The old adage says that time is money. Real estate investors know just how true this is. It’s a time-consuming business, particularly as you grow and strive for personal success. However, real estate investors don’t have to break their backs or sacrifice all of their time and energy in the pursuit of their investments.
So how do real estate investors maximize their return on their time?
Make Your Time Count as a Real Estate Investor
Go Turnkey
One of the greatest advantages of investing in turnkey real estate is that it saves you time. It saves time, headaches, and effort that, for you, has a minimal ROI. So many investors struggle and strive to keep up as the sole owner and manager of their properties.
While initially, you may think that you save money by taking on the burden of property management (and even property maintenance), you will find quickly that your time has its limits. An investor-turned-landlord can only do so much on their own. They can only be in one place at a time.
If you want investing to be a full-time job, it’s the way to go. But most of us don’t want our investments to be so involved! Not only does it take time, but it is profoundly limiting.
As an investor taking on management, you are limited to your local market. If you never outsource the daily tasks, you’ll find yourself not only facing long hours and the limitations of your time and energy, but a steep learning curve to boot.
No matter what kind of real estate investor you are, you’ll learn that your work is never done!
Check out: Want to Save Money in the Long Run? Attentive Property Management!
What Sets Turnkey Investing Apart?
Instead of relying on your own time and ability, you can leave your investments in the hands of others. One of the most powerful tools utilized by successful, wealthy investors is the power of delegation. Turnkey real estate is you saying “my time is valuable. I’ll focus on being the owner while turning the rest over to an experienced team.”
Turnkey real estate is “hands-off” in that you relinquish the responsibility of day-to-day property management, market navigation, and investment property hunting, as well as renovation and maintenance work.
This leaves investors to focus on their strategy and growing their portfolio with the help of their turnkey adviser. There is room for you to focus on what really needs your time and attention.
Treat Your Time as Most Valuable
One of the biggest issues we face not just as investors but as people is a failure to value our time. We already live in a world in which others don’t value our time. It’s important, then, for you to assert the value of your time and attention.
We have to, first of all, organize our priorities. When you are unsure of what you want to accomplish, wasting your own time is a given. By the same token, this helps you better sort through new tasks and proposals — allowing you to better determine whether or not they are worth your time.
This means learning to say “no” and learning to think things over first. Does it fit within your schedule? Your vision? If not, it’s okay to leave opportunities on the table.
Get Started Early
In terms of investing, starting sooner rather than later is key to increasing your returns. We see that younger generations vie for investment wealth, while others are being blindsided by their encroaching retirement years.
Compounded returns are real. As you invest earlier, you will have more time to grow your portfolio and multiply your wealth. Start too late and you will not see the fruits of your labor as fully as you could have.
Building your wealth and using your time wisely demands urgency. This isn’t to say you panic about investing, but it is to say you plan for it as soon as you are able. An early start makes all the difference in the world where long-term investments are concerned.
Start building passive wealth today!
