Your First Job to Outsource
As a new Real Estate Investor there are a lot of jobs and hats we have to wear on a daily basis! From acquisitions to analysis to data input to follow up to negotiator to…you get it. The point is, if you ever want to grow and scale your business, eventually you will have to hire people to start doing what I call “Non-money making activities”, and right now I want to talk about what I believe is the 1st job you should outsource.
Before I say what job it is, let me preface this by saying you SHOULD do everything at first and you NEED to know how to do the whole business from A-Z. If you don’t, then how are you going to teach someone new and know if they’re doing it correctly? A lot of new investors want to start hiring immediately to do the things they’re not as good at or don’t like, but I encourage you to do every job as long as you can until there’s not enough time in the day and then start hiring.
Alright, with all that said, the first task you should outsource is…Data Input. I know, a little anti-climatic…but it’s true! Inputting data, while necessary, is not a task that should be worth your time. You need to be focusing on $100-$200/hr. tasks and inputting data is a $10-$12/hr. job, $5-$7/hr. if you use a VA out of the country.
It’s extremely simple in today’s world to outsource something like data input. All you have to do is hire someone locally or virtually through a company like Upwork who can (at first) spend 10 hours or so a week to input your lead sheets/notes into your CRM. It’s a very simple training process to show someone how this is done and you will be amazed at the growth you can experience from freeing up only 10 hrs. a week!