Real estate investing is unique in more ways than one. However, one of the primary differences between a traditional career and that of an investor is that real estate investing happens around the clock. There isn’t a traditional 9-5, Monday through Friday, take-government-holidays-off kind of schedule. Real estate investing often requires long, irregular hours.
While this is fine by many, it often leads to complications on the home front. Studies suggest working long hours can lead to excessive drinking. Spouses complain that their partners aren’t spending enough time at home. Children get upset when parents don’t attend extracurricular activities. The list goes on and on.
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7 Ways to Achieve a Better Work-Life Balance
So, as a real estate investor, how can you continue doing what you love without compromising your personal life? Let’s examine a few helpful tips:
Meet with your family.
The first step involves meeting with your family and having an honest discussion about the current status of your work-life balance. Are you doing well? Where are you underachieving? What do your family members expect from you on a weekly basis? Answering these questions will help see where you’re at and where you need to be.
You need priorities if you expect to see improvement. Based on the feedback you received after meeting with your family, prioritize various aspects of your life. This includes things like spending time with family, working, exercising and traveling. Knowing where different things rank will allow you to make smart choices when confronted with multiple opportunities.
Create your own weekend.
As mentioned, the schedule of a real estate investor is anything but normal. However, everyone needs some time off. If you don’t have a regular weekend, make one. It doesn’t have to be two full days, but it’s advisable to have at least one 24-hour period away from work each week. This gives you a chance to recharge and reestablish your focus.
Do you find it impossible to get away from work? It may be time to get help. Hiring a full or part-time assistant can significantly reduce your workload and allow you to focus on important tasks, as opposed to petty, time-consuming ones. If you do choose to hire someone, make sure you carefully consider candidates and find an applicant who’s energetic, qualified and willing to learn. It’s also a good idea to hire an assistant who already understands the basics of real estate investing. This ensures simple terminology and requests are handled as efficiently as possible.
Your family needs to feel like they can reach you when you’re needed. Making yourself accessible will help you spend more time working without compromising your personal relationships. Carrying a personal cell phone in addition to your work phone is a great idea and shows that you take personal time very seriously.
Establishing routines in your personal and work life will help you maintain a better balance. This also helps with stress, as you’re able to better understand what each hour of the day is reserved for (as opposed to haphazardly navigating each day as it comes).
Talk with your peers.
In all likelihood, you aren’t the only individual in your circle of professional peers who finds work-life balance challenging. Having frank conversations with your work partners and peers about your commitment to your family will let them know you’re serious about maintaining a balance. It will also encourage others to keep you accountable.
Do these tips sound practical? In most situations, adjusting to accommodate these new habits is simple and effortless. Ultimately, remember that your family is most important, and they deserve your complete attention. Investments will always be there waiting for you.
Entrepreneurs: How do you make sure you spend quality time with your friends and family?
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