The daily routine

[Jason K.]

Myself, and other newbs here would be more than appreciative to gain a little insight as to what you seasoned full-time investors daily routines consist of?

What are the most important tasks that you know you need complete each day in order to achieve your monthly & yearly goals?

Is it knowing that you will need analyze a certain amount of properties, or forming a certain amount "new connections", driving for dollars, etc.

Given your work week is 40 hours, how do you break down and organize your efforts & dollars?

I'm writing my business plan and want to make sure that I'm doing the things most important to build my biz.

All input is welcome and appreciated

:idea:

[J Scott]

Every investor is going to have a routine that works for them, and every investor's routine will likely be different...

That said, here are the things I spend my time doing:

- First, I don't work on real estate 40 hours/week, on average. I'm involved in various investments and businesses, and flipping is just one of them (albeit probably the most time consuming over the past year or so). There are some weeks I spend 40 hours focused on the flipping business, and there are others where I'll spend less than 5 hours on the business, even though the business is still chugging along. So, there is no "typical" week for me.

- Finding and analyzing deals. I'm a big believer in delegating as much as I can in my business (i.e., have employees and/or contractors), but I've found that finding an analyzing deals isn't something that I want to entrust to someone else, at least not at this point in the business. So, I spend most of my time in this business looking for and at deals.

- Strategy. I spend a lot of time determining the blue print for the business moving forward. What are we going to be doing next week, next year, and possibly five years from now? Where are the opportunities? How do we best position ourselves to carry out our strategy?

- Systems and processes. I like to optimize my business and I want to ensure that my business would be able to continue running without me, whether for a couple days or a couple months. That takes good systems and processes, as well as communicating those systems and processes to those working with and for me.

- Managing the business. This includes making sure my project manager is doing his job, making sure my contractors are taken care of, making sure payroll is completed, making sure my marketing person is making progress on marketing tasks, etc.

I'd probably break down those 4 tasks above as follows:

40% - Analyzing Deals
25% - Strategy
20% - Managing the Business
15% - Systems and Processes

Again, that's just me...