Being a Part-Time Real Estate Investor is a lot of work. It takes a lot of dedication and motivation to get it all done.
I’m frequently asked, “How do you find time to balance everything, your full-time job, family, coaching, recreational activities and still have time left over for your land investing activities?”
The answer is really simple; it comes down to precise scheduling and the correct utilization of your time.
We are all blessed with the same 168 hours per week. We are all equal in that aspect; the difference is that each of us chooses how to spend those 168 hours and we all choose differently.
I was recently presenting at a boot camp and at one of the breaks, an attendee, let’s call him Marcus, approached me and asked “how do you find time for your investment activities?”
Marcus then told me about his struggle to consistently find even 2 hours to spend on his investing activities. When I asked Marcus to tell me about his typical day, he said, “Well I get up at 6AM, get a cup of coffee and spend about an hour reading about the world, I read sites like Fast Company, Forbes, CNN, LifeHacker, ScottTodd.net (okay not that last one!) and then I get ready for work.”
My response, with a smile was “Well, I just found you an hour per day!”
I asked him “how could you move the needle on your real estate investments if you spent that hour mailing offers?”
With his “deer in the headlight eyes” he said, “Yep, I see what you’re saying I’m not utilizing my time correctly.”
The 7 Things I do to control my time!
Here are some key lessons you can use to control your time and maximize your hours.
1 – At a minimum plan, your day the night before.
If your waking up and trying to figure out what you’re going to do that day, you are already behind the eight ball. You need to have a detailed plan in place before you go to bed.
2 – Eliminate all whitespace from your calendar
Whitespace you ask? Yep, you should have no available time on your calendar. Book your sleeping time, book your work time, book your family time, book dinner, you need to account for all 24 hours of the day. The very best example of this is from Grant Cardone. He created a 10X Beastmode 24-Hour Clock that allows him to account for all time.
3 – Stop answering the phone
I know what your thinking, if I stop answering the phone, how will I close deals?
Set a time of the day to return your calls.
Being in meetings and on conference calls all day, I can’t possibly answer every call I get from a seller or someone who wants to buy. So I return calls during my commutes, during lunch, during my 2 short breaks, and a small time block each evening. Other than that, I’m basically in Do Not Disturb mode the rest of the day. Only people on my VIP list get through to me.
4 – Plan times for eMail
I plan a few small windows, where I work email each day. Now that doesn’t mean I don’t check it through out the day. I often check email as I’m running between meetings, heading toward the restroom or as I stand in line waiting. Those are great times to make sure that you don’t miss important emails or updates.
Speaking of important email, I live by the thought that if it’s important they will call (see number 3 above).
5 – Kill all those phone notifications
I mean all of them. Even the badges that show you how many emails you have. Stop Twitter and Facebook and text notifications, they are interruptions to your day and workflow. If you are going to achieve your big goals, you need to be laser focused on your current task.
6 – Schedule meetings for 30 minutes
When I hold meetings at work, I book them for 30 minutes. This limited time frame forces you to get to the point and to make decisions. I believe meetings should be used for decision-making, not information sharing. That’s what email is for. If you are getting together to share information you’re not using your time correctly.
7 – Say no to tasks that don’t support your goals
Stop saying yes to those activities that don’t support your goals. If your goal is to build a passive income, you’ve got to stop watching TV or spending time surfing the web. If you think you can multitask, watching TV and still mail your offers, you will find you’re not fully engaged in either activity.
In order for you to control your time and achieve your goals, you must have specific goals and they must be so big they propel you to take action on them vs. these other meaningless task.
Question – What will you achieve when you micromanage your time?