As my business keeps growing and growing it is becoming apparent in the near future I will be hiring a full time employee.
I have used virtual workers in the past. The rate is cheap but you get what you pay for. Lot's of time wasted micro-managing them. They have divided interest working for multiple people. I am only possibly hiring someone local and no divided interests.
At this point I am looking to take on someone local to me full time. They will have to have an ability to do multi-tasking. They will have to work in my office.
I am looking at paying them a small hourly rate and then a bonus. Experience has taught me the lazy people want to get paid all the money hourly. They milk the clock and do the absolute minimum. I am looking for the superstars. They will work hard knowing by doing little they get hardly anything but If they apply themselves they can do very well. I find this weeds out weaker candidates with low to no motivation.100% talk good game but only 10% have action behind the words.
Just wanted thoughts on others who have full time assistants or secretaries work for them and how it turned out for you??
I have found that administrative employees want a fair salary and stability. Stability being #1. My attempts to tie their compensation to commission have failed. Admins are admins and generally don't have the stomach for a irregular paycheck. That leaves you picking among the weaker admins that have to take what they can get. In my experience it is worth a few dollars more per hour to have a high caliber, reliable employee that you don't have to micromanage.
I hired a full time administrative assistant the end of last year to replace the parttimer, one of the best decision I have made in years.
Freed up a tremedous amount of time for me to focus on growing the business and designing systems..and no longer spend all day sat feeding reciepts into quickbooks.
He also has reduced the time I spend looking for houses by about 80%. without refucing our effectiveness or effeciency significantly.
He is paid a salary, two raises since he started, exceptionial performer, without being tied to specific preformance criteria, mostly because I couldnt figure out the criteria.
Check people's references to determine whether someone is a good worker or not. Or you could try working with a temp agency to find someone that you like. You will likely need to take time to train the person you hire and show them what is needed for your specific business.
Thanks for the responses. Yeah that's just it is that I am not interested in training someone and paying them taking away time from my business when I can do it faster.
Now that doesn't mean I will train them on the small differences but for instance they already have to be highly proficient in Excel, the CRM I use, researching and putting together listings and inputting, back end website updates, marketing out, scheduling appointments, and researching and coding new owners and addresses to target for business. So they have to have incoming skillsets versus I build someone up from scratch.
So I expect a lot for what I pay and if not I just will not hire anyone. Lot's of subpar people out there not up to my work ethic or standard. I am not going to waste time on someone and train them up to only be a dud. If you pay someone hourly only they have zero motivation to excel unless they have an internal integrity to do their job the best they can no matter what. That represents only a small fraction of workers out there. The rest simply want to do the minimum and be lazy.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!