Rehabbers - whats on your Daily To Do List?

Question

hey,

what are you guys doing to stay busy? The busiest time of my work is when we have projects that we're working on, but even then it's not THAT busy. I hire the contractors to do all the work and all I do is go pick out the items @ Home Depot and stop by 2-3 times per week to make sure things are going as planned. An issue could be we don't have many projects we're working on. We had 3 close out last month and currently just have 1 under contract to sell and 1 under rehab.

On a daily bases, I'm screening 10-30 properties a day to see if it's worth offering on or not. A little admin work and I'm free as a bird. This is a personal thing, but I hate having time on my hands.

The only other thing I try to do in my free time to stay productive is being up to date by reading on sites like this and books. Something else I'm debating if it's worth doing or not is calling other Brokers about their listings so I can be considered their "hot" lead so they can call me when new listings of theirs pop up. I guess it's a form of networking to me. I have MLS access already since I'm licensed so I don't do that. Maybe that's one of the missing pieces to my puzzle.

Anyway, any input would be appreciated - thanks!!

James Vermillion · Answer

I spend most of my time looking for those next deals but I also manage our website, keep the books up to date, track expenses on our ongoing projects and research additional investment opportunities in my market.

When I do not have the money to buy additional properties I continue to look for deals, keeping a log of the properties that look promising in case something changes or we sell a property.

Additionally, we are always working on enhancing the tools we use: an estimating software we are creating,  property analysis tools, 5-yr plan, etc.

Tony Nguyen · Answer

You can't go wrong with Brian Tracy. Off topic but a book of his I LOVE is The Psychology of Selling. Changed my life (and bank account)

:)

Brooks Conkle · Answer

Not cheesy at all!  I actually do something similar!  I read a book called Eat That Frog (talk about cheesy!) that advises to knock out the hardest and most difficult tasks first.
So while it's definitely easier for me to sort some papers and return some emails, I try to knock this out first!
Still daily working on this one  :wink:

Manny Chaidez · Answer

Tony, drinking coffee is what allows me to continue my task in the rehab business. It is endless of what needs to be done from screening properties on the MLS and on search engines like Zillow and Redfin, management, marketing (twitter and facebook),and networking with like minded people online.

Tony Nguyen · Answer

James - thanks for the info. It sounds like website I should have =) We went down that path before but started to gear away from it because of so much hard money being availale. It may have been a bad decision though, i may have to revisit that topic.

James Vermillion · Answer

Tony, not exactly.  Most of our website traffic comes from those who are handed our business card.  It tells a little bit about our company, about us as individuals, and has a section that shows our current and past projects.  We also use it for potential joint venture partners to see what we have done and what we are doing.  We have some ideas for the website that will make it more useful to us which we will be implementing in the future.

Tony Nguyen · Answer

Brant - have you done any marketing yourself? What is your fav type?

Tony - nice name. my challenge is limited inventory. Your suggestion is expanding my market which is smart. I'm going to do this. thanks for your advice!

Kevin - when i expand my radius, of course it's not going to be 50 miles out. Maybe in different cities. Since you're from the area, I'll tell you that I'll consider Kissimmee to maybe sanford.

James - when you say you manage your website, what kind of website is it? Is it similar to a webuyhouse.com website?

Brooks - i know what you mean. This may sound cheesy, but about 18 months ago, I started something called my DAC - daily action checklist. From the first minute of working, i'd knock out all my task on the DAC (which includes calls and emails), I would then revert to Growth Activites. This let my mind rest knowing all the pressing issues have been completed which means I can focus on Growth. After a few weeks, it became a habit which I still do today. Good luck.

Brooks Conkle · Answer

I also get the feeling that I've got plenty of time and everything is under controls, but I know that there is ALWAYS more that I can do!

- find more private money
- culminate relationships
- find more deals
- get new investor buyers
- work on web strategy

These are the biggest items.  For me, the problem comes when I'm not organized the night before with EXACTLY what items I want to attack in order to GROW my business.
Unfortunately, I tend to do the pressing items and then spend the rest of the day 'reacting' - to calls, emails, ideas, etc.
I usually don't spend the rest of the day ATTACKING a growth plan.

Does anyone share my pain at times?

Kevin Priester · Answer

Tony,

How far did you increase you radius? And how did you overcome the obstacles that came along with inspecting those properties?

Tony Salazar · Answer

Hi Tony. 
Is your challenge not enough inventory or funds to acquire more properties?
If the answer is limited inventory, then you may need to increase your search radius and go further out to other neighborhoods or cities. That's what I recently did in order to find and close another property. Have you done this?

Rehabbers - whats on your Daily To Do List?

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