What are some of the most important best practices for investors wholesaling houses to use to maximize the return on their time?
A huge percentage of the volumes of real estate investment advice out there focuses on return on money invested. However, equally important, if not more so is the return on time invested when wholesaling houses.
Time is actually far more valuable than money. So how can investors get more out of theirs?
Perhaps the most important first step is to get an accurate accounting of what a real estate wholesaler is currently earning on an average hourly basis. Many of those wholesaling houses claim to realize extraordinary hourly wages based on the time they put into inking a contract and finding a buyer. Indeed, with a good system, just based on the limited time spent on a couple of calls and actually signing paperwork some may easily calculate hourly earnings of tens of thousands of dollars.
However, many also wildly miscalculate their effective hourly earnings by leaving out many of the hours that are used up in actually leading to a single deal. For example; if 40 hours are spent in marketing for and screening deals which don't pan out just to close one it may be more accurate to factor that time in too. Still surveys of real estate agents just using old school cold calling have reportedly resulted in an effective hourly wage of over $300 an hour. That certainly beats most jobs, including risking life and limb on active duty in the military or many attorneys.
On the other side of the coin many may discount some of the related time used up in real estate education, blogging, attending ฝากขายอาคารพาณิชย์ industry events, networking, and touring homes, because they argue they do those activities for fun and would do them anyway.
Once this figure is accurately determined the next step is to find ways to be more efficient with time and increase the return on it.
Fortunately there are many ways to do this. Top wholesaling CEOs are those that get great at delegating. One famous quote in this arena says that "if you don't have an assistant, you are the assistant". This is a good place to start for solo investors. Next, there are many options for outsourcing, which may have just been made easier by the giant merger of the two largest freelancing platforms; oDesk and Elance, as well as throwing off duties onto other vendors.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น