What are you doing everyday to be productive in Real Estate?

Question

Hi BP,

Just curious to see what everyone does on a daily basis to progress their real estate journey.

I’m a newbie, I have one rental property under my belt and am looking to scale. I’ve caught the real estate bug and cannot quit!

Everyday I walk my pups along the river and listen to a real estate podcast. Sometimes I do my conference calls by the river, I tend to think more creatively in this environment. I look at the forums everyday and read real estate related news everyday as well. I then surf the internet for potential properties, make connections with people, set up conference calls for the following day and repeat.

Right now, I’m trying to figure out creative ways to buy homes with little to no money down. I’m looking into owner financing, hard money lenders, partnerships etc. I’m trying to talk to as many people as I can and soak up as much info as I can.

I also recently started doing yoga every night to keep my stress low and keep my mind sharp.

So with all that being said, what does everyone do on a daily basis to keep progressing in their real estate journey?

Joe Fairless · Answer

@Emily Hill great question. Here's what I do daily:

- drink a liter of water with a scoop of wheatgrass as soon as I wake up (this helps me get ready for the day, wakes me up and hydrates me)

- do some form of exercise - ride my bike around town, run, lift weights, play basketball, etc

- read something - right now I'm reading a book on TED Talks to help me become a better public speaker

- look at my vision board which is a big poster on my wall, the background on my phone and the background on my laptop (it would be impossible to miss it!)

- look at my death clock - I have a countdown clock that counts down the days, hours, minutes and seconds to my deal (I picked my 90th b-day) - it reminds me that every second counts

And, each week I:

- interview 9 real estate investors for my real estate investing podcast (been doing a daily podcast for over 1,800 days now)

- read something about apartment syndication that someone else publishes either a blog article, book, or read the transcript of a podcast

Ned Carey · Answer

@Emily Hill I try to focus on the most important thing I can do. If you haven't read "The One Thing" you should. I believe it is the best book on time management ever.

Right now my focus is getting my new bookkeeper up to speed. That will take a lot of work off my plate.

Like @Joe Fairless I too follow a morning routine including meditating, listing things I have to be grateful for, and reading my vision.

Dave Thomson · Answer

Hi @Emily Hill, great question! I use @Brandon Turner's 90 Day Intention Journal and love it! I also have a routine and goal tracker in Excel that I found useful. Some of my daily habits include running, 2 REI podcast at 1.5x speed, reading 15min a day, family time, planning out my day by the hour, and depending on my goal for the week sending X amount of letters/offers, in depth education on certain subjects (SEO, house hacking, etc.), and I'm a part of a mastermind that holds me accountable. With that said, every day is NOT perfect, but with tracking everything I found it to be more of a game, and the days I plan everything are the days I move closer towards my goals :)

Emily Hill · Answer

@Dave Thomson Hi Dave, I will definitely look into doing the 90 day journal I keep hearing good things about it.I also like the idea of a goal tracker using Excel. I know a lot of investors use excel to track and analyze deals. I will have to try listening to a podcast at 1.5x, I'm all for anything that saves me some time! Great idea! I appreciate you reaching out and taking the time to share.

@John Teachout Hi John, sounds like you stay pretty busy! My goal is to leave my 9-5 job to pursue real estate full time. Also, that's really cool that you are able to work on your investment homes. I am a newbie so I heavily rely on youtube and google to help me out with how to fix things around my primary residence but I'm learning as I go. Not sure if I will ever be able to lay concrete or do sheetrock but my DIY skills are improving! Thanks for sharing!

@Joe Fairless Hi Joe, first off congrats on your podcast! That's an amazing accomplishment within itself. Second off I love the idea of having a death clock! Lol...I've never heard of this but sounds like a good reminder to let you know that every second counts! I admire that you are educating yourself to be a better speaker by reading a book on the subject. I think that's why I love real estate so much. Seems like the majority of people in real estate enjoy learning more and are always educating themselves. I really enjoyed business school and learning all the different strategies of business. I would study with peers and after we were done studying, we would discuss our plans for the night. I felt like such a nerd because I would tell my peers that I'm going to go home (Mind you this is a Friday night) and read a book on business that isn't even part of our school curriculum. The faces on these kids were priceless, but I enjoyed learning more about business. I cared more about making money than going to a frat party. I love that you mentioned a vision board! I tried to do a vision board with my 5 year old nephew a few months ago but it kind of turned into a Christmas list for his parents and well needless to say I won't be babysitting him anytime soon...Vision boards are a great idea and I will definitely be creating one by myself this time! Thanks for sharing.

Emily Hill · Answer

@Ned Carey Hi Ned! Thanks for the book recommendation, I will be adding that one to my list of must read's! The past few years I've thought about real estate investing. It wasn't until this past year that I started to get serious. Since purchasing my first rental property, it's like I'm a different person, in a good way. I've been taking more time for myself so I can be a better person, friend, daughter, real estate investor etc. Eating better, meditating/yoga, even lost some weight, just overall wanting to be the best that I can be so I can stay on my game and grow my business.

John Teachout · Answer

I work on a house refurb 5 days a week. Real estate is our full time job. The one I'm working on now will take until Christmas to finish. Then we'll buy  something else to work on. (after we attend to some other house maintenance on our pretty long list)

Joe Fairless · Answer

@Michael P. I actually thinks it just sounds realistic because I know I'm going to die eventually so it by calling it a death clock it is a reminder for me to live to the fullest. That said, my wife prefers to call it my 90th b-day clock! :)

Roni E. · Answer

Good question. I would get up to get 2 large cups of coffee. Say what you are thankful for, great the team and check in on everyone. Then get caught on emails, then

1. Research learn somether deeper or newer

2. Check the markets and usually on every 14 days speak with our debt contact to see where the market is and possibly going

3. Search for new deals, but we have seen the best way is a relationship with brokers and or sellers. We have auto searched setup that pulls new items but speaking to brokers and owners best.

4. Last items the days can be trying it is not about getting knocked down but what you do when you get knocked down.

James Wise · Answer

One thing I think folks miss in all of this is income generation. You guys should all be looking for ways to increase your current earnings so you've got a surplus of funds to use in your real estate business. This is the biggest part of the puzzle.

Michael P. · Answer

Nothing, I invest in passive real estate

@Joe Fairless death clock sounds gloomy; did you consider calling it a life clock; ie how much time there is left to live life (to the fullest)

What are you doing everyday to be productive in Real Estate?

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