In this episode, I continue my month long All-Star Q&A Series. All month, I am going to be asking some of the most incredible real estate investors that I have interviewed over the past seven months questions that I commonly get from new real estate investors. This is an incredibly powerful series and I am really excited to bring it to you. We are continuing the series with the following question: Should a new real estate investor try to automate their business right from the start, and if so, what can and should be automated?
Brandon started answering the question about automation by recommending two great books:
The 4 Hour Work Week by Timothy Ferriss
The E-Myth Revisited by Michael E. Gerber
The E-Myth Revisited compares a business to the gears on a clock. The business should run like a clock in that each gear drives another gear, and that gear drives yet another gear, so that the entire watch is a series of gears that work together to get the job done. If you have to physically move all of the gears by yourself, your business will never really reach its potential.
Brandon’s advice for any new real estate investor is that, before you start outsourcing tasks in your business, you should first build the gears. Once you figure out what tasks need to be done, you need to do those tasks yourself for a while until you master them and are able to outsource them.
Brandon says that you can automate:
- Phone calls
- Rent collection
- Picking up materials for a rehab
You can find Brandon here: