Virtual Assistants - How to ?

[JasonK]

With a full time job its difficult to get things done with my real estate business. I need to get out there and find the deals but my systems are non-existent because they depend solely on my efforts in the limited time I have at the end of the day.



Currently exploring virtual assistants and needing time saving advice & feedback from REIN members who may be already using them.



Thank you,

 

[Thomas Beyer]

Systems for what ?



Accounting --> hire a P/T book keeper

Real Estate Scouting --> find a bird dog or realtor that works for a commission or flat fee per deal.

Property management --> find a property management firm that manages property for a fee

Answer phone for ads you have placed --> hire a firm for $s per call taken / a cal center / virtual office receptionist. Those exist at 1-800, in India and in most Canadian cities physically !



hence: what SPECIFICALLY do you need ?





Other tips for delegation:



Put this list on your fridge, or ask someone (or 5) that knows you well !



What am I excellent at ? ___________________________________

___________________________________

___________________________________

___________________________________

___________________________________



What am I good at ? ____________________________________

___________________________________

___________________________________

___________________________________

___________________________________



What am I average at ? ___________________________________

___________________________________

___________________________________

___________________________________

___________________________________



What am I poor at ? ___________________________________

___________________________________

___________________________________

___________________________________

___________________________________



What am I terrible at ? ___________________________________

___________________________________

___________________________________

___________________________________

___________________________________





Then delegate most or all tasks on the bottom line or line 4. Over time, also line 3 and line 2 .. but that will take years usually.



i.e. focus on your STRENGTH !!



What are your strength ? What are you really good at ? Do more of it ! What are you terrible at ? Do less of it at first, then none of it if at all possible !



2nd tip: How much money do you want to make in a year ? Thus how much is your time worth ? Let's say you can find one more deal per year and make 20K/year more with 200 hours of work. That is $100/h. Usually you can find people for less than $100/h ..



Focus on finding deals and investors/JV partners. The rest can be delegated ![in time]!!! [we collect rents from almost 2000 tenants .. I could not blog so much if I didn't delegate that ..]

 

[RedlineBrett]

Thomas your consistent presence and continuous free advice are probably the single greatest thing about this forum... I hope REIN is finding a way to make it worth your while!



To the OP - you need to find focus. Like it or not you can't delegate much at the start of your investment business. Not if you want to truly understand how the business works anyway. You need to focus on one aspect at a time, learn it then find a way to either delgate it for a fee or find a commission based person to work with to help you fill that gap (realtor, mortgage broker, insurance agent, property manager, lawyer etc).



As Thomas says you need to get some people on your team and focus. Take another look at the resources REIN provides as they do a great job of roadmapping the path to success.

 

[ChrisDavies]

Some great advice in this thread. I sat down with a new investor client a couple weeks ago for the first time and listened to what she wanted, explained how I worked and how I thought we could work together.



Apparently I'm the only Realtor who has ever pitched working a specific system on a specific asset class. Focus, understand what has to be done and what the best way to get that done.

 

[JasonK]

Great tips!



Focusing and delegating tasks are definately the solution and the reason for my seeking virtual assistance to supplement my evening operations. I am definately lacking a team that I can delegate to in order to help me focus.



The list seems like a great idea to gradually reduce the load; will put it to the test for sure.



All feedback is welcome!

 

[RobMacdonald]

Read the book "4 Hour Work Week" by Tim Ferriss. I finished it a couple of months ago and trying to implement a few things. He has tonnes of suggestions how to automate or outsource some tasks. There were things I hadn't even thought of.



Not everything will apply to everyone, but worth a read.

 

[tchconst]

Thanx. 1 of the best things I've read today.

 

[markl]

Sounds like there is no system. What are you investing in? where are you investing? Chris hit it with out aiming.. Who is on your team? Why are you doing the heavy lifting an experienced real estate investment team should ease the load for you. Pick your area then post on here or go to the REIN meeting and ask if anybody is investing in your area if not do they know anybody. Get referrals and get working on your focus properties.