How are you going to make the most of peak real estate season this summer?
Experienced real estate pros know that late spring and summer is the busiest time of year in the business. As people have more free time and a chance travel, and since they need to sell/buy/rent homes before school starts again, there is a huge rush in activity and transactions. This is the time to ramp up your efforts and capitalize on the opportunities.
So how do you master the best of both worlds and enjoy the summer while getting the most out of the business opportunities?
One word — hustle. This is time to hustle. You can hibernate in the winter if you make enough cash and set up enough streams of passive income now. Do not waste a moment. May, June, and July should see you making at least twice the effort of the other months of the year.
How to Invest in Real Estate While Working a Full-Time Job
Many investors think that they need to quit their job to get started in real estate. Not true! Many investors successfully build large portfolios over the years while enjoying the stability of their full-time job. If that’s something you are interested in, then this investor’s story of how he built a real estate business while keeping his 9-5 might be helpful.
Double Down in the Hot Season
Now it is time to really put in the work. If you were putting in 30 offers a month on listed properties, now is the time to put in 60 offers a month. If you were putting up 50 bandit signs per week, it’s time to put up 100. If you were doing 1,000 direct mail pieces a month, now do 2,000. Double down!
Have fun while you do it, and enjoy the sunshine while putting up your outdoor marketing and scanning neighborhoods for deals. You may even wish to enlist the help of a few summer interns. Maybe that is your kids and their friends or the neighbor’s college kids. During the summertime, younger generations are looking for different ways to make some income. You can get some very affordable labor done by this group.
If you do not have the capital to create a lot of marketing materials, then partner with someone who does. You do the legwork, let them fund the materials, and then split the profits. With limited capital, you will have to be more willing to leverage your time to get the job done. No excuses on this.
Check Out New Markets (or Manage From Afar)
For others, summer is the time to travel and check out new real estate markets to invest in. Maybe you live in sunny California and have been wanting to see more affordable markets like Indianapolis for yourself. Or vice versa. This is the time to do it.
Then there are those who dedicate their summers to far off travels, road trips or backpacking, or simply spending as much quality time as possible with their kids and partners. If that’s you, find ways to outsmart the competition, and use tech savvy tools for finding and managing your investments while preserving your freedom.
Still, whether you’ll be out in the sun rehabbing houses or getting a tan laying on an exotic beach while checking your investment portfolio on your phone, do schedule dedicated time off to have fun and really engage in being present for some quality time with those you love. Without this part, none of the rest is worth it. Speaking of which, I need to follow my own prescription and take some leisure time too.
Investors: How are you planning on amping up your business this summer?
Let me know with a comment!