Steer Clear of the Time Vampires as a Real Estate Investing Entrepreneur

October 19, 2009, 5:56 am

There are too many people that fail to achieve their real estate investing dreams. This article will share how to work smart, save time, and accomplish your goals by concentrating your energies on things you’re good at and delegating everything else to people better equipped to handle those aspects of your business.

A good starting point is for you to honestly assess your real estate investing strengths and your weaknesses. What are you truly good at and what do you enjoy doing? What are your weaknesses and what aspects of real estate investing cause you the most discomfort? Once you determine what these items are you can sit down and put together a business model that plays to your strengths and keeps you far away from those aspects of your day to day business that you’d just as soon avoid.

Let me give you a few examples to help you along. Let’s assume that you hate talking to people on the phone pre-qualifying them. You’re also not too thrilled with searching websites for available properties, handling your own banking details, managing your properties, making repairs, writing your own letters for direct marketing, or stuffing envelopes and mailing letters and postcards. At the same time you really enjoy meeting with homeowners face to face and discussing the different ways you can help them and putting together real estate investing partnerships.

Here are some ideas you can implement today to get those things you don’t like off your to-do list:

• Virtual assistants – You can hire virtual assistants to handle just about anything. They don’t need to work on-site; as a matter of fact you can get quality help from India for a fraction of what you’d expect to pay in the U.S. If you set up a simple system of having a virtual assistant go through all of the available foreclosures, a list could be waiting for you every morning in your inbox. Instead of taking an hour or two finding possible properties to look into, you could look at a list of properties that meet your criteria. Then all you would have to do is look at your list and call about the most promising properties. Go to eLance.com, sign up for a free membership, post your project, choose the provider you like, and pay them when you’re satisfied with their work. There’s no long-term commitment and you’re not on the hook for benefits, vacations, or sick time. Plus, they work cheap in India – some for as little as a few bucks an hour.

• Property Management – If the idea of managing your own properties makes you see double, hire a property management company to handle the day to day details of renting your properties, rent collection, evictions, or repairs. Just make sure the rates are reasonable and if you figure property management expenses into your cash flow analysis your tenants can essentially pay the fees you’ll pay for the service.

• Outsource Your Real Estate Investing Marketing Projects – If you have a website and don’t have a clue what to put on the site to get people interested in doing business with you or you need an article or a series of articles written to promote your real estate investing business, you can outsource these projects as well. You can outsource your mailing projects, bandit sign projects and anything else you can think of marketing wise, too.

There are lots of things you may not want to do in your real estate investing business. The good news is there is no shortage of talented professionals waiting to do your bidding. The key to your success is developing a series of systems to cut down on your workload and free up your time and energy for those aspects of real estate investing that really trip your trigger.

Think things through, develop easy to follow real estate investing systems, and put your real estate investing business on autopilot. You’ll be a happier, more profitable investor. Your time will be yours to pursue more profitable deals, and you’ll have more free time for the people you love. You became a real estate investor for financial reasons and for the time freedom that it makes available. Be smart – let other people’s efforts free you to reap all the rewards that real estate investing places at your fingertips.

I did not write this article but I thought that you might find it interesting and of value.

Sean Flanagan went from dead broke, living off Ramen Noodles and selling used pallets from the roadside for $20 a day, to a self made real estate multimillionaire in under 2 years time. He now shares his secrets with thousands of students across the country.
He has a FREE audio course titled 7 Secrets to Making Big Bucks in a Slow Real Estate Market which you can get right now by quickly visiting <a href="http://www.Yuckyhousetraining.com.” rel=”nofollow”>http://www.Yuckyhousetraining.com. He also gives away a coaching program for new real estate investors where he offers a risk free trial to prove to new real estate investors how much money they can make with his program at <a href="http://www.Yuckyhousetraining.com.” rel=”nofollow”>http://www.Yuckyhousetraining.com.
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