Time is the most powerful tool of those that invest in real estate. So whether you are just hoping to start investing in real estate, or you are already investing and want more time, how do you achieve it?
Feel Like You Don’t Have Enough Time?
The truth is that you’ll never have more time. We all have the same amount of hours in the day. That applies to hourly, minimum wage workers, the most successful real estate moguls, the most respected business leaders, and presidents. It is all about what we do with that time that is what is important.
Using Real Estate to Hack Time
Without question, one of the best ways to achieve more in less time, and to gain more free time, is to invest and deal in real estate. It offers some of the highest ROI on your time. Even Realtors can leap from old jobs that barely paid minimum wage to making hundreds of dollars an hour. Real estate investors and real estate businesses can make far more per hour. When you calculate the actual hours engaged in wholesaling, a good deal is well worth the time invested. When you get into owning a real estate business and passive income investments, you are leveraging others and money working for you around the clock. This is when you really begin time hacking, and effectively gaining more time.
There Are Only So Many Tomorrows
We don’t have that many tomorrows to get started. Every day we wait means a day less of results. When you start to factor in the compound gains you are missing out on, each day you procrastinate begins to add up and get really expensive. It not only gets really expensive in terms of lost money in your own pocket, but what that could be used to achieve over the long run, and in the time you waste. We just can’t get that time back. It is absolutely priceless.
The first step to hacking time and getting more results is simply starting. You might not have all the answers yet, but you never will unless you move forward. This applies whether you are still thinking about a career in real estate, or investing, or whether you already own a sizable real estate business portfolio. Just get started on the next step today.
Beating Procrastination & Gaining Traction
Procrastination is often due to not knowing where to start with trying to take on something big. If you want to go from renter to millionaire real estate mogul, that’s a big leap. It helps a lot to simply break down that goal into smaller parts and create some form of roadmap. Perhaps you’ve only got enough data to see to the next step, which may simply be more real estate education. That’s okay. Get on it. Take action on that right now. Order a book or a course, or email a real estate coach.
It is also important to note that big ‘overnight success’ is rarely overnight. It is a matter of traction, and snowballing the effects of small ongoing regular actions. That’s true for Facebook, Google, Airbnb, and any other big money success story you can think of. So the best way to get big results is by small daily steps and creating new good habits. People that are in great shape didn’t just find an awesome diet pill, take it for two weeks and then stay shredded forever. Even weight loss or tummy tuck surgery isn’t going to last unless there is a change in habits and lifestyle. No one is saying it is easy to stop eating all carbs and cutting out sodas tomorrow. A better body and health can be a steady path of putting less bad in and developing better habits. Eating a little better every week, and exercising a little more. The same goes for money and time, and real estate. Try spending a little more time in real estate each week, being a little more prudent and effective with money and investments, and the results will come.
Making the Most of Your Time
Real estate is one of the best ways to get more out of your time. But it alone isn’t a magic bullet. It is like there are many time management gadgets you can download, but if you spend all your time downloading new apps and get too busy just playing with those apps you risk being busier.
Think about how your moguls and mentors use their time. They always demand the most out of their time. The highest and best use of their time. So what does that mean that they may not spend time on? What are they likely to spend more time doing? For example; it is highly unlikely they are spending their afternoons watching soap operas on TV, even if they have the luxury. They are not taking tenant phone calls in the middle of the night. They are not doing basic admin tasks. They are focusing on the factors that actually make money, and which take them to the next level. With this in mind, how might you better use your time? What could you do less of, and more of?
Graduating Through Real Estate
Just being ‘in real estate’ may not be the best you can do, or be delivering your full potential. You might start out as a Realtor, mortgage broker, or title company rep, then move up to wholesaling real estate or rehabbing houses. Then perhaps turning what you have been doing into a business, or working in turnkey rental property investing, or loaning your capital to other real estate investors. Always be looking for ways to optimize your time, and enjoy more time leverage.
While you shouldn’t wait for this, always be looking out for tools and vehicles that can maximize your time by delivering more time and money power on everything you do. LLCs and self-directed IRAs are a great example of this. They can let you keep more of your gains, and compound those gains over time.