In this episode, I talk about how much time you should plan on devoting to your real estate investing business. My answer might surprise you a little bit.
This question really depends on a few factors like:
- What are you real estate goals?
- How much money do you want/need to make in your business?
- Will you partner with someone?
Some people spend a tremendous amount of time on their business, and get very little accomplished, while others are able to get an amazing amount of work done in very limited time. There are a number of reasons why this might be the case, but the big one is time management. Someone who makes good use of their time and works very efficiently will get more done in less time. Conversely, an unorganized, inefficient person will have to spend much more time to yield the same amount of progress. Sometimes it boils down to prioritizing the important stuff over the unimportant stuff.
A few “unimportant” things include:
- Writing a business plan.
- Making business cards and stationary.
- Creating t-shirts.
- Reading yet another real estate investing book.
So it comes down to this: it takes as long as it takes. A systematized business might only take a few hours a week. In the beginning though, it’s going to take considerably more time, as you try to get your business up and running.