Investing in real estate can very easily become a full-time job. As we’ve talked about before, a truly “hands off” investor is a myth. Real estate investment is a business and a job — and what you put into it is often what you get out of it. Investors have to follow up on leads, check in with their staff, keep up with real estate news and statistics, create strategies, deal with banks and agents and contractors…
It can be a big job!
In today's article, we are focusing mostly on the "active" investor since many of our passive clients still actively work in the investment real estate industry. We know that even our readers who follow our articles and blog, but may not be clients, like to be kept informed and up to date on all sorts of issues effecting profitability. Effectively boosting your productivity is a KEY way to make yourself a much more profitable investor. Now, just because we are focusing on active investors does not mean passive investors can take a pass on watching their portfolios and boosting their productivity as a passive investor. Pay attention, some of these tips just might help you too!
When investing in real estate, it’s important to have strategies ready that will have a positive effect on your productivity. So here are four productivity tips.
4 Keys to Increasing Productivity
Draw a line between work and life.
One would think that if you allow yourself to always be “on” with your real estate investment business, you’ll get more done. Not so. When you let the line between work and your personal life blur, it becomes far more difficult to dedicate a block of time to getting things done.
When you check your emails after working hours, you may think you’re getting a head start on things, but you need to give yourself room to breathe. One of the surest ways to burn out and become overwhelmed is to let work rule your life. By the same token, without a clear line in the sand, it can be too easy to become distracted by tasks that should stay in personal time. Make yourself a schedule and stick to it! Achieving work-life balance is key to being productive.
Give yourself a dedicated space.
If you find yourself struggling to get work done, you would do well to create an office space. Many real estate investors don’t treat investing as a full-time job, and that’s completely fine! However, it often brings up a similar problem as blurred lines between work and life. Working from the couch or kitchen table doesn’t always put you in the right head space to work. Create a room or area that has a desk where your investments can stay.
Set limits on your technology.
No, we don’t mean turning off your smart phone. One way to boost productivity, however, lies in returning to the methods that worked when information was presented to us on paper. The more we see and deal with at once, the more our attention is split. Limit yourself and your devices. Use your phone, not your computer, for checking social media during work hours. Make a separate browser profile for work. Do your best to look and focus on one thing at a time!
Focus on what you can do, not on how you feel.
Even in work, it’s far too easy to get caught up in emotions to think clearly and take action. Instead of falling into the temptation to complain or stress out, focus on what you can do to change the situation that’s causing you grief. It’s fine to be upset...if you channel that energy into doing something about it! Anything else is just a waste of time.
Do you have strategies that help you stay productive? Share them with us in the comments. Would you like to avoid common real estate investing mistakes? Download our quick video on 11 Mistakes to Avoid and grab a pen and paper. These tips can help you stay productive by avoiding mistakes!