Managing multiple real estate businesses has often been a problem, especially for newbies. Let’s face it, real estate can be stressful and time-consuming, not only for the agents but also for investors, keeping a track of your investments, changes in the ongoing process, etc. Although there is a term “Passive Investment”, but as a matter of fact, no investment is 100% passive.
As an investor, there are a bunch of tasks you need to perform, like choosing a broker, building an allocation strategy, deciding when to buy or sell, and other such scenarios. On the other hand, the scene becomes more complicated for a syndicator or a sponsor, who, since they are involved in multiple projects, often find themselves juggling between things.
For syndicators, client management has always been challenging and requires a great deal of organization and prioritization. Here are some of the tips that can help you stay organized and manage your time like a pro:
Prioritize and Organize Your Work
Kick start your day by creating a proper work schedule, set up your priorities, and organize them in a time-saving manner. Make sure you keep a track of your tasks, try using software for the same - Google Task Manager, is an amazing tool that helps you keep a track of your time, priority tasks, activities, etc.
Set Your Business Goals
Pick a niche instead of being a “Jack-of-all-trades” and don’t forget to create a balance between your personal and professional life. Don’t neglect one for the other.
Focus On What’s Important
Once you have got software in place, you’ll get an idea of what you can eliminate or reduce. You can also stay focussed on a simple daily “to-do list” to keep a track of your daily priorities and try to set deadlines as well.
Use The Batching Technique
For effective time management, you can combine your routine tasks into fewer occasions, e.g., batch emails and calls 2 or 3 times a day at fixed times. If you’re answering every call whenever it rings, you may end up wasting a lot of your time just talking to people.
You also should block your time in order to accomplish some important tasks, without any interruptions.
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Use a Calendar
Have a proper calendar in place in order to know what you’re working on and what’s next. Google Calendar is a great option here, you can start your day by taking a look at your calendar to help you stay on track.
Create and Follow a Routine
Once you’ve got your daily tasks in mind, orient yourself and try to stay focused on them one-by-one. Check your emails and save anything that requires a reply. Create a proper plan for the entire day and stick to it. Have an outline of goals and deliverables.
For newbies in real estate, organized and systematic time management are important to help you prioritize tasks, and save time so you can work towards achieving your long-term and short-term goals.