Systems for the Beginner Real Estate Investor

[Christopher Randall]

I've heard over and over that it is important to develop good systems to keep your business running smoothly. As a new real estate investor I think it's crucial to lay down a foundation of systems that will propel you to the next deal. Right now like many others on BP, I am working full-time and studying real estate in the few hours I have outside of work. I am in a fortunate position at my day job that allows me to listen to podcasts on the job. I have taken full advantage! After listening to countless BP podcasts I have often come across the topic of "systems". This has inspired me to take initiative to develop my own early investor's system. 

Here it is, it's simple! I will take one hour after I get home from work to analyze five to ten deals in my local market and make a few phone calls. I think that's all it takes at first! Understanding the market that you want to invest in is crucial to understanding what an actual deal looks like. Making phone calls to real estate brokers, investors, realtors, bankers, and the like will build connections to move you forward and help you in the future. This alone should be more than enough to put me into a loaded position to take the next shot I see on a good deal! So tell me what you think, I want to hear from those who have been there. What was your first "system"? What worked well and what didn't work so well for you? Where is my daily REI hour best spent to help me accelerate my investing?

Thanks for your replies,