Are you still trying to do it all on your own? If you haven't already hired a real estate investing assistant, it's time to do that and shift some of the tasks you do onto their plate. Real estate investors can struggle to grow their portfolios without skilled help. So as you build your real estate investing team, make sure you bring on an assistant (sooner rather than later). What can the right assistant do for you? One of our best real estate investing tips is that these ten tasks should already be on their plate!
Greeting Clients, Answering the Phone, and Making Follow-Up Calls
Maintaining excellent communication with contractors, your CPA, the real estate agent, other team members, and clients is critical for your success. However, keeping up with phone calls, texts, and emails can be overwhelming as you build a more significant real estate portfolio.
If you're having trouble communicating with all of your clients on your own, it's a great idea to have your REI (real estate investing) assistant handle some of those responsibilities. Answering the phone promptly can help you keep business coming through your door. In addition, an assistant can make sure that calls aren't being put on hold for long periods and that every client is getting the attention they deserve. With a capable REI assistant at your side, you’ll never miss important calls or excellent deals!
Preparing Real Estate Forms and Documents
Preparing paperwork is a necessary part of investing in real estate, but that doesn't mean you have to do it all on your own. Handing real estate forms and other documents off to your REI assistant could provide you with new opportunities to grow your investments and communicate with new clients. When you start delegating things like paperwork to your assistant, you may find that your investments benefit more than ever before. Prepping paperwork will also help your assistant get more familiar with your business and minimize errors like losing documents or missing deadlines. In addition, as they learn more about your real estate investment properties, they'll be able to contribute more in the future.
Generating Correspondence, Scheduling Meetings, and Making Travel Arrangements
Meeting with your clients or investigating new property investment opportunities are essential for maintaining good relationships and long-term success. However, the time spent scheduling meetings and making calendars line up can eat into other important aspects of maintaining your investments.
An REI assistant can help you get that time back by scheduling meetings and preparing correspondence for you. A real estate investor can simply check their calendar and make sure they’re on time for the next appointment. In addition, arranging travel is something your assistant can take off of your plate. With all of that time gained, you'll be better equipped to grow your investments and boost returns.
Ordering Supplies and Preparing and Distributing Marketing Materials
If you're running your real estate investment business from an office, then it's crucial to have the supplies you need to keep your space running efficiently. The right assistant can ensure that you have all the supplies you and your team need to operate productively throughout the day.
In addition, your REI assistant can help you prepare and distribute marketing materials, list properties, and more. Whether you're embarking on an email marketing campaign or you need to find buyers for your latest fix-and-flip or tenants for a rental property, an REI assistant should be fully capable of completing marketing tasks to help your business grow.
Maintaining Electronic and Paper Filing Systems
Organization is key when you have multiple rental properties or other investments to keep track of. If you haven't already delegated the responsibility of maintaining electronic and paper filing systems to an assistant, then this is the perfect sign to do just that. When you can trust your REI assistant to keep your paperwork organized, it's possible to dedicate more time to grow your investment business. Not only that, but you'll have a much more organized record of transactions to deliver to your CPA, real estate lawyers, and other team members involved in your investment success.
Coordinating Showings, Assisting at Open houses, and Obtaining Feedback
You only have one set of hands, which means coordinating showings and open houses alone can be a sizable challenge—especially if you own more than one investment property. Your real estate investing assistant is there to help you take care of these critical tasks. Whether it's setting up an open house or guiding potential tenants through part of the property tour, your REI assistant can take much of the burden off of your shoulders. In addition, your investment property assistant can be an excellent resource for gathering feedback from clients at open houses and showings or tenants as they move out.
Preparing Listing Materials and Posting Property Listings
Property listings are arguably one of the most important aspects of growing your real estate investment business. However, if you spend all of your time writing great listings, you may miss out on opportunities to buy other investment properties. That's where your REI assistant comes in. When your assistant can prepare listing materials and post listings, you can spend more time closing sales to help your business grow.
Assisting with Closing Processes
Closing is one of the most important steps in obtaining new investment properties. If you're tied up with another property, it's important to make sure that someone on your team can assist with closing processes. Your real estate assistant should have the experience to help you when closing on a new property to make sure everything goes smoothly. From gathering paperwork to making sure your attorney, lender, and seller have everything they need for closing day, an assistant becomes a valuable asset to expediting the buying and selling process.
Managing a Client Database and Preparing Reports
Keeping up to date with your clients can help you maintain good relationships and continue your business's growth. That's why it's so important to manage your client database carefully and keep detailed reports of your investments. With help from a well-trained assistant, real estate investors can stay up to date on critical records and reports without taking time away from client meetings or open houses.
Conducting Market Research to Help You Find the Best Deals
There are plenty of real estate investment tips out there that reiterate how important it is to find the right properties to invest in. Unfortunately, searching for great real estate investments can be time-consuming, which means you could be required to take time away from other aspects of your business. If you entrust market research to your property investing assistant, you can focus your time in other areas while they highlight the best real estate investment for your next purchase. In doing so, you'll be able to effectively grow your investment business without spending valuable time looking at properties that don't meet your criteria or goals.
A Real Estate Investing Assistant Adds Value!
When it comes to what to know about real estate investing, a critical action item should be delegating specific responsibilities to your real estate investment business assistant. Utilizing their services correctly could mean the difference between growth and stagnation for your investment business. As your real estate portfolio grows, savvy investors know that they won’t have the time to take care of tasks that can be delegated to an assistant who adds value to their business. With a tool like Privy, your assistant can receive daily deals about new investment properties in your favorite real estate market! They can also review those deals and help you consider which ones could be ideal for your next property purchase. Reach out soon to learn more about the Privy Advantage!
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