Every Real Estate Investor Should Have an Assistant

  As Real Estate investors, we all get into real estate to make money.  This is explanation—but not justification—for many investors’ reluctance to pay for an assistant, trying instead to run all the facets of their business alone.  Here are a few reasons why hiring an assistant should be approached like any other profit-generating opportunity: something which requires a principle investment, but which will ultimately result in much greater returns.  Having an assistant means more deals, more professionalism, a bigger business, and a better life.

      The first and most tangible benefit you will see with an assistant will be an increase in the number of deals you find and do.  We all know that marketing is the most important part of generating and sustaining cash flow in the long-term; unfortunately, marketing involves a lot of tedious, mind-numbing busy-work (stuffing envelopes, writing emails, making countless phone calls, generating lists, etc.).  Enter an assistant, whom you will have to train to do all of these things right, but who will ultimately expand your ability to market constantly, and dramatically increase the number of people that your business reaches.  More qualified people equates to more deals, and more deals equates to more money.

      When you show up to explore, negotiate, and close these deals, you will discover the second benefit offered by a good assistant: it makes you seem much more professional.  Regardless of the facts, people tend to view an assistant as a benchmark of success and legitimacy.  When a buyer or seller receives a call from your assistant, they are more likely to feel confident in your skill as an investor, simply because you have done well enough to afford employees.  Similarly, private lenders are sure to feel more assured when they write a check to your business.

      Of course, your business will grow if you hire an employee.  If you are both lucky and choose to do so, it doesn’t have to stop there.  Your assistant will help start to increase the rate of your returns, and you will probably find yourself able to afford to delegate even more of your responsibilities.  As your skills in training, team-building, and management develop, you can hire and organize more and more employees to do your legwork and match your increasing returns.  Although it’s not common, this is how real estate empires are born, and they never survive without an investor who’s willing to shell out for employees.

      Finally—and this one can’t be overstated—having an assistant will improve your quality of life.  Stress is rooted in busy work, mountains of paperwork and deadlines, and a chronic lack of time to enjoy your personal life.  When you have someone by your side, working to help you, it can take an enormous amount of the load off your shoulders, relieving your stress and freeing your docket.  Not only will your business earn more money, but you will also find yourself with more free time to enjoy that money with family and friends.  It all hinges on finding an honest, hard-working assistant and investing in their development. 

What is your opinion?

 

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