You Need to Delegate Where Possible

Click here to watch You Need to Delegate Where Possible video

Well, and one of the most important things you can do when setting up a business around real estate investing is figuring out what can be delegated.

And by delegated, I mean give it to somebody else to do. For example, let's say you're doing some of the day-to-day tasks, like going in and checking your ads going in and looking at your finances. What you could do is you could hire some people to do that. I know when I first got started, I was doing a lot of the work myself. I would literally come in, I would look at a property, I'd sit down, I'd search the property, I'd evaluate the property. I put it in a spreadsheet. I'd look over everything. I do all the financials.

And then what I would do is I'd make an offer. I'd go and I would negotiate the offer with the owner, with the seller.

And then I keep, I'd take all that information. I'd put it in a CRM. You can do a lot of that you can get a lot of those things done by delegating. And what you want to do is delegate what I call the, not the, well I guess the less expensive tasks where I can hire somebody cheaper than what I would be paying myself to do it.

For example, some of these tasks are, can be done by virtual assistants or they can be done by low entry people that I would only pay, you know, like 15, $20 an hour. And what I would do is I would focus on the higher paying activities like selling, like talking to people like talking to investors, trying to raise money for, for my business or trying to figure out other ways where I can generate income.

So trying, so basically you want to delegate the lesser skilled task and you want to focus on the higher skill tasks that you would do yourself and the way you can. And the most important thing I think to delegate is getting a virtual assistant, somebody that's going to handle all your day to day activities, things like making appointments, things like updating different forms. Looking at all the ads that you're, you're placing every day talking to people that maybe don't need to be talked to or that you don't need to talk to directly. Checking your emails, getting in there, looking at all your phone messages. Even you, even your social profiles can be, can be outsourced to your, to your assistant, you know, doing all the creative work, the artwork.

There's a lot of things that can be delegated and you want to make sure, as I said, you delegate the lower entry tasks so that it frees you up to do some of the more expensive tasks.

Okay. So one of the most important things you can do in real estate investing or in any business really is to know when to delegate. And I know it's hard because sometimes the task you're delegating you don't think anybody else can do them better than you. But believe me, if you spend the time and you train the person, right, the delegation will actually be eventually better than what you were doing in the first place.

And when I say delegate, I don't mean abdicate. So you don't just give some task, tell them to go off and do it, and then, you know, check a week or two later and say, well, that's all wrong. You want to make sure that you monitor this task until you're comfortable that the person you've delegated to is doing it up to the standards that you would like them to do it.

And keep in mind that, yeah, maybe it is something that it's not going to be done the same way as you would necessarily do it, but maybe it's being done differently and it's being done better. Okay? So make sure you delegate the right tasks.

If you would like to learn more about real estate investing and how you can scale your business and build a large portfolio fast ... then click this link invest.jimpellerin.com