Ways to Apply 4HWW (Four Hour Workweek) principles to real estate

Ways to Apply 4HWW (Four Hour Workweek) principles to real estate

Investor · Longmont, CO · Member since 2013 · 23 posts · 6 votes

After listening to almost all 52 BP podcasts, I decided to re-read the Four Hour Workweek recently, given that so many guests are raving about it as their favorite business book. I was sitting here brainstorming ways to apply some of the outsourcing principles to my involvement as a new investor and thought I'd go public, since many minds are always better than one.

So far I have a small list going, but would love to hear if you all have any other ways you have put either outsourcing, or any other 4HWW (muse creation, 80/20 rule, etc.) into your real estate businesses.

Here's what I've come up with so far:

Virtual Assistant (VA) tasks:

  • screening MLS for potential deals
  • yellow letter campaigns
  • Google Adwords tracking and implementation
  • managing tenant screening process (background checks, tenant checks, etc.)
  • tracking down absentee property owners
  • generating a list of every commercial building owner in your town
  • collection and aggregation of data in due diligence process for a commercial purchase
  • researching cash buyers in targeted markets
  • identifying common expense items in a new market (trash, electric, water, property tax rates, etc.)

What else might make sense?

Marc

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Real Estate Investor · Member since 2013 · 866 posts · 487 votes
12y

Larry Winget is on the list of my favorite business authors. His book, It's Called Work For A Reason, should be required reading for anyone entering or currently in the workforce and especially anyone wanting to strike out on their own.

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  • Investor · Northridge, CA · Member since 2012 · 249 posts · 73 votes
    12y

    Great list - one thing you might want to consider adding is comping properties

    A lot of us use excel spreadsheets that VAs can easily use to fill out for each property (listing all pertinent info from how many beds/bath to what was recently sold in the area)

    Another one would be managing craigslist postings (tracking posts/responses or putting up new posts)

  • Urbana, IL · Member since 2012 · 1k+ posts · 425 votes
    12y

    I know some people would say a VA could collect the initial information on a call. For example, when some one calls looking to sell the VA takes note of the type of property and its description.

  • Investor · Ironwood, MI · Member since 2013 · 68 posts · 15 votes
    12y

    Great list @Marc Littmann I also am thinking about reading this book after the podcasts!

  • Real Estate Investor · Member since 2013 · 866 posts · 487 votes
    12y

    Larry Winget is on the list of my favorite business authors. His book, It's Called Work For A Reason, should be required reading for anyone entering or currently in the workforce and especially anyone wanting to strike out on their own.

  • San Diego, CA · Member since 2013 · 44 posts · 5 votes
    12y

    Another great book that could help you figure out which tasks could be assigned to VA's is "The E-Myth Revisited".

    The premise of the book is to help you structure your business to work "on" your business instead of "in" your business.

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