Today we’re going to talk about systems. Like I said yesterday, if you want to be a full-time real estate investor, hiring someone to help you in your business is going to be one of the most important things that you can do. So the next step is training them and telling them what to do. How do you do that? You need to create systems.
Creating systems is just looking at what you do to buy a house, to hire a contractor, to set everything in motion, what paperwork is required. Creating systems requires that you’ve done the business yourself first. You don’t have to be an expert, but you need to have gone through each process. Every time you have to do something, document it. What did you do and how did you do it? Write all these things down on day one, and as you’re writing them down, you’re basically developing your systems. What you’ll end up having at the end of your first couple of projects is a rough outline of your system, and as you do more deals, your system will get better and more refined.
When you hire someone, you can just hand them those notes and assign them a part of the playbook that they will be working on for you. Your system will take anyone you hire into your business from A to Z.
And if you hire virtual assistants, you can do voice recordings or screen captures showing them how to do certain things on the computer the way you do them. They can learn from those recordings and follow your systems.
Your systems will create themselves as you go; you just have to document them and edit them. You want to be able to hand off a system to somebody in part or in whole and they can follow that.