Improve Your Productivity: 4 Great Ways to Clone Yourself While Real Estate Investing

by | BiggerPockets.com

Congratulations!  You are pursuing a career in the lucrative world of real estate investing.  The sky’s the limit.  Isn’t it? We are all bound by the same 24 hours in each day.  Our current unique lifestyle is a result how each one of us has used this precious time.

Here are a few tactics, out of many, that will help you to multiply your efforts every day.

1. Don’t sweat the small stuff: A properly worded agreement which rewards your renters for not calling you throughout the month can free up hours per week.  Close your eyes and imagine your tenants fixing their own clogged toilets, leaky sinks, burnt light bulbs, cracked windows and other small mishaps that are destined to occur.  Offer a discount of a few dollars for each month the tenant doesn’t call you to fix minor maintenance issues.  This gives your tenants a reason NOT to call you over the minor issues that may arise.

2. Meet your neighbors: Whenever you get a new property, whether you plan on fast-turning or holding it, meet your new neighbors.  There are three main reasons to do this.  The first is to see if they know anyone that may want to move in or buy your property.  The second is to see if they know of anyone else in the area that may be interested in selling or if they know of any vacant properties nearby.  The third critical reason is to ask them to call you immediately if they notice anything suspicious on or around your property.

3. Use Technology. It is your friend: Before I got myself an automated voicemail system I can’t tell you how many hours I wasted every week talking to wannabe buyers/sellers.  Describing the property, price, terms, directions, etc. can be done automatically by a recorded message you provide.  Get yourself a free or cheap voice mail system that can screen out the time wasters before you talk to them.  A perfectly worded message can drive more buyers to a property than you ever could alone.

4. Add me as a friend: Before Facebook and Linkedin we actually had to network with people in real life.  Looking for leads does not and should not be done solely by you.  Multiply your efforts looking for potential slam-dunk deals; let everyone know the type/price/condition/area of properties you are currently seeking.  Remember to excite the new bird-dog’s greed gland by telling him/her how much they will make if they send you information that leads to an executed deal.  Bird-dogs should collect as much information off a FSBO sign as possible, take pictures if needed, or grab the address if property looks abandoned. People to tell: tenants, sellers, buyers, friends, family, mail men and women, city workers, fedex drivers, trash men, everyone and everyone.

*Important note:  Depending on your area it may be illegal to give a commission or cutback to someone other than a licensed Realtor.  So be aware of legal loopholes around this obstacle.

Remember don’t just stay busy; use your time effectively.  As human beings it is so easy to get tied up doing mundane tasks that distract can you from your real money making agenda.  It’s amazing that making just a few tweaks to your routine/system can free up so much time and attract tons more qualified leads.

– J. Fed

Photo: adactio

About Author

John Fedro

Investing since 2002, John started in real estate accidentally with a 4-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to his cash-flowing portfolio. Since these early years, John has gone on to help 150+ sellers and buyers sell their unwanted mobile homes and obtain a safe and affordable manufactured home of their own. Years later, John keeps to what has been successful—buying, fixing, renting, and reselling affordable housing known as mobile homes. John shares his stories, experiences, lessons, and some of the stories of other successful mobile home investors he helps on his blog and YouTube channeland has written over 300 articles concerning mobile homes and mobile home investing for the BiggerPockets Blog. He has also been a featured podcast guest here and on other prominent real estate podcasts, authored a highly-rated book aimed at increasing the happiness/satisfaction of average real estate investors, and spoken to national and international audiences concerning the opportunities and practicality of successfully investing in mobile homes.

6 Comments

  1. J-Fed,

    1) That is a great photo you have there. Are those Lego men? Awesome.

    2) Also, good words of advice in point number 1 in your article. This advice can not only be applied to real estate investing, but rather, it can be applied to life in general. Don’t sweat the small stuff, it’s not worth it in the grand scheme of things.

    Onwards and Upwards,
    Neil.

    ps: you have a great website.
    .-= Neil Uttamsingh´s last blog ..How to buy your first rental property – Step Four =-.

  2. Number 3 is definitely something that people need to embrace. Technology is advancing so fast and the more involved your are with that advancement, the better you’ll be able to migrate to the next level. Great Point John and I have to agree with you about the automated voicemail system, it is truly a timesaver and weeds out the tire kickers! You’ll definitely improve your productivity!
    .-= J. Lamar Ferren´s last blog ..Superbowl 2010 | Do This Before The Game! =-.

    • Looks like a spammer got through the BP filter. I will not try your beauty products or take your $100 offer. Have you seen my pores? They’re flawless.

      Thanks anyway,
      John

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