😱 New Investors' Biggest Trap 🚫
🚫 The biggest trap new investors fall into?
💪🏽Spending their time focused on low $/hr tasks.
🤨 How do I know this? Because I fall into this trap *All* *The* *Time.*
🔍 Don't get me wrong, when you're first starting out, you're short on capital, and you don't have the street cred to secure partnerships necessary to grow, you may need to do some major bootstrapping in your business to get things off the ground.
😵 But by painting, laying floors, and assisting in the general rehab of your projects, you are taking hours, days, even weeks away from finding the next great deal, speaking with potential equity partners, and finding great debt for your investments.
⏰️ As an investor, your greatest assets are your time and your mind.
🧠 Use your time intelligently by hiring out the low $/hr tasks and focusing on high value actions that will grow your business.
❓️As for me?
🫡 You can catch me spending my time at BEC, VSVCon, BPCON, and as many conferences as possible this year working toward learning from the best and outsourcing the rest 👍🏼
I’m a GC and can do most of this work myself, yet don’t I hire other GCs, put my own crews to work, or collaborate with partners for the “bigger picture”. I’ve see. So many people get pulled into this, as well as myself when I start my first Airbnb. If you can pay someone to do it for $1 less than what your time is worth that’s $1 extra