I'm not busy enough... Ideas on how to use my time more efficiently?

Question

My typical day consists of waking up at 6 am, going to the 2 houses I'm currently rehabbing and making sure everything is going smoothly and making offers on other houses to purchase. I typically purchase through agents I've established relationships with.

I'm usually in and out of my office during the day, and to be really honest, I have a LOT of down time. I usually try to call new agents and make offers on houses, but there's only so many available. I'll kill time by posting ads on craigslist or reading BP, but I hate the feeling "wasting" my day and I want to make as much as I can out of every day. I'm not trying to be  a workaholic, but I want to work 12-14 hour days and push my business to the next level.

I have enough money that I can take on big rehab projects if I need to, as well as construction crews and the time for it. I've been thinking of ways to expand and make the best of my time... Any suggestions?

I've been thinking of starting a mailing campaign for 60 - 90 day lates, sending 3 letters with one of the mailing companies. I've sent letters to absentee owners and didn't get anything, but I know that even a sample of 1,000+ isn't enough. Aside from mailings, I'm still thinking of ways to be more productive. Any thoughts or opinions from the great minds at BP?

Curtis N. · Answer

I wouldn't say having time each day to read BP is a total waste.  You should be posting and helping others not to mention educating yourself.

If you have the cash, look at making secured loans to other rehabbers as you suggested.  Since you have the time to go and check up on them that should make it a relatively safe investment for you.

Anthony Dadlani · Answer

I think the best option is what Darren Hazco said, find other rehabbers and partner with them. You have the capital and time it seems but need more projects to work on. You can share the tasks and/or capital investment needed.

Another option is to mentor/groom someone to partner with you. But I think the first option is much better for you.

Best of luck in all your endeavors.

Matthew Rutledge · Answer

I would also love to hear about this.

Anthoy James, have you considered golf?  Most people will agree that golf courses are beautiful.  I have heard several people comment about the networking, team building, and overall bonding that is possible on the golf course.

That, or just have a couple kids...

-matt

Aaron Yates · Answer

Anthoy James, I gotta ask. How do you have this much time on your hands?

Married? Kids? No big kid toys? I wish my problem was too much cash and not enough projects. I have the exact opposite. Too many projects (at home), kids, wife, toys, but not enough time and but mainly not enough capital to pick up properties more often.

Wanna trade??? ha ha ha... but seriously, want to...  :o

Marcus N. · Answer

What's the new law? I can't find anything.

Dawn Anastasi · Answer

Anthoy James what state/region are you in?

Kyle B. · Answer

Anthoy James, I definitely agree with the last paragraph of your post. Sounds like you have the money for a project, but are not finding enough opportunties - so I would definitely invest in a marketing campaign. As mentioned by others, you can also partner with people who have already found a deal but lack the capital - given all the people on this website who post about help with financing, this category of people seems to heavily outweigh the group of well-capitalized investors.

Maybe also look into developing a marketing website if you have the money and resources to do so. For me personally, this has been in the back of my mind for when I really get my business up and running (which hasn't happened yet) - for now I've just been utilizing the MLS as it sounds like you are as well.

Best of luck though!

Colin Hatzmann · Answer

Anthoy James

You could diversify your business and learn other trades.  Examine other money making opportunities outside of real estate.  Just a thought.

You could mentor me into my first investment property, just another thought. :D

Good luck.

Tom Goans · Answer

Anthoy James,

You Should Finish Each Day A Little Smarter
Than You Began the Day

I set aside several hours every day to further my education, as does Warren Buffett.

Just yesterday I learned Colorado passed a new law that greatly affects property ownership, and real estate investors, and community associations.

Anthoy James · Answer

Thanks for the replies everyone!

I've thought about doing JV, still looking for partners! Most of the people I know in the business are doing their own deals, but I'm not against partnering up with a few people I trust.

I'm not busy enough... Ideas on how to use my time more efficiently?

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