We are all aware of the importance of time management in all aspects of our lives. No matter where you are, being able to manage your time effectively increases your productivity. In the world of real estate, time management is even more relevant if you want to take your company to the top with multiple deals while managing your staff. So, how can you manage your business workflow and processes through time management? Here are some of the best tips.
TIP #1: Invest in Real Estate Investment Management Software
We live in a digital world with millions of tools at our disposal. Heck, even our smartphones can serve as an office of their own with how much they can help us accomplish. However, we won’t be relying on just phones to master time management, but you need to bring out the top guns. In this case, that would be real estate investment management software. As Jacob Blackett put it, “you and your team should adopt propertyware that is easy to master.” Don’t be afraid to go all out with legit software that gets the job done without stress. The right one will help you incorporate all the processes in your company seamlessly.
TIP #2: Try Out SyndicationPro
There are lots of real estate investment management software available today. Therefore, it could be quite confusing trying to find the perfect one for your real estate brand. The good news is that you don’t have to search endlessly, as this is recommended by Jacob Blackett. SyndicationPro is the real estate investment management software he uses for tons of tasks, including keeping track of both investors and leads. You can increase your competitive edge with software that automates fundraising processes, showcases new opportunities while providing insights into existing investments, includes a distributions calculator, and secures soft commitments to start conversations with investors. You can find out more about this on syndicationpro.com.
TIP #3: Create a Due-Diligence Checklist
Now you’re asking, what’s a due diligence checklist? In the world of real estate, we call it an underwriting sheet. This is a great way to manage all your real estate deals in a simple framework. So what should you include in it? Here’s an idea of what Jacob has in his.
- A column for who is assigned to the item
- A column for a detailed description of the item
- A column that contains a summary of the status.
All you need is 150 lines on this sheet to create the perfect underwriting model. Take your due diligence list like a book of records that guides companies on what they are doing right and wrong.
TIP #4: Create a List for Daily Tasks
If you have ever kept a personal journal, then this will sound familiar. One way to stay organized and manage your time effectively is to have a clear idea of your tasks for the day. You could simply say that you will schedule a meeting with investors and call a potential lead, but it doesn’t become set in stone until you write it down. Writing it down makes it more definite and gives you what you should focus on. Luckily, you don’t need a pen and paper to manage your business workflow. A simple tool to use here is Google tasks. With this simple mechanism embedded in your Gmail, you can drag emails over and create different task lists for each business. Each day, go through the list and pick out five to ten things for the day’s agenda. Whatever it is, focus on that for the day. Even better, turn off your inbox for about an hour or two while handling the selected tasks. You can get through your day better when you get out of your inbox for an hour and focus on the front end of your day. Outline what you want to work on and be consistent with it. Sorting out the clutter helps you get through the day better. When you manage your business workflow with your team, you’re preventing the possibility of issues in the future. With your day planned and your team well equipped with the right software, you can then focus on the crucial part of your business, which is meeting new investors, discussing with leads, and successfully closing deals.