketing campaigns.
The most successful real estate investment companies understand the importance of consistency in branding efforts. An invariable branding effort increases company recognition and sets your company apart from competitors.
Your Brand Name Is Just The Beginning – Once you’ve set up your brand, this is just the beginning of your journey. A trendy name is favorable to draw attention, but the name alone isn’t enough to guarantee the success of your endeavors. You’ll want to assure that you’ve laid out a workable business plan that outlines the goals, objectives, and strategies to make it a profitable venture.
How Branding Pays You Back
By taking steps to register your real estate business name legally, you are protecting your company assets and affording the opportunity for growth. As an investor, the chances are good that you may rely wholly or in part on lenders to provide financing and funding for projects. By having a legal company name, you increase the chances that lenders – both traditional and non-traditional – will lend for projects.
We hope that you found this article helpful for branding your real estate investment company! If you are interested in learning more about becoming a professional real estate investor, be sure to check out our free REI training videos today!