Meeting With Sellers and Buyers Takes Time
It may be becoming increasingly difficult to effectively manage your time in the hectic world of real estate investing. You may not have enough hours in the day to finish all the things on your agenda. Perhaps you just need better time management assistance. Start using the tips below to maximize your day.
Set Realistic Goals that You Can Reach
We’re all very busy. We all have long to-do lists that fill up faster than we can cross off the most urgent tasks. However studies have shown that there are things that the top successful people do everyday that makes them different, than everyone else.
While it may seem like a simple idea to work hard at getting what you want, often it is hard to keep focused on what you are really after. Especially if you have not pin pointed exactly what outcomes you desire.
Many real estate investors when asked what their goals are, they say, “I want to make $10,000 a month,” or “I want to do 6 deals in the next six months.” Setting goals is great, but the secret to just setting goals and reaching your goals is being specific about the outcome that you want.
For instance if your goal is to do 6 deals in the next 6 months you know that you have to do a deal a month at least. You also need to break down the steps that will get you from day 1 to selling your sixth deal.
Make sure that you set realistic objectives based on your long-term goals. You should not set a goal to buy ten houses in the span of a month if you only have a hundred thousand dollars to your name. Set reasonable expectations to avoid setbacks.
The Truth About Multitasking
Multitasking is popular, however many are now finding that it allows consist interruptions in your work. While many are sold on the idea of getting more done while multitasking the truth is many people do not accomplish much while trying to multitask. Doing too much at once can frustrate and exhaust you and reduce the quality of work you do.
- Keep similar types of work together in time sections. For instance if you have to make 10 calls, place all of your calls back to back and finish that task before you start another.
Successful People Focus On One Project At A Time
Step back and look at how you are managing your time, and what is not working for you. You must figure out why and analyze what is working and what is not.
When you’re busy working on a project or meeting with a client, ignore everything else. Interruptions can make it hard to refocus once these things interrupt you.
Take a close look at what your everyday routine is like. Are there activities you can cut from your schedule? Are there things that you can get others to do in order to free some time? Learning to delegate is important for real time management. This will allow you to focus your time on something else.
Find A Time Management System That Works For You
It has been our experience that one of the best ways to track our time is in a simple Excel document. We find that it is important to track the type of project, the outcome we desire, the deadline as well as the amount of time it took to complete it.
Calendars can be your friend when it comes to time management skills. You may prefer to use the standard paper planner or calendar which you can mark on and keep notes.
Calling All Computer Geeks
Other people enjoy using an electronic calendar that they can use with a computer or their phones.
No Matter the System, Use What Works Best For You
- Keep your appointments and deadlines in mind at all times.
- If you keep your projects in focus and allocate your time wisely you will not miss appointments with your sellers or neglect important projects.
- Plan for interruptions. A buyer may want to see the house at any time. A good system will help you stay focused and on track.
- Focus on specific tasks when trying to manage your time.
Be Effective & Consistent With Your Marketing
When you are working on selling properties you will have to focus on your marketing and plan that activity every day so you can build consistency in your business. Put some time aside to research the type of marketing you want to use and the steps you will take to put it into action.
Do not be afraid to spend money on marketing. It is easy to just focus on the numbers and get fixated on how much marketing is costing you. However, it is important to think of the marketing as an investment in and of itself. If done the right way, it will only benefit you in the end.
If you are interested in learning more business building and time management tips, check out our Ascent To Financial Freedom Coaching Program where each level covers exactly what you need to build a successful real estate investing business from the ground up!
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