Real estate investors have to be masters of multi-tasking. While Phoenix real estate investing requires someone to wear many different hats, losing sight of what is important and focusing on the wrong tasks can derail great investments. In order to be a more productive, and successful real estate investor in Phoenix, setting a productive daily routine is necessary to investing smarter, and seeing a higher return on interest.
Set a Daily Task Log
Every real estate investor knows that there is never enough time in the day. However, there are certain tasks that you should complete every day to make sure that nothing falls through the cracks. Some sample tasks that should be completed every day: budgeting, flip research, networking, contractor check-ups and updating any investment listings. These tasks help you be more productive by keeping you on top of your budget, knowing the status of all your projects, making sure that your listings are getting traction, or updating them so they have the most up to date photos and information, prospect for new leads on your investments (such as checking requests on your pages) and much more.
Do the hardest task first
Maybe there is a task on your list you hate doing, such as budgeting, or calling your contractor to get an update. These are both necessary productive tasks that every real estate investor needs to complete. By making sure to do these tasks first you will not only ensure that they get completed, but that you are up to date on every aspect of your real estate investing business.
Don’t let anything get in the way of the task you find the hardest to do, if you get the voicemail, send a text that way you know they will see it and get back to you, if someone calls while you are updating your budget, answer and let them know you will call them back as soon as you finish your current task!
Set Time To Network Everyday
Networking is very different now than it was 10 years ago. In fact, you can network almost 24 hours a day. Continuously building your network is key to working with the best in the industry, learning more, and possibly making deals happen faster with people that you connect with. Make sure your connections are genuine, such as leaving a comment on someone’s before and after photo of their flip or adding to a discussion into a real estate investment group. You can learn more about how to use social media for real estate investors here.
Writing things down
If you are a real estate investor you know that situations change quickly. they know that no tasks should slip through the cracks. If you haven’t already bout a professional notebook, you should. Planners are useful as well, so you never forget important dates (also make sure to sync up o your phone calendar). Having a pen and notebook handy at all times is so useful, as studies show that we are more likely to remember something we physically write, rather than type. By using a notebook or planner you can stay on top of tasks and rest easy knowing that nothing has been forgotten or misplaced. Writing your tasks done, or new update will help you stay on track and save you from wasting your time to get answers or solve issues that are already taken care of.
Setting a routine and timeline per task
It takes up to 21 days to set a new habit, in fact, that is why most new year’s resolutions will fail before the first month of the year is over. Knowing when to do the task on your lists, and when they will be the most effective is key to optimizing your success. Maybe your daily tasks involve emailing, studies have shown that Monday mornings are the worst time to send emails, they are more likely to be deleted at that time and day. It’s also important to time how long it takes you to complete a task, knowing how long it takes to budget, or email your contracts or respond to message is key to keeping focused. To update your budget, it should only take up to 30 minutes, and networking tasks you should only spend about an hour on every day. By setting a timeline and routine you will stay focused and make your real estate investing more focused than ever before.
Having Easy Access To Funding
The best way to be a more productive real estate investor in Phoenix is to invest more! Quality is more important than quantity, but in order to create a steady revenue stream, you need to have a real estate investment portfolio with multiple properties. Passive incomes are a smart way to make monthly income, but landlording can be tricky. But in order to invest in multiple properties, you need to have access to fast capital. Hard money lenders make real estate investing easy because they offer loans on undervalued properties to cover the purchase of the property, and the repairs! Hard money lenders offer same-day approval, fast funding. Prime Plus Mortgages makes real estate investing easy since our loans are made by real estate investors. Our Hassle-free application takes two minutes to fill out. Click here to learn more about our hard money loans!