One of the things holding many people back from investing in real estate is their belief that they can’t invest in real estate while working a full time job.
The question is common “How do you make time for real estate investing when you have a 9-5 job, plus traffic time, plus dinner, plus spending time with your family? My day is booked.”
The truth is, you can invest in real estate part time. It is possible. It starts with getting into the positive mindset that you are going to make it happen. You can’t pre-judge an outcome before making an effort. If you attempt to invest in real estate in your spare time, you’ll find that you have plenty of time to dedicate to your investment business.
Ketty can speak to this as she works full time and overtime running her own company. CEO’s and business owners often work 60-80 work weeks running their companies making time especially tight for them. Yet they find a way to enjoy side hobbies in their spare time. Real estate can become your side hobby and I’m going to give you some tips how you can make it work!
Tip #1: Outsource
You don’t have to do most of the work in your business. Outsourcing the work to other people will save you time and allow you to spend your time on the money making activities of your business.
What are the money making activities?
Lead generation. Finding motivated sellers who send their property details to you to review to see if the deal is worth pursuing as an investment. If you can build a lead generation system that sends you lots of seller leads, then you’ll be able to cherry pick investment deals that fit your criteria and have the best estimated returns on investment.
The tasks you can outsource include property management, tenant screening and leasing, repairs, etc. You don’t have to fix the toilet at 2am in the morning. You can have team members who do this repair and maintenance work such as a maintenance technician, contractors, and skilled servicemen. Your proprety manager can be the one scheduling these guys and coordinating the work while you just collect the checks and get monthly reports.
Tip #2: Schedule in the time
Just like you schedule life around your job, you can schedule life around your real estate investing as well. For example, block out an hour per day during the work week or block out a few hours each day on the weekend. Then schedule your family and entertainment activities around this so that you have the time to dedicate to real estate while still enjoying your family life.
If you have to wake up an hour earlier every day, then do it! Get in the Whatever It Takes mindset! Some of the most successful people in the world wake up at 4am, 5am, before the rest of the world. By 9 o’clock when the average person is going into work, these early risers already put in a few hours of work getting a head start on the world.
Try out these 2 quick tips and start changing your mindset into an “I can do it” train of thought.
If you’re interested in investing in the Miami real estate market, our company Blue Spark Investments works with investor clients on a weekly basis helping them acquire, renovate, manage, and sell properties. We can help make real estate investing passive for you by providing the services and management of the investments while you simply partner up with the capital investment to acquire the deal.
Shoot me an email and we’ll set up a phone call to discuss the options further! [email protected]
Nick Foy & Ketty Urbay
Blue Spark Investments