Maximizing Your Time

[Steve K]

Thought I’d get the consensus from the rehabbers here who are doing at least a few flips per year.

How are you maximizing your time when it comes to finding rehab deals? It’s been incredibly time intensive for me to find deals, view the property, write up the contract and chase the listing agent and for flip properties the results haven’t been too good considering the time invested.

Some investors have recommended hiring a drive by person, others recommend simply staying on course, and some have found the idea of visiting every property comical and often make their offers sight unseen.

Before I bother looking at any property I pull it up on MLS, use google earth and street view and any other resources I can find. While this helps whittle down the list of potential purchases it really doesn't save tons of time.

How do you handle this?

[Ned Carey]

1) Getting Things Done is a great book by David Allen. It is a lot of material to absorb so I listen to the audio version on my iPod while walking. It has helped me be more clear about my priorities.

2) Develop good habits. Often successful people don't look like they are working any harder than anyone else. This is because they are in the habit of doing the most important tasks. the highest payoff stuff is automatic to them.

3) Have an accountability partner. Having someone or a small group to hold you accountable to what you say you are going to do can provide the motivation to get it done.

4) Delegate - find people to inspect houses for you. As others have said get agents or brokers to do more in the way of deal finding. Work with wholesalers. Not the wana-be, with the bogus deal, but get reputation as a deal closer with the real players. Use a virtual assistant. I know there are things in your business that you assume you should do yourself. Challenge that notion and put some thought to what you can pass off to others.

Good luck - Ned