BURN OUT, the struggle is real

[Logan M.]

Recently, my assistant resigned for health reasons (Magically when he ran out of PTO). This has created tremendous property management work for me on top of the normal real estate businesses I run.

What I have realized is that it has created an opportunity for me to see my systems and processes for what they are, which is far from perfect.

Initially, when we start investing we can throw time and some money at problems but our shortcomings are magnified as we do more and more deals. I am not convinced that anyone is running the perfect management system for their properties but I do think that there are much better ways to run the business.

I don't manage any properties that I don't own (Besides one, long story), the big takeaway is to know where you want to go and stay in your lane. The most stress I am feeling now is because of the work that is deviating from my normal investment business.

Hopefully, I will be able to hire someone soon that has property management experience but until then I am in the trenches a little more than normal.

[Kim Meredith Hampton]

Logan

I’m right there with you and feel your pain and struggle. It’s so hard to find people who want to work anymore!

I do own three companies, so let me see if I can help. First thing may take a minute to complete, but make a list of all the things your assistant does. Divide the list up into things that are $15 an hour items and things that are $100 an hour activities. This will help you see what can be given to a virtual assistant and what can't. There are so many companies out there that specialize in help for property management. This way you don't worry about people quitting on you, paying taxes, overtime, pto etc… because that is now on the owner of the VA company. If yoh need help with leasing, maybe you could enlist the help of an outside third party PM or list on MLS to lease out.