As a real estate investor, being busy is perhaps the best thing that can happen to you. It may not feel that way at the time, but when you are busy you are making money. How you deal with these overwhelming times will go a long way in determining how successful you are. If you mismanage this period and act frantic, you can damage contacts, botch a deal or fail to return calls from new leads. Conversely, if you get through this time unscathed and lean to handle being busy, you will see your business grow by leaps and bounds.
The most important quality to have when you are busy is to keep a calm and clear head about you at all times. Working on two new deals while you are convincing another owner to close can be stressful, but it is ultimately what you want. The deals are surely important, but they are not life and death. If you can learn to keep calm and work on one task at a time, it will help you in the process. Multitasking is fine, but if you work on four tasks at once without really doing anything at all you are not getting anything accomplished. Always keep moving, but start by taking a deep breath and knocking one thing off at a time.
The key to this step is to make a list and prioritize what you need to get done. If you have a deal that is closing tomorrow, it should take precedent over seeing a property for a potential new deal. It is easy to get sidetracked and overwhelmed when you have a few pressing things that need to get done. Before you go to bed, you should write down a list of what you need to get done and when. Additionally, you should figure out how you are going to do them. The more detailed you are in how you are going to handle everything, the more proficient you will be.
When you are busy, it is important to rely on the team around you. If you are in the middle of a rehab, you may need to trust that your contractor will handle minor issues without you being present. If you are nearing a closing, you may need to ask your attorney to handle a larger work load. This doesn’t mean that you should put tasks on other peoples laps, but instead of micromanaging and trying to do everything you can loosen up the reigns and let the people around you do what they know how to do. It is also OK to ask for help or ask questions if you are stuck on something. Every investor should have a mentor or fellow investor that they can turn to if they have a question or issue. Not only can you save hours, in some cases, but you may find a better way to do things.
Even though you may be busy, it is important not to convey that to the people around you. Nobody likes to hear how busy they are from a bartender or server when they are at a restaurant. If you don’t return a call for a few days and tell the person on the other end of the phone it was because you were too busy, they will certainly feel as if they aren’t important to you. You need to remember that everyone that calls you or reaches out to you is the most important call you will make all day. They don’t care if you are busy or not . If you ignore them, you can forget about working together again in the future. All it takes is a quick text or a return call to solve most problems. Nobody is too busy that they can’t find five minutes to strengthen a relationship.
The thing about being busy is that it will usually fade away. When you are slow, you will cherish the times that you had multiple things going on. Experience will help you learn what to do and how to handle being busy, but you shouldn’t expect it to last forever. That is why it is important to take care of every phone call and every new deal as if it was the only one you were working on. You can close three deals in a week, but if you have nothing to back it up with, that success will be very short lived. One of the ways to grow your business is by pushing forward when you are busy. You may have to sacrifice a few nights out or get up earlier than you are used to, but the rewards are worth it.
Dealing with an avalanche of calls and deals can be very overwhelming, but it is a great time in your business. Embrace the fact that you are going to scramble around and tackle a few different things at once. If you are organized, calm and confident that you are in control, you will find that you are more than equipped to deal with it.