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Another week and no new property.....
Are you actively searching for your next deal but tired of getting outbid? Or realizing that the property already has an accepted offer...even though it JUST went on the market? UGH! Well, this email is for you.
There is ALWAYS something we can be working on within Real Estate Investing Business!
For me, here is the lifecycle of how I buy properties: Purchase property, Fix up what I need to, Get tenants settled, Assess Strategy, Start Looking for the next Property. Now, depending on your strategy, yours might look different than mine, but will still have some of the same components. Along the way, some times are just busier than others. Screening tenants, construction, finding the right property are all time consuming activities, but once my mortgage broker gets my paperwork, I feel like I'm just stuck in a holding pattern!
NOW is the time to get Organized and READY!
Regardless of your opinion of if it is now a good time to buy or a bad one, there are still plenty of things we can be doing to prepare for our next property
Here are a few tips to keep you moving:
1. Identify Each Task
What do you need to be doing more of right now? Analyzing more deals? Making more offers? Networking with more possible team members? Whichever it is, make a specific real estate list of all the steps you need to take to get there. Write it ALLL out. Then, prioritize your list and start checking off boxes!
2. Take Consistent Action
Set aside a short period of time every day where you can focus clearly on just one of the steps that you had on your list. It doesn't have to be a long time. When I first started analyzing deals, I set aside 15 minutes a day to go through a deal. I learned so much during just those few minutes a day. Be focused, consistent, and efficient. Remember, education is a part of this! Add our Lady Landlords YouTube Channel to your daily routine!
3. Delegate!
If you don’t have to do it, don’t. Hire a VA or find another lady looking to invest that you can share responsibilities with! Taking a few small things off your plate will really be a big relief! And will give your brain more space for the really important stuff. 😉
4. Set Deadlines
For each step on your list, pick a deadline to have it done by. As you make it to each of your deadlines, it will add up to massive action! Organize your financial paperwork, identify your buying criteria, finalize your team. Whatever it may be, make sure to give it a time point to be complete by to ensure your business is always moving forward. Listen here to the Lady Landlords Podcast episode as this week was all about Time Management and making everything work in your busy life.
5. Breathe!
Yes, life can get overwhelming and that is okay. Stop. Take a break. And come back stronger than before! 😀
Need help finding your next deal? Get the Help you need here!
Happy Deal Finding!