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Streamlining Real Estate Investments with Virtual Assistants
Being successful in real estate investing is no easy thing – it's not just about mastering facts; it demands a toll on physical, emotional, and philosophical levels. Amid the chaos of decision-making around buying, selling, renting, or rehabbing, investors often find themselves seeking ways to simplify their operations. While employees can be a valuable asset, they also come with a hefty price tag.
In my journey as a real estate investor, I discovered a game-changer – virtual assistants. These remote workers, scattered across the globe from the Philippines to Egypt, offer diverse skills and language proficiencies. Some business owners have found success hiring assistants from South America, benefiting from similar time zones and language capabilities.
The turning point for me was enrolling in a course on hiring and managing virtual assistants, created by Anna Li. Li began hiring virtual assistants to scale a thriving wholesaling company in Philadelphia. At the time, she was living and working full time in Switzerland. She later leveraged her experience to teach others how to harness the potential of virtual assistants globally.
One crucial lesson I learned was the importance of timing. My initial hire, working from 5 pm to 3 am, was aimed to provide me with more family time. Unfortunately, having a new employee during these hours forced me to also train during family time. I also realized that if I didn’t leave my assistant with enough tasks, they ended up sitting around for hours with nothing to do and no one to ask for help. My next hire worked during business hours, aligning with peak activity times and supporting other team members who were also balancing growing responsibilities.
I have spoken with many entrepreneurs who are opposed to using virtual assistants on many levels. As someone who has hired and worked with many, I’ll tell you that these employment opportunities are great for both sides, just as every business transaction should be. Many of the virtual assistants that I have hired have told me stories about getting yelled at constantly (one worked at Comcast, if you can imagine) and almost all of them have had stories of either not getting paid, or not ever knowing when they would get paid. Like you and me, they want to do a good job and be rewarded for it. They want to take care of their families and better themselves.
Over the years, my virtual assistants have become an integral part of my team, very much like family. Despite skepticism from some entrepreneurs, my experience emphasizes the mutual benefits of these employment opportunities, which every business transaction should be based on. Virtual assistants, like any employee, seek fair treatment, timely payment, and a chance to excel.
As your business expands, consider virtual assistants as an option. Virtual assistants can handle calls, texts, appointment scheduling, and more, contributing to increased efficiency. My advice is to hire thoughtfully, offering a full-time position even if the workload is initially light. Guaranteeing steady pay attracts top candidates, and services like those provided by professionals such as Li can enhance your success.
Consistency is key – create a work environment that you would want to show up to every day. Virtual assistants can be a valuable asset, streamlining your real estate investments and contributing to the growth of your business.
VAs have become integral to my business. Your observations about how VAs can be treated by others are totally accurate and very unfortunate.
It's incredible how much you can get done by simply:
- Treating your VAs well, like people with feelings and families to provide for (because they are!)
- Paying them on time, in full, at a fair rate
- Giving clear instructions, setting expectations, and providing training for relevant tasks
Yes! Precisely the mindset needed to thrive with virtual assistants.
I primarily work with virtual assistants in the Philippines. Just because their hourly pay is less than the standard in my local market, that doesn't mean they deserve any less dignity. Treat them with the respect you would expect from an employer, and you'll often receive consistent loyalty in return.
To that point, be a good boss. Not just friendly but one who prepares them to run your processes with clear expectations and benchmarks for success. VAs aren't a silver bullet to solve poor processes. They should be guided and rewarded as you work together to create a successful business.
I agree. Take great care of your VA's and they will be very loyal and work hard for you. Great discussion!
Great post Julie! We are able to run 4 different businesses with the help of VAs.
That's awesome!!! Same here!
I am a STR VA/Co-host looking for another client, preferrably Gulf Coast location. I am US based.
@Julie Gates Thanks for your post. I'm looking to hire a VA at ~5-10hrs/week and there are a lot of companies that offer these services. How did you find your VAs, any recommendations?
1. Go to onlinejobs (dot) ph. I cannot post a link here. I have zero affiliation, just telling you my process. You'll have to pay to post, it's $69/month. Just turn it off before it renews and that's all it costs you.
2. Put up an ad, and be very very specific. I'm looking for XYZ skills. I will pay $ per hour. You will get the best employees if you offer a salary position, these guys work hard and they need stability. I usually need them 9-5, so I'll offer 40 hours guaranteed. That draws the best candidates (you'll get a lot of applications). I have also offered 10 or 20 hours. You can offer gig work, the sky is the limit. Just be honest in your ad and honor what you say.
3. Request specific things in the ad, such as a link to a resume' without a password and must mention that you worked with Booking, whatever you want them to know or have experience in. I say in my add... "I only accept applications from applicants with certification in Quickbooks" and then if their CV doesn't state this or there is no certificate, I delete them immediately. You want someone who reads the ad and follows directions, so use that to weed out the people throwing CV's around with no real English comprehension. If they will be on the phone, request recordings of them as part of their application so that you can check their English. This is very common and not offensive. It's important.
4. Interview the top candidates via zoom. Make sure they have the skills you want and are ok with the hours. They must have a great computer and internet and backup internet. You want someone with a nice headset so that when they are on the phone there is no background noise.
5. Pay using wise (dot) com and pay as agreed, typically every two weeks. These guys have told me so many stories of people hiring them, using them and not paying them. That's not ok. Be aware that they are needing the money to feed their families. They are counting on you.
I have so many wonderful employees from the Philippines. I cannot recommend them enough. If you are kind and loyal, they will be kind and loyal.
Quote from @Julie Gates:
1. Go to onlinejobs (dot) ph. I cannot post a link here. I have zero affiliation, just telling you my process. You'll have to pay to post, it's $69/month. Just turn it off before it renews and that's all it costs you.
2. Put up an ad, and be very very specific. I'm looking for XYZ skills. I will pay $ per hour. You will get the best employees if you offer a salary position, these guys work hard and they need stability. I usually need them 9-5, so I'll offer 40 hours guaranteed. That draws the best candidates (you'll get a lot of applications). I have also offered 10 or 20 hours. You can offer gig work, the sky is the limit. Just be honest in your ad and honor what you say.
3. Request specific things in the ad, such as a link to a resume' without a password and must mention that you worked with Booking, whatever you want them to know or have experience in. I say in my add... "I only accept applications from applicants with certification in Quickbooks" and then if their CV doesn't state this or there is no certificate, I delete them immediately. You want someone who reads the ad and follows directions, so use that to weed out the people throwing CV's around with no real English comprehension. If they will be on the phone, request recordings of them as part of their application so that you can check their English. This is very common and not offensive. It's important.
4. Interview the top candidates via zoom. Make sure they have the skills you want and are ok with the hours. They must have a great computer and internet and backup internet. You want someone with a nice headset so that when they are on the phone there is no background noise.
5. Pay using wise (dot) com and pay as agreed, typically every two weeks. These guys have told me so many stories of people hiring them, using them and not paying them. That's not ok. Be aware that they are needing the money to feed their families. They are counting on you.
I have so many wonderful employees from the Philippines. I cannot recommend them enough. If you are kind and loyal, they will be kind and loyal.
Great post. I am in the process of hiring our first VA, we have tried phillipines and that part of the world and now are focused in central and south america because of time zone differences etc. Costs are a little more but I have also had several people have good luck. I am in a group that 2 members run VA companies where they vet them for you. As expected pay more for them but I have had a lot of time wasted trying to interview and find the right candidates.
Thank you @Julie Gates for your detailed response and transparency, super grateful 🙏 Wishing you continued success!
And @Chris Seveney I'm also considering LATAM because of time zones and having Spanish would add value. Curious to know more about those two groups if you're willing to share.
Quote from @Justine Blanchet:
Thank you @Julie Gates for your detailed response and transparency, super grateful 🙏 Wishing you continued success!
And @Chris Seveney I'm also considering LATAM because of time zones and having Spanish would add value. Curious to know more about those two groups if you're willing to share.
sent you a private message
