The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Wednesday, March 08, 2006

My precious..

I have to tell you, my thoughts on time has changed drastically in the last few months. I consider my "time" very precious right now. Since my promotion at the JOB and my new son, my life has changed.

I am trying not to work over 40 hours, but its been tough. In addition, I have a 50 minute commute each way.

Spending time with my son has been great and I do it everyday. In addition, my wife and I decided to take one day out of the weekend to just "chill out" with the family. Without allocating time to do this, we end up filling out schedules doing chores and work. We have actually forgot how long its been that we went out on a date. ;-(

So, I have accepted these changes, but where does this leave me with real estate? I no longer want to scan listings at lunch, and can't do much one day of the weekend. I estimate I can only do 5-10 hours a week at most.

This includes: finding deals, creating lists, talking w/ sellers, education, checking out houses, writing offers, closing deals, working on houses, renting them out, quick books, selling, marketing, advertising, rehab, networking, education, etc...

Not much time when you want to buy many houses, huh? And if I want to have any fun, real estate will be zero for the week. I'm still trying to figure this out, but my time will have to be focused like a laser. I need people to find me deals, enter and exit criteria need to be easier.

I have read time management books, and I have ideas, but I'm going to have to trade money for time.

Good investing!
|| Bginvestor, 6:16 PM

5 Comments:

I'm kind of in the same time crunch situation as you. I travel 4 days a week and home for 3 days.. I need to spend quality time with the little ones and have lots of projects to keep the house up. Right now I allocate mostly every other weekend for the family and the next week for the projects. I usually end up finding a little time on the project weekends to do something with the family. This has worked out well since this is what the family has decided to do! Good Luck and hope that helps.
Blogger Kenneth, at 8:04 PM  
Don't be too hard on yourself! Your family is obviously the most important aspect of your life. You shouldn't feel guilty about needing to take a break from REI now and then. It works for you--not the other way around.

I wish you and your family all the best!
Blogger Trisha#1, at 10:58 PM  
I admit I'm new to your blog. Would you ever consider getting an agent to find these deals for you? I know he takes 3% but it may be worth it if the agent can find you great deals. Afterall, the agent makes money when you make money. Just an idea.
Blogger Clifford, at 6:52 AM  
Brian - I hate suggesting this, because I feel you are light years ahead of me in this industry, both in deals and knowledge, but I'll throw my 2 cents in anyway.

First, I can empathize with you - with a 3yr old and two newborns, BELIEVE ME I CAN. :-)

Second, try to do your best at time management marketing. One of the things I found myself doing this past year was spending too much time doing things that would produce too little results. I downloaded Richard Roop's telephone seminar here which really opened my eyes to what I was doing wrong with my time. You need to create systems that filter only those deals that are worth it. And let your marketing do the work - not you. Set up a system that automatically sends out flyers and postcards to people periodically, etc. And have a number they can call with a voicemail that weeds-out 'curiosity seekers' and only gets the truly motivated sellers. It seems like a lot of your time will be saved by doing these small things alone.

Again, I'm probably preaching to the preacher here about this as you could very well have this setup already (and more). :-)
Blogger Steve, at 9:56 AM  
Kenneth - Thanks for the info

Trisha - Something has to give and its probably going to be REI ;-(

Clifford - I feel the listings on the MLS are not deals. I like deal sat 70-80 LTV. You don't find these very ofthen in my market on the MLS.
Blogger Bginvestor, at 10:46 AM  

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