Daily Actions for Building Your Business?

[Tony Robinson]

Hello Everyone! 

I'm new to real estate entrepreneurship and haven't closed on my first deal yet. I've submitted a few offers in the past month, but haven't had any accepted yet. 

As I continue down this path, I'm looking for ideas on the daily actions I should take, that will have a direct and positive influence on the achievement of real estate business goal. 

Here's my goal: To have a real estate business that generates $1,000,000 in personal a year, by 2026. 

My strategy is to focus on Buy and Hold investments out of state (I live in Southern California), and wholesale deals I come across that aren't a good fit for my own portfolio. My long term focus is multi-family, but I'm happy to include SFR in my first few deals, as I continue to learn the ropes.

What I've Done So Far: I sent my first batch of direct mail pieces last week (about 300 letters) and have been fielding phone calls. I'll continue using direct mail as my main source to find deals. I'm also looking through the MLS almost daily, to find potential deals there.

I also found a property manager, an agent, a bank willing to lend on properties that don't require a massive amount of rehab, and two possible contractors. 

Here's My Question: What daily activities do you feel, are the ones that are most likely to help me achieve my goal? I've already committed to continuing to send letters on a regular basis. And I'm continuing my education by (a) taking action and submitting offers (b) educating myself as I come across new obstacles. So I'm curious what everyone else is doing out there, that they feel has had a direct and positive influence on the achievement of their real estate business goals. 

Looking forward to hearing everyone's responses! 

[Sean Ybarra]

@Tony Robinson

Hey Tony, great questions and I’d love to connect since I’m also based in SoCal. Maybe we can work together.

If you’re doing this full time, you should spend at least 2-3 hours prospecting each day as well as shopping for new vendors, bankers, lenders etc. there’s always a better rate to be had.

I spend about another hour or so marketing, fb ads, generating mailers(i send out about 300-500 a week) I can help you find some ways to reduce the cost on this as well as a more time efficient way if you’d like.

I also set up alerts on Zillow, realtor.com, LoopNet etc for properties that match my criteria.

I also like to network with agents, loan officers and bankers since the may have an off market deal or a bank owned property you can get on the cheap.

What kind of properties are you looking for ??