We are all busy with life. Family, school, kids, work, church and on top of that some of you are trying to get your real estate investing off the ground. A few years ago, I ran across some great time management tips just perfect for real estate investors. After I applied these time management tips for a few weeks I noticed that I became more proficient with my real estate investing tactics and efficient with the time I spent in my investing business. Here is a copy of what I have up on my wall just above my desk:
Tip 1 – Do not answer the phone or immediately respond to emails
When building your real estate business, you need to be strict about creating blocks of creative time when you can work on projects. Answering every phone call or email disturbs your work and flow, and doubles the length of time to get stuff done.
Be ruthless. Set rules. Have a block of time for communication and make it known to those who contact you on a regular basis. The more productive you can be during your workday means you’ll have more quality time to spend with your family and friends.
Tip 2 – Respond to emails at a particular time and make that known to everyone who emails you
It’s very simple. Answer all of your emails at the end of the day. This prevents unnecessary email conversations from growing. Most emails – even the ones that seem to be emergencies – are not emergencies. Don’t train people to expect immediate responses from you. In fact, train them to expect a response at a given time every day.
Tip 3 – Do not set expectations you can’t meet
Quick and easy access to you is an expectation that cannot be permanently met as your real estate investing business grows. While you might want to return every email immediately and personally, understand that as your number of investments, offers and deals grows, you simply won’t be able to answer every email. So be careful about the precedents you set to avoid future disappointment.
Tip 4 – Do not allow people to “drop by”
Again, you must stop the interruptions. After all, what important person drops everything to receive unexpected visitors?
Is Donald Trump going to see you when you pop by the Trump Tower to check out his boardroom? Of course not. And while neither of us are Trump, we have projects that are just as important (to us) as he does to him.
Set your rules. Block your time. Bar the door.
Tip 5 – Script Your Day
At the end of every working day, script or plan out your next day. It’s very simple. You should have a template that you can insert specific tasks into. For example, here’s the template I use.
5 am – Gym
6 am – Kids Schools
7 am -Check Voice Messages /Tenant emergency emails
8 am – Check Emails for deals/project communications
9 am -Social Media
9:30 am – Study or Write about new Investing technique or Work on new deal/project
12 pm-Lunch and respond to email
2pm – Connect with team members/tenants
4-pm – Pick up kids
4:30 pm – Supper w/Family
6-Time with friends, family, and after-school sports
BreakthroughMarketingSecrets Craig Ballantyne, who first shared these tips with me a few years back, also share that “some folks might be offended that you won’t drop everything to hear their tales of woe, or commiserate with them about life’s injustices, but remember, it’s your time, it’s your life, and it’s your dreams you are after.”
Although you may think this article is not really about “real estate investing” this article is about helping you be a better “real estate investor”. If you have control of your time and energy – you can better direct it towards activities that will make you money or better manage your real estate investments.
Best of Luck Investing & take charge of your life and your time!