Working Too Much In Your Real Estate Business–Why You Should Stop

How much time are you putting into your real estate investing business? 40 hours a week? 50 hours a week? I’ll bet it’s closer to 60, 70, or even 80 hours a week. Problem is: you’re going to burn out really soon if you keep that up.

You’re working too much in your real estate investing business. I want you to stop.

Notice I didn’t say, “you’re working too hard” but I did say, “you’re working too much”. There’s a difference.

Chances are, you got into real estate investing business because you bought in on the promise of financial freedom and passive income – and the amazing lifestyle that comes with that. But chances are, you haven’t achieved that yet.

Let me summarize the problem that’s pretty common among real estate investors: You spend A LOT of time each week in your investing business. You’re trying to do deals, you’re driving for dollars, you’re talking to sellers, you’re talking to buyers, etc. That’s great. But most investors end up spending a lot of hours each week in their investing business, yet they don’t reach their goals. Here’s what you can do about that…

First, know your numbers. Set a very specific goal of the amount of money you want to make. Start with your yearly goal then divide that amount by 12 to find out how much you need to make each month. Then divide that number by the average amount of income you make on each deal. That will tell you how many deals you need to do in a month.

For example: If you want to make $240,000 a year, that’s $20,000 a month. If you average $5,000 per wholesale deal then you’ll need to 4 deals a month.

Second, build a plan around those numbers. Now that you know how much money you want to make and how many deals you need to do, then build a plan that outlines the actions you need to take each and every day to get you that number of deals.

For example, if you need to do 4 deals a month, maybe that means you need to make 20 offers a month, which means you need to have 200 leads a month, which means you need to mail out 2000 postcards a month. (I’m just using some examples here – your marketing results might differ from what I’m using as an example).

Third, set a specific amount of time to work in your business each day. There’s a lot of people (including myself) talking about how important it is to work ON your business instead of IN your business… but if you’re just starting out then I realize that you might need to put a bit of time IN your business to get it off the ground. Set the amount of time you need to do each day in your business to achieve what you need to achieve.

For example, add up the amount of time, total, that it takes to mail 2000 postcards, talk to 200 sellers, make 20 offers, and close on 4 deals a month and then set a daily limit to work those things. (Again, this is just an example so there are probably other things you need to do as well).

Once you have a very data-driving plan, then just start working that plan. Over and over. Every single day. You can do it. Be strict with yourself and don’t spend more time each day than you set aside. Stay focused. And then sign off for the day and go spend the rest of your day with your loved ones.

As long as you achieve your activities each day during your allotted time, you should have time left over to enjoy the investor’s lifestyle that you were initially attracted to.