A Day in the Life: How I Spend My Time As a Full-Time Real Estate Investor [Video!]

by | BiggerPockets.com

When I tell people that I am a full time real estate investor, people immediately ask me, “What do you do all day?”

Well, just like any business, there are exciting days and boring days. There are great days full of opportunity and other days that are frustrating. Since I often get asked about how I spend my time, I figured I would shoot a video about a day I had last week. The video ties in a few important lessons about dealing with tenants, managing employees or sub-contractors, looking at deals, and interacting with local municipalities.

Related: Day in the Life of a Wholesaler: How to Find Sellers, Negotiate Deals & Assign Contracts

Please leave a comment below and let’s get some discussion going!

Thanks for watching!

About Author

Matt Faircloth

Matt Faircloth, Co-founder & President of the DeRosa Group, is a seasoned real estate investor. The DeRosa Group, based in historic Trenton, New Jersey, is a developer and owner of commercial and residential property with a mission to “transform lives through real estate." Matt, along with his wife Liz, started investing in real estate in 2004 with the purchase of a duplex outside of Philadelphia with a $30,000 private loan. They founded DeRosa Group in 2005 and have since grown the company to owning and managing over 370 units of residential and commercial assets throughout the east coast. DeRosa has completed over $30 million in real estate transactions involving private capital including fix and flips, single family home rentals, mixed use buildings, apartment buildings, office buildings, and tax lien investments. Matt Faircloth is the author of Raising Private Capital, has been featured on the BiggerPockets Podcast, and regularly contributes to BiggerPockets’s Facebook Live sessions and educational webinars.

30 Comments

    • Matt Faircloth

      Hey Russell,

      That’s funny. I’ve had the same requests. Most days are pretty boring and if I wrote an article about them it would be a very short one, LOL! This day was one that I got to spend in the field, which I love but I don’t get to do all the time – like you there is a lot of paperwork and plain old correspondence that comes with this business! I wouldn’t trade it for anything though!
      Matt

  1. Kellee Dankiewicz

    Great video, thanks for the info. One thing I learned while managing REO properties for the bank is to take lots of pictures. Have your guy checking on the dumpsters, just snap a picture of it and date stamp it. I had the city putting violations on my homes stating the landscaping was not being maintained. The date stamped pictures proved otherwise.

    • Matt Faircloth

      Hi Ian and Judy!

      I don’t do remote investments currently but am looking at some mid sized apartment buildings in remote areas so that might change. I would probably do the viewing myself even if it’s remote but I hear your question. Here are my thoughts to answer your questions…

      1. surrounding area – get them to rate it from A to D, there is a defined scale on this that you can get on BP
      2. Shoot pics of the exterior of the property, the mechanicals (heater, hot water boiler, and appliances), roof, and bathrooms. These are big ticket items to repair so you want to see them.
      3. Have the shoot a quick video walkthrough with their cell phone if they are willing and able
      4. If there are tenants in place be sure to get an assessment of the living conditions
      5. If they are going to manage it for you, great. If not you need to have your manager do a site assessment also so they can tell you things that need to be repaired out of the gate.

      I hope that helps!

      Matt

  2. Richard G.

    Great, great video! I really like the video concept and you sharing a day-in-the-life of one of your days. Keep them coming — Just curious, as far as the owner and tenant relationship and putting things in writing, have you found email correspondence or voice recordings applicable on some occasions. I understand last rent payments are of a serious nature and definitely need to be recorded but just wondering what your thoughts are on this. Thanks —

    • Matt Faircloth

      Hey Richard,

      Good to hear from you. As I understand it, Email is now acceptable for notice to tenants, the same as sending them a letter. I do know that voicemail or phone conversations are not acceptable for agreements on payment or lease renewals.

      Take care!

      Matt

  3. Justin Eaton

    Hey Matt! Saw this post on my twitter feed today via bigger pockets but I guess I am about a year late on the initial post lol! Anyhow i was pleasantly surprised hearing from a local investor. I live in a surrounding town of Blackwood and have also been keeping an eye on a few multiplex properties in NE Philly near temple. Other than the podcasts, Im fairly new to the BP website so we will have to connect on there!

    Talk soon!
    Justin

    • Matt Faircloth

      Hey Justin!
      Thanks for reaching out. I hope all is well down there in Blackwood! It’s funny, but that’s where the building is that I mentioned in this video, LOL! It was a 100 unit in town, not sure of the name but we ended up passing on the deal.
      You should come and check out SJREIA, we meet in Cherry Hill and Princeton monthly. It’s a great way to get connected to other investors. You can find out more at http://www.SJREIA.org.
      Take care,
      Matt

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