Friday, September 26, 2008
Automating the real estate investing machine
So its already crystal clear to me why real estate investors need to automate their business as soon as humanly possible. It takes quite a bit of time to put up bandit signs, you play phone tag with sellers just to find out that they are a tire kicker or don't have a property worth purchasing, and you can get hand cramps writing out addresses on 25-50 letters each week. All of these activities are necessary BUT having others do them could focus us more on finding properties in the MLS, making offers, and getting deals ONLY. We'll have to get really smart about this sooner rather than later. Having someone answer the phones and do pre-screening will probably be the first thing we need to invest in. Once we solidify our first deal I think it will be easier to make these expenditures. I may sound discouraged, but I'm definitely not. Just thinking about how important it is to work smarter rather than harder. Truth is that my husband and I both work full time jobs and we have two young children so time is precious!
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2 comments:
Shan,
I'm so glad to hear you say this. Over the past couple of years, and especially after reading Tim Ferriss' "Four Hour Work Week", I have become resolute about outsourcing as much as possible.
We've all been raised with the work ethic of doing it all ourselves. But time is more precious than money. You can make more money, but the time we're given on this earth is always counting DOWN, not UP.
Let me know if I can help you brainstorm on things you can outsource, and where you can outsource them to.
Some ideas of the top:
www.guru.com
www.GetFriday.com
www.UltimateBuyingMachine.com
You all are DOING IT!
So many are resigned to the 9-to-5 life.
Others dream of an alternative, but don't act on it.
I'm very proud to see you guys out on the field, swinging the bat.
Your home run is just around the corner.
I ga-ron-tee-it!
B, thanks for the positive words and the tips for outsourcing. The only outsourcing I've done so far is have my daughter seal and put stamps on envelopes! LOL! But outsourcing the marketing will be key. We just need a little more cash to play with and then we'll be ready to do this.
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