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You may have gotten this far in the real estate business, as you learned investing and the common issues that come up in each stage of the purchase, rehab, and sale. But what you may not know is that you could be doing exponentially better than you are now, with simple changes to how you are doing things.
Time = $
This is the only algebraic equation you need to learn. Time equals money. This is not a linear problem, but a dynamic
one. There are 24 hours to the day, 5 business days in a week or 7 days in a week, 28-31 days in a month. You are only one person. Do the math.
Leverage is a word thrown around in our business, but it isn’t looked upon as something that goes beyond the definition of money source or terms. It should be however. The truth is that leverage can be had in every aspect of your life.
Let’s have a look at my regular tasks as a wholesaler. Keep in mind that I have multiple businesses, and real estate is only one of them. Even then, it is broken up into buy/hold, flipping, and wholesaling. Some I do more than others. Back to topic…
- Check mail – Often, I do this before I even get my coffee (or Mountain Dew depending on how grizzly I’m feeling that day). When I say mail, I mean hundreds of emails flowing into multiple email addresses, on multiple domains for various businesses and lead generating websites.
- Place ads in Craigslist, Backpage, EbayClassifieds, and other classified websites. – This better not be your only strategy for creating and selling contracts, nor should it be your only place to gather your buyer’s list.
- Promote on Facebook Groups – This may be a property in an area where I don’t have a strong buyer presence, or it could be hunting for motivated sellers. Maybe I am just building up my buyer’s list in the newsletter because I am a resource hoarder, and like to unload contracts to reliable buyers very quickly.
- Design ads – I am always testing out new ads, with new messages and graphics. As an internet marketer in the game since the age of 13, it is a habit to always be creating creative, and getting that creative into the faces of my peers, and sellers alike.
This is in no way a complete list. It is cut severely short. In addition, I attend online bachelors classes for computer science as well as criminal justice. This is not for the degree really, as I have no need for either career. Rather, it is for my personal achievement, and satisfaction. In other words, it’s just something I want to do.
To keep myself from being burnt out, which is still hard to do, I can make these tasks easier to perform.
The best bet is to get assistants. Leverage is the keyword if you are broke and looking for an excuse to give up because I said you need assistants. Leverage is something you can create at any given time, simply by using that gift you have on your shoulders called a brain. Come up with ideas to get past the thing causing you anxiety.
One method I use is to find locals in a market that I discovered is hot. I teach them. They learn by doing. They earn as I earn. It’s very simple. Hungry new investors are looking to enter the game on a daily basis. Unfortunately for them, they have to overcome everything you have, and you know how much work and time that will take to accomplish.
My assistant will be a grunt person, learning the daily necessaries for wholesaling. They will be my boots on the ground, going to the county clerk’s office to get a list of cash buyers in the area. They will reach out to title companies and get cash buyer lists. They will network with local investor friendly agents to establish my company name in the
area. They will post and gather my bandit signs. In the end, they will be the one dedicated assistant that gets paid for every deal closing in that area. Depending on that area, the earnings can be hefty per deal.
I can have a virtual assistant working on the cheap, or with another arrangement based on a percentage of my deals.
They can do my daily classified ads posting, and hit up all of the groups with my ‘ready to assign’ contracts. To make their job easier, the ads will be provided in a text file to copy and paste. Images will be provided. Each ad could be organized in separate folders. The possibilities for productivity are endless, and your business can be snowballing towards a massive expansion.
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