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Updated over 5 years ago,
Finding your fit in your business
Bottom line up front:
I'm starting out and wearing 90% of the 'hats" in my company and I know I need to narrow down my strengths and weaknesses. I'm curious how others have experienced this journey.
My wife and I created and LLC this year and purchased our first duplex. We are doing some repairs, which can fill another post in and of itself, and we'll be moving in at the end of the month to house hack there.
Right now, I'm working a full/slightly more than full time job, doing much of the rehab work myself, managing the handymen that are helping me, purchasing the materials, setting up the bank accounts, managing the money, trying to figure out all of the paperwork for before advertising for a tenant, and listening to the podcast tell me "work your strengths and delegate your weaknesses" plus most everything else. My wife has her roles as well and as we get our systems in place she will take over more responsibility. However, part of finding our strengths comes from implementation of systems.
I do enjoy many of the responsibilities listed above, but I'm not efficient at many of them and also don't like some of them. I know that I'll have to find my strengths and delegate my weaknesses, but I'm still in the process of figuring those things out.
I'm curious to hear how YOU have figured out YOUR fit in your real estate investing journey. How did you narrow down your strengths and weaknesses. How have you used delegation and partnership to scale your business? Maybe you are also spinning your wheels and wondering the same thing as me.
My primary goal with this post is to look at the less glamorous reality that some of us aren't naturals and hopefully we can learn from and encourage one another.