| One thing you will quickly see when you get into | | | | lowball offers to the MLS and ads on Craigslist to |
| Real Estate investing is that there is a lot of work | | | | get people to call in. Then we can spend hours |
| to do in order to get a deal and weather you are | | | | each day dealing with the replies from Realtors |
| a rehabber or a wholesaler, you still have to do a | | | | and the calls from sellers. All to find a deal, and |
| lot of work before it is sold. In the beginning of | | | | that is when everything happens at once! Now |
| most investors businesses they usually have | | | | you are trying to do daily tasks of putting up ads |
| more time than money and so you end up doing | | | | and making offers on the MLS, dealing with emails |
| everything yourself in order to keep your costs | | | | and calls on top of putting the deal together so |
| down and maximize your profits. Heck, advertising | | | | you can either flip it or rehab it. What will most |
| itself is expensive enough, and if you have little to | | | | likely happen is that the lower tier efforts stop |
| no money to start with you are forced to do | | | | while you focus on the tasks that are making you |
| everything yourself just to get your first deal. | | | | money and when you make that money, you |
| This is fine and almost everyone starts off that | | | | have to start all over again...blahh:P What a |
| way but you don't want to always stay that | | | | freaking hassle! |
| way, even if you can make a larger piece of the | | | | So this is what I suggest;) After you make your |
| pie by doing so. Why is that though? Why | | | | first or even second deal and you now finally |
| wouldn't I want to do it all myself, if I can save | | | | have some money to play with, hire a Virtual |
| money and make more per deal? There is a very | | | | Assistant! When we did that our production |
| simple reason WHY you want to pay someone | | | | skyrocketed and the amount of work we had to |
| else to do certain things and why it is important | | | | do decreased...and all of that work was the boring |
| for you to focus on others. The simple answer is | | | | work we hated doing anyway! Now we have a |
| not all tasks of a Real Estate investing business | | | | lady over in India who has a Masters degree |
| are "worth" the same. Saying that same sentence | | | | working for $2.25 an hour making offers on the |
| in another way, many tasks are simple enough | | | | MLS. Did you hear me there...she has a dang |
| that anyone can do them while others require | | | | Master's degree and working for $2.25 an hour! |
| thought, innovation, leadership and communication | | | | Try seeing if you can get a homeless guy to |
| skills. | | | | work for that cheap. Ha! Even if you could I would |
| If you look at any corporation, the lowest paid | | | | bet a month's wages he would not put in the |
| workers are usually the no skilled workers where | | | | same effort and enthusiasm as the lady we have |
| their job does not take any special schooling to | | | | in India with her degree;) She is ultra productive |
| do, and those jobs pay the least. Anyone can be | | | | and very intelligent and is able to send out 50-60 |
| taught how to clean a toilet:P The middle tier of | | | | offers to the MLS in a matter of 2 hours. We |
| workers usually require some sort of degree or a | | | | started off with her working 10 hours a week |
| special skill set to do their jobs and those workers | | | | and she was worth her weight in gold! Think |
| get paid more as a result. The top tier of any | | | | about it, we got roughly 250-300 offers each |
| corporation are the people with the innovative | | | | week for about $25. As time went on we have |
| ideas, leadership and communication skills to make | | | | had her do more work, while we focused on the |
| it all happen. As a result, they get paid the most. | | | | innovative tasks (that are also more fun and take |
| Your Real Estate business is the exact same thing | | | | less time)...nice! |
| as any corporation, so treat it that way! | | | | Essentially Virtual Assistants are people who can |
| So going back to my original question of why you | | | | do any single task you ask of them that can be |
| don't want to do this yourself. It is simply more | | | | done on a computer with an internet connection. |
| productive for you to be focusing on top tier | | | | Someone sending an offer to the MLS or putting |
| tasks and contract out the bottom and eventually | | | | an ad on Craigslist does NOT need to be in my |
| middle tier tasks for others to do. This is because | | | | office, nor do I need to see them to know they |
| of something called "hourly wage". If you spread | | | | are doing their work. We have her use our |
| all of your time doing all aspects of the business | | | | company email to send out the offers and we |
| you are essentially taking your hourly wage and | | | | can monitor her progress by simply looking in the |
| averaging it out from the entire pie. If on the | | | | sent folder to see what she is doing...so very |
| other hand you only do the top tier tasks and | | | | minimal supervision. So, this person can be |
| contract out the rest at a cheap price, you | | | | anywhere in the world! How many of us wanted |
| produce more and your hourly wage goes up. | | | | to work from home with our jobs but the bosses |
| This is the main difference between a sole | | | | never seemed to be on board for it? |
| proprietor and a business man and why the | | | | Now we can be that "cool" boss and reap the |
| business man will end up making more. I don't | | | | rewards as a result! Once you have someone on |
| know about you, but I got into this business to | | | | board, they can do all the menial tasks and let |
| make money AND have a ton of free time! | | | | you focus on the tasks that will make you |
| Let me give you a good example of what I am | | | | money like putting the buyers and sellers |
| talking about. My partner and I mainly market to | | | | together! The larger you get, the more tasks you |
| two different places to find all of our deals...the | | | | will want to subcontract out to your Virtual |
| MLS and Craigslist. Both of these places are | | | | Assistant. Eventually you can get an "apprentice" |
| essentially free to market to (yes, I know the | | | | Real Estate investor who can do everything for |
| MLS costs money each year but lets just assume | | | | you, including manage your Virtual Assistant. You |
| after the fee is paid it is free from there...deal?). | | | | can pay him a wage plus a percentage of the |
| So, we can spend hours each day sending out | | | | profits. |