I wrote a post the other day about buying a 2.1 million dollar commercial property. I wrote another post about starting my own real estate brokerage in part of the building. Someone asked me how I am able to do so many things and still have time to write on Steemit. I also have 18 flips going, and write for my own blog https://investfourmore.com.
The simple answer is there is no way I could do it all on my own. I have an awesome team that helps me with almost everything.
Is it really better to hire people or are you just asking for more work?
A lot of people avoid hiring help. They don't do it for a number of reasons:
-They don't want to manage other people
-They don't want to pay anyone else
-They think they can do everything better themselves
-They don't know how to hire people or where to start
I have been through all of those issues myself. They can seem daunting at first, but if you just start working on one thing at a time you can hire help and make your life a lot easier! Here are some things to consider.
Managing other people can be tough, but you probably already manage people in some form or another. If you have a family, friends, or co workers you already manage them. You have to talk to them, deal with conflicts, and help them. The same thing happens when you hire someone to help you directly, except you have more control when you hire someone. They have to listen to you.
It can seem costly to hire help, but it usually makes you more money in the long run. One of the biggest mistakes I made was trying to do all the work on a flip myself. It was miserable and I had my worst year. I realized my time is best used doing valuable tasks. Manual labor is not a valuable task for me. Finding deals, managing contractors, managing my team, are all much more valuable. I try to hire out as many things as I can. When I pay someone else to do something, it frees up my time, which is my most valuable asset.
@investfourmore/how-my-biggest-mistake-in-real-estate-made-successful
I used to think I could do everything better than anyone else. I was wrong! I can do somethings better, but not everything. When I let go of trying to control everything I made more money. I realized I was rushing everything and not doing good work doing it all myself. When I let others complete tasks, they actually did a better job than me. I could then focus on more important things and my business exploded.
I had no idea how to hire people. Most people don't. Guess what? There are resources everywhere to help you with almost everything. You don't have to start off hiring someone full-time with full benefits. You can hire someone part-time and move slowly into delegating what you don't like doing. When things are set up right you will have a manager to manage the people who work for you. You will have freedom. That is why going to work for yourself is about. Having the freedom to do what you want, not working non stop.
https://investfourmore.com/2015/07/31/how-to-make-more-money-by-hiring-more-people/
What is the first step you can take to delegate tasks?
You do not even have to hire someone to make your life easier and free up time. Here are some things to start with:
-Write down all the things you dislike doing. Taxes, mowing the lawn, paint the house, accounting, bookkeeping, calling people, anything and everything you don't like.
-Narrow down the list to the things you really hate.
-Brainstorm on how to hire someone else to do those things for you.
The beauty of this is you may not have to hire someone as an employee. You may be able to contract out the work. You can hire someone to mow your lawn. We are all taught it is manly to mow our lawns, but I hate it. It is repetitive and boring for me, plus I have to maintain the mower, and buy gas. I would rather be planting trees, or designing new landscaping than maintaining it. You can hire someone to do your taxes, to enter data, to do almost anything. The more you hire out the things you hate, the happier you will be, and the more successful you will be.
What does my team look like now?
I have built a decent sized team. I have a project manager for my flips, a team manager for my agents, 4 licensed agents, a bookkeeper, and 3 employees who work on houses. I also hire out many contractors to work on houses, subs, and people to do my taxes, mow my lawn etc. Do I pay them a lot of money? Yes!! But I did not start out hiring them all and paying them a ton of money. I hired them out one at a time and as my business grew so did my team.
I have to let people go once in a while and hire new people, which sucks. But, not everything is easy. I could do it all myself, but I would make much less money and have much less time. I could not go on vacation, or my kids ball games. Hiring the right team is not more work, it is less work and more money.
Below you can see our new office taking shape.
Here are the articles on buying the building and starting an office.
@investfourmore/why-i-am-starting-my-own-real-estate-brokerage
@investfourmore/i-just-bought-a-usd2-1-million-dollar-commercial-property