How To Save Time when Running a Real Estate Business

Almost everyone I know wants to make more money, but we are often limited by how much time we have. I run multiple real estate businesses and constantly struggle with finding enough time for everything. We concentrate on doing our jobs and running our business but many times ignore the best way to make more money. If you had more time in your life, you could easily make more money. We all have a finite amount of time given to us; we can’t add hours to the day no matter how much money we have. We all have projects in the back of our minds, better techniques to implement at work, or research we would love to do if we had more time. If you can figure out how to manage your time better, you can make more money and enjoy life more! This article is going to break down multiple ways to help you manage your time better and make more money. Manage your time better and you will have more opportunities to go after what you really want! Remember, if you blow all your extra time watching television, it is not going to do you much good.

If you want to make more money, you usually need more time

The more time you have, the more money you can make. The more money you make, the more free time you should have. Money can often buy you time. You can hire someone to mow your lawn or do other tasks for you that will give you more time for important things in your life. In my opinion, it is much easier to take steps to increase your available time than to increase the money you make. Many people make the mistake of mismanaging their time, even after they have made enough money to last the rest of their lives. All the money in the world will not do you any good if you don’t have the time to enjoy it. Manage your time better now and you will be able to live life to its fullest.

How long does it take to learn to invest in real estate?

How does free time allow you to make more money in real estate?

You may be asking how in the world free time can equal more money. There are a lot of unemployed people with tons of free time not making any money. This article is meant for those of us who have a job, family, and very little free time after all our responsibilities are taken care of. If you find yourself with a ton of free time and nothing to do with it, then start taking action. Research ways to make money, exciting things to do, or a business to start. Think about what you really love to do and find a way to do it more. If you own a business, have a full-time job, or stay home with the kids, most of us are short on time.  If we had more time, we could pursue a new career, a new source of income, or pursue a hobby.
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Is it easier to be successful if you do what you love?

All of these pursuits can lead to more money and more happiness. Pursuing a hobby means you are doing something you love. If you love doing something, there is a great chance you will be successful at it and be happier! I have a huge list of business ideas and ways to add sources of income to my current business. My biggest problem is finding time for everything. Between my job, my blog, and my family, it does not leave a lot of extra time. Every time I gain free time, I am able to fill it up with a new opportunity or venture and almost immediately make more money.

The cool thing about doing something you love is you get to enjoy life while you work. A great way to get more time in your life is do things that make you happy. You don’t feel like you are wasting time at a job you hate.

Why you should be getting out of your comfort zone.

How to save time by focusing more when working

Our society promotes multi-tasking and doing eight things at once. I know I am guilty of multitasking all the time. I check my e-mail every five seconds, answer my phone every five minutes (used to, not anymore), and constantly switch between tasks. The fact is, when you are switching between tasks constantly, it takes longer to complete those tasks. Every time you switch tasks, it takes time to figure out where you left off on a task, where to find information or paperwork on another task, and to remember all the tasks you are trying to complete. Multitasking is not a good thing.

I have learned to concentrate on one task at a time until that task is completed or a set amount of time has passed. I don’t check e-mail; I don’t answer my phone; and I concentrate on that one task. I will be the first to admit it is hard to do. I constantly want to check e-mail or switch between tasks, but I make myself concentrate on one task. This saves me a lot of time over the week, and I complete my tasks at a higher level of quality. Focus has allowed me to manage my time better.

Think about how much you get done when you are on a deadline and have no other choice but to finish on time. We usually are able to get much more work done than we thought possible. That is because we are concentrating more, have nothing else on our mind, and are focusing on one task.

Why focus will make us more successful.

The more you schedule things, the more time you will save

I don’t like the same routine over and over. I guess that is why I love real estate. That personality trait makes it very hard for me to schedule my day, let alone my week. The more I am able to schedule, the more time I save.

I have been scheduling more and more, and I am able to manage my time better through scheduling. The reason scheduling saves time is you have a plan for the day or week. You don’t waste time thinking about what needs to be done or if you will have enough time for everything. One great technique is planning the next day the evening before you go to work. If you know exactly what to start working on, you won’t waste half an hour getting settled in and deciding what needs to be done first. If you have your day planned out, you are able to manage your time better and make more money. You also will forget fewer things. If you forget an appointment or a task that needed to be done, you will spend a lot more time trying to fix that mistake than if you had done what you were supposed to.

How to be successful in real estate and life.

Delegate as much as you can to save time

Something I try to do all the time is never work below my income level. This is an extremely difficult thing for many people to do. The idea is to hire out any work that can be done for less than what your time is worth. Calculate what your time is worth per hour based on your income level. If you are worth $100 per hour, don’t mow your lawn when you can hire someone to do it for $40 an hour. Use that extra time on money-making activities that earn $100 per hour or spend it with your family. If you run a business, don’t bog yourself down with busy work that someone can do for $15 per hour.

Being busy does not equal being successful. Hire someone to help with the busy work and tasks you don’t like. It will make you happier and allow you to make more money because you are focusing on the money-making activities.

How to delegate and hire people to help with your business.

Limit the amount of time you spend on email and phone

I have to check my e-mail frequently because my clients require it, but I don’t have to check it constantly. If possible, set out chunks of your day for checking e-mail. E-mail can eat up huge chunks of time if you check it every five minutes. Always take care of the most important e-mails first. Then, work your way down to the least important, and try to save personal e-mails for after work.

My phone rings all the time during working hours and many times during non-working hours as well. If I were to answer every call, I would spend half of my day on the phone. My coach suggested I change my voicemail to let people know when I will return calls. On my voicemail message, I tell people to text or e-mail me for the fastest response. Most people know to e-mail or text me, and it saves a ton of time! If I call someone on the phone, it takes at least three minutes or possibly longer. An e-mail or text response takes me about 15 seconds.

What is a great book to learn how to save time?

Eat That Frog, is a book on how to save time in your day and stop procrastinating. The basic premise is to eat that frog first, which means to do the most difficult and dreadful task first. By doing the most difficult task first, it eases your mind and makes the rest of the day much easier. Manage your time better by not procrastinating!

Another great book that helps with procrastination is the War of Art. It talks a lot about distractions in our society and how to avoid them and get work done. The book talks about resistance, and this term has helped me tremendously. Resistance is that thing that keeps us from completing a task, finishing that paper, or pushing through to finish something really important in our life. Do you ever notice how a really big task is always hardest at the very end when you think you are almost done? It is hard to finish with the same enthusiasm you started with and at the same quality. The War of Art calls this resistance, and if you can recognize it, it can change your life. “Conquering the resistance” has helped me break through those difficult tasks and even work out harder and more often.

To save time, figure out how much time you spend now

When you are trying to save money, one of the first steps is to make a budget. You figure out how much money you are spending on things compared to what you should be spending. The same happens with time. To save time first, figure out what you are spending your time on. With a time budget, list all your activities during the week and how much time you spend on them. List out the most important activities and the least important. Take a good look at what you are spending time on and if the majority of your time is spent on the most important things. For work, don’t block out 8 hours per day and forget about it. Break down those 8 hours into exactly what you are doing and what the most important tasks are. Then, try to plan your next day or week using that time budget. Allocate a certain amount of time for family, job, hobbies, sleep, eating etc.

How to save money.

How to save time when you have a corporate job

Many of these techniques work best if you own your own business. If you work for someone else or are in the corporate world, they can still be utilized. The Four Hour Work Week is a great book on learning how to delegate and use your time better. The author had a regular job and ended up outsourcing almost all of his work for much less money than he made. This allowed him to pursue other interests and start his own company with his free time. I would advise anyone who tries this to consult with their boss before outsourcing their work. I don’t want you to get fired. The author, Timothy Farris, ended up with a business that earned him $80,000 per month. In his business, he does basically nothing: it runs better without him being involved.

Even if you aren’t able to outsource your job, you can use these techniques to improve productivity, and that will get you noticed. Getting noticed usually leads to promotions and more money. The worst case scenario is you manage your time better and have more free time to pursue other money-making activities.

Not everything has to be done perfectly

Too Perfect is another book that changed my life. It is about obsessive-compulsive traits in people and how it affects our lives. When my coach first had me read it, I thought, I am not obsessive compulsive; this is a waste of time. Then, I read the first chapter and realized there is a lot more to being obsessive compulsive than being a clean freak or a complete over-the-top compulsive. I realized I have a lot of obsessive-compulsive personally traits.

  • I always think about work
  • I have a hard time relaxing completely
  • I want tasks at work done perfect, no matter how important they are
  • I always want to get the best deal, and I worry about the quality of the completed work.

I realized these are traits are found in most good businessman. I also realized many good businessman focus on work and seriously lack quality family time or me time.

The second part of the book talks about how to be less compulsive and relax. I realized not every task has to be perfect. I can concentrate on the most important tasks, not spend too much time on the less important tasks and not worry about the past (completed tasks). Not only have these changes reduced stress and anxiety, they have increased my time. The better I manage my time, the more money I make!

Does a house flip have to be done perfectly?

Making lists saves a lot of time

It is so simple, yet many people don’t write down what they need to do for the day. The less time you think you have, the more important it is to make a list of everything you need to do. If you have it all written down, it is much harder to forget a task. When you get super busy, it is also easy to get anxious and overwhelmed. When I get anxious and overwhelmed, the quality of my work suffers, and I make more mistakes. I always make sure I have a list of tasks, and once I look at that list, I realize “I can do this” and get to work. I take a deep breath, focus on one task at a time, and very rarely do I not get everything done. I manage my time better by writing everything down and making as many lists as I can.

To learn how to use mindset and attitude to make yourself more successful, check out: How to Change Your Mindset to Achieve Huge Success: Why your attitude and daily habits have more to do with making more money and having more freedom than anything else.

Conclusion

You should have noticed some common themes in this article. The more relaxed you are, the better you work and the more you get done. The more organized you are, the more work you get done. The more you schedule and the more you concentrate on one task, the more work you get done. The more you delegate, the more work you will get done. If you get more work done, you have more free time. If you have more time to focus on money-making activities, you will make more money!

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10 Comments

  1. Accidental Rental October 15, 2018
    • Mark Ferguson October 16, 2018
  2. Alexa October 12, 2018
    • Mark Ferguson October 16, 2018
  3. Peter Banerjea October 10, 2018
    • Mark Ferguson October 10, 2018
  4. Ola Rybacka October 8, 2018
    • Mark Ferguson October 10, 2018
  5. John October 7, 2018
    • Mark Ferguson October 8, 2018

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