Keeping Adminstrative/Infrastructure Seperate from Taking Action... Learn Time Managment

While I spend plenty of time on the administrative side of the business, you can't make any money doing simply paperwork. The best feeling (well, maybe the fifth best feeling, LOL) is getting your first deal under your belt. You will always have time to do the administrative portion of the deal later. Just make sure you have the correct forms that you need upfront as it makes life simplier on the back end.

Like many experienced investors on this website, I suggest you spend your time looking at FSBOs and marketing the hell out of your business. Pass out cards, call on houses found on websites, newspapers and referrals. Learn the language, talk to referring sources, set up your network, ask them if you can do anything for them instead of asking if they can do something for you.

Treat real estate as a business and it will make you a king.
Treat real estate as a hobby and it will treat you as a pawn.

I totally agree with you Bill, unfortunately I can't rmember the last time i saw a FSBO property anywhere that is close to me. I focus on REO properties and ESTATE sales which essentially are FSBO's. You have to be creative no matter where you are. But yes networking and marketing your business are all important and will all best be done by going out and being in the field under live fire doing it...

There are FSBO and REO properties all over my area!

You are lucky! We virtually don't have alot of vacant properties or FSBO's. REO's are no problem around here but either way you still have to go out and find em. You still need to go out and find them because they are still out there.

Good job guys and good luck on the contest.

Looking for properties in GA because there are a boatload of FSBO's out here.....I mean it's insane!!!

Thanks for the good luck wishes. I cannot wait to see how this all turns out. I hope to meet all of you at the EDGE 11!

Time management is something I struggle with so much. When I did that exercise Dean gave us to write down everything we do all day, I did it LITERALLY, and, what I found is although I start out very productive, I am interrupted by the kids once every 3 minutes on average... REALLY puts a damper in time management! SOOOO...

I stay up until 1, 2 or even 3am to get all the work done (and yes, I'm up between 6:30 am and 8:30 am every morning with the kids again), and write up my offers and prepare fax pages, so I can fax them off in the morning. (Or, if I have an email address, I can email the offer). I definitely don't fit the mold of the common 8-5 investor here, BUT, it CAN be done with a LOT of discipline and sacrifice!

Can't wait to see the next deal you find; you are on fire Matt! (no pun intended... well, maybe )

Tammy, you got a lot going on. The secret to making it in real estate when you have kids is to ask your pediatrician for sleeping pills for the kids. LOL

Tammy Wait until you have to start reading all the essays Monday.

Yeah I am sure you guys will have tons of essays to read. Thanks for the on fire comment Tammy. I just fired my realtor and found a new one that is absolutely incredible. So the offers will be a flowing. I am just trying to network and do as much as possible to be successful with this. I am understanding even more that you have to be out there and learn on the fly.

Learning on "the fly" it seems like with ALL the knowledge I have gained and talking, networking with a lot of seasoned investors etc etc it looks like there's only so much you can do from a laptop and paperwork surrounding you 24/7 (that would be me!) and actually get out there and see it with your own two eyes. So YES I WILL get out there and make a few mistakes but I know that the experience I get from it will be priceless! I can't imagine just reading a book and looking at RE sites all day because in the end that's what's NOT gonna be bring PAYDAY!! So off I go to the real world. Wish me luck!!

directed at you in any way Chase. I think Lane and I have both been caught up in this before and realized it and just want others to know our mistakes. I have a problem where I hate talking to people over the phone if I don't know them. I don't like imposing on their lives but if I truly can help them I need to adjust my mindset and just get out there and do it. Hopefully the properties we found last night will pay off for you Chase. Go get em!

the same problem. I absolutely cannot get myself to call people I do not know! That hasnt stopped me from doing it though! I was nervous as hell when I called them but I still did it and you know what...when you talk to them they usually talk to you like they have known you forever. Most people aren't that stuck up when you call them. Everyone is usually nice and polite unless you catch them on a bad day.

but the 8-5 part is kinda difficult when you have a full-time job; so you have to be very organized and productive with the hours you have after your working hours.
There is so much to read and learn that it can keep me from taking action, so I have to keep reminding myself to get out of the house and look for the deal!
Keeping a journal is really helping me balance the time I spend doing each activity...

Valerie

Thanks for the valuable information. The rest of you have hit it right too and thank you for the added input.