Daily Operational Habits-- Landlords & Investors

Buying & Selling Real Estate
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Daily Operational Habits-- Landlords & Investors

Tom Henderson
Minneapolis, MN · Member since 2013 · 78 posts · 6 votes

Hello Team!
Like many of you, I work a full time gig for another firm. I usually put in 55-60 hours for my day job. 

Needless to say, I need to be smart with my time, and not get distracted with interruptions or shiny objects during my day job hours.

I'm curious what type of routine some of you follow to best manage your real estate investments? Do you have a best practice standard morning routine? What would you add to this list below? I know Brandon has been talking about writing for one-hour each morning.. that got me thinking about how I can batch my Operational work into a 30 minute morning session, with coffee of course. 

I'm hoping to get this information, and subsequent work/follow-up done by 7:00 am each morning, so I can focus on my IT Sales day-job is the economic engine fueling this real estate endeavor. 

Working-on-business (not-in-it) activities:

- Automated renewal notices -- 90-60 days in advance

- Daily status-- current projects in flight

- Cashflow-- Daily review AR, Cash in bank accounts & Cash owed to credit card companies

- Client-Tenant requests-- for requests/incidents that are not emergencies and which can be handled next biz day

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  • Trevor Ewen
    Rental Property Investor · Weehawken, NJ · Member since 2014 · 1k+ posts · 704 votes
    11y

    @Tom Henderson

    You and I are in similar industries. Time management is critical to get focus in the tech world. We have so many good tools available to us, but at times, it's overload. Here are a few of my quick tips for REI and workday optimization:

    - Limit emails: This may be tough for a sales person, but I do one email session in the morning, and one at 4PM. The amount of efficiency I gain from batching is incredible. Also, I schedule loads of emails using an email scheduler for Gmail (sndlatr). 

    - GTD, GTD, GTD, if you have not read it, get it here. You can't do much better for yourself.

    - Limit your time on any social media. Set a goal for a day (be it Twitter, blog or Bigger Pockets). Use tools like Buffer to schedule things, and otherwise try to make the few moments you spend on it very worthwhile.

    - I like to read a lot, particularly articles about the real estate market. This is a huge distraction. I use Pocket to save articles for later, when I ride the train, sit in a doctor's office, or wait in line just about anywhere.

    - I only buy ETFs on Wednesdays. This allows me to dollar cost average and not dwell on the market that much. I make exceptions for days when there is a particularly heavy drop, and I like to get in on the ground floor after the hysteria.

    These are not necessarily real estate tips, but still things that help me focus. I usually reward myself with REI emails, listings, and networking around the end of the day if I have completed everything on my list for the day.

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