How to Schedule Your Week as a New Real Estate Investor | The Money Making Way
#RealEstateInvestorSchedule #NewInvestorPriorities #Scheduling
These weekly action steps will make you money.
Daniel Moore and Ace Ham
Daniel outlines exactly how a new investor's week should look. From prioritizing activities to automating, he details the process while building him a weekly calendar with actionable items to start today.
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6:50 - First, prioritize the activities of each day into money-making activities, must-do activities and want to do activities. The money activities must be completed first. As a new investor, the two main activities that make you money are prospecting for leads and marketing to those leads.
11:27 - One of the best sources for lead prospecting is a water shut off list, which Daniel covers in detail in his Water List Video - • Absolute Best Lead List for Real Esta... . Request two lists. 1) A list of all residential properties with the water shut off in the last 30 days. 2) A list of all residential properties with the water shut off greater than 30 days ago, but less than one year ago and have not had the water turned back on.
The reasons for water shut off range from the owner could no longer afford to pay the bill, the owner moved out, there was a massive water leak, or the owner sold the house and canceled the water, which would not be a lead as the property has already been sold.
16:37 - Once you get the 30-day shut off list, you need to scrub the data to weed out any recently sold properties. Using the scrubbed list, go to the County Central Appraisal District website to find the owners of the property. Remove any owner-occupied properties as the best leads from this list will come from the absentee owners, who are likely landlords. These are likely vacant rental properties as the water has been shut off. A landlord is more likely to sell when the property is vacant. The multiple month shut off list are typically bank owned foreclosures, which are no good for our purposes or deceased individuals where the heirs don’t know what to do with the property. With this list scrub out any bank owned properties.
53:10 - Now that you have a list of properties and the name of the owners, find the owner’s contact information by skip tracing them. Before you contact the owners, think of who you will be contacting, what problems they are experiencing and how you can solve those problems. The more prepared you are, the better your marketing will be when you reach out to them.
1:05:42 - New Investor Calendar Break Down
Break down each day into 2-hour chunks where the first part of everyday you prioritize your money-making activities, must do activities and want to do activities.
Monday: Prioritize. If you are new, request a water list immediately. Until the list comes in, set up the process of scrubbing the list, then spend the remainder of the day driving for dollars. If you see a distressed property, go knock on the door, write down the information.
Tuesday: Prioritize. If you got some good leads from the previous day driving for dollars, spend time marketing to those leads, contact them. When marketing, get comfortable failing and hearing no.
Wednesday: Prioritize. Work any leads you found through the process, market to them.
Thursday: Prioritize. If your list comes in by this day, spend the day scrubbing that list to get better leads.
Friday: Prioritize. You spent all day Thursday scrubbing the list, so now you must market to those leads.
Automate as much as you can so that everything becomes consistent rather than in waves. The more systematized you become, you can hire a VA (Virtual Assistant) to handle obtaining the lists, scrubbing them and getting the owner contact information. As you start closing deals, the money-making activities will change. For example, the priority may be going to the close on your latest deal.
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