How to Run Your Real Estate Investing Business on Your Own Terms

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Last week I was in Las Vegas and this week I’m writing from Alberta, Canada. I like to travel, and luckily, my real estate business provides me the opportunity to do so. However, I’m often asked by new investors how I can travel so often, while still running my real estate business.

Well… my first answer isn’t the one that most investors who want instant gratification want to hear, because the answer is that it took me a while to get to this point. The first two years of my business I was running around like a madman because I didn’t have the proper systems in place, I didn’t manage my time right, and I was doing a lot of learning about how to close various deals.

However, I quickly realized that I’d go crazy if I kept up the pace and if I didn’t to treat my real estate company like an actual business. One of the first things I did was to hire a virtual assistant. It was the smartest move I’ve ever made. You see, most investors have a 9-5 job and do their real estate activities when they get home from work.

And often…

That means calling all of the sellers who called you earlier in the day to sell their house. And, if you ask me, it’s not fun spending every evening on the phone when 95% of the sellers will waste your time and not be motivated enough to do a deal with you. That’s why my virtual assistant screens out the unmotivated sellers from the motivated ones. By the time I talk to a seller, I know they’ve been pre-screened, which means there’s a high likelihood I’ll close the deal.

My assistant does dozens of other tasks for me, including, screening potential renters, taking care of calling my handyman for repairs, placing craigslist ads for me, and taking care of my postcard marketing – which obviously frees up a lot of my time.

Another reason I’m able to travel so much is because I have a ton of confidence when talking to sellers. Early on, I’d drop everything and rush over to a person’s house to close a deal. I’d let them bully me around, I’d lower my fees and I was an all around wimp.

However, now…

I’ll tell someone that I’m so busy helping others that the only appointments I have available this week are Friday at 6 or Saturday at 2. I set the terms and I let people know why my company is the best and why they should work with me.

Lastly, if it’s a really good deal and I’m going to be out of town for a while, I’ll FedEx the seller my “Deal Closing Kit,” which is a folder containing information about my company and special reports. This ‘kit’ basically pre-sells the person so I’m more likely to close the deal with my first meeting with them.

In short, start examining how you’re running your business. You’re probably wasting a lot of time and could be spending more time with your family or on activities you love. Also, remember, that a huge part of this business is your self-confidence and your belief that you’re company is the best in your area to help out motivated a motivated seller.

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.