Transitioning into Self-Storage Full Time

Transitioning into real estate investing of any kind takes planning. You may be working a full time job and trying to do real estate on the side. You might be a full time wholesaler who is trying to transition from wholesaling into self-storage. No matter what you are currently doing, transitioning from one job to another can be tricky.

Initially, you might be a little overwhelmed. You will definitely be working long hours that will be worth it in the long run. So how do you take off some of the pressure. How do you make it so that you can transition.

First, anything that you can delegate, do it. It might feel like it is too important to delegate. However, the only thing that you really can’t delegate is networking and deal making. Everything else can be delegated. You don’t need to be answering all those e-mails from vendors, your assistant can do it. You don’t need to be deleting all of that spam, your assistant can do it. You don’t need to be sending out canned thank you letters. Anything that you do repeatedly that doesn’t involve deal making and expanding your network should be delegated to someone who is capable of doing the job as well as you do it.

Next, how are you going to pay for them? You can’t afford not to pay for them. You may be paying them $15 to $20 an hour. Are you worth more than that? Of course your time is worth more than that. This is part of why you need to let them handle the things that they can, and you move on to the things that only you can do.

Next you need to make a plan. At what point financially, can you walk away from your current job? At what point do you commit to self-storage completely. You know that this is a great opportunity. However, you need to be able to devote the time to it that it needs in order to grow your portfolio.

You also need to remember that this transition period is temporary. It is very hard to work 80 hours a week over and over and over again. It is hard on friends and family. It is important to remind them that this is only temporary. Show them that there is a light at the end of the tunnel. Invite them, where they can, to help relieve some of the pressure.

You might need to create a plan where you gradually step away from what you are currently doing. If you are self-employed, you need to train someone to replace you. You might decrease your hours at one job while you increase your hours in self-storage. Just remember that if you want to be successful at self-storage, you have to devote the time to it that it needs.

No matter how you transition, self-storage is a great place to be. Hang in there, come up with a plan, delegate what you can! As always, happy investing.