Should You Do Real Estate Full-Time?

Many self-acclaimed real estate gurus state that everyone should quit their jobs and immediately jump into full time real estate investing. They often claim incredible results from students with little experience. We would like to caution that life-changing decisions are not usually simple and that full time investing is not for everyone. Let’s discuss some pros and cons of full-time versus part-time investing.The Full-Time InvestorEntering into the real estate profession on a full-time basis offers several advantages over a part-time commitment. Being successful requires you to develop knowledge in many aspects of real estate, and more time focused on real estate leads to greater knowledge. The more your learn, the more you earn, since you do not need to rely on as many professional services or partners for help. You also learn to recognize a deal (or a dud) faster, which gives you more time to do more business or spend with your family.As a full-time investor, you work your own hours. When we say “full-time,” that may mean as little as twenty hours per week if you are good at finding deals. The rest of your time can be spent pursuing other vocations or hobbies. Or, if you are so inspired, you can work forty or more hours and use the extra cash flow to buy rental properties or diversify your holdings in the stock market. The point is that you need to satisfy your cash flow needs before you can start “investing” your money.One final point you should consider is whether you want to be “self-employed.” If you have always worked for someone else, being your own boss sounds very attractive. In some, respects, this isn’t quite the truth. Being your own boss means being an accountant, bookkeeper, stock clerk, receptionist and office manager all-in-one. You have to do deal with tax returns, payroll, office supplies, customer service, bills and all the other hassles that come with a business. You don’t have friends to chat with at the water cooler. You don’t have paid health insurance, a company car and a 401(k). You take your problems home with you every night. Sound like fun? It is, once you learn how to master your time and run your business. Being the master of your own life and career is well worth the other hassles of dealing with your own business.The Part-Time InvestorThe part-time investor holds a “regular job.” This may be by choice or for the time being until his real estate ventures are bringing in enough cash to quit his job. If it is the latter reason, don’t quit your job because the real estate “guru” told you so. Quit your job when it is not worth the income that it brings you. In other words, if you are making more money per hour flipping properties on the side, you are at the point that where your regular job is costing you money. Only then, is it time to quit!One of the advantages of starting out part-time is that you can maintain cash flow while learning the business. It may take weeks or possibly months to find your first deal. That same deal may take several months to turn around, especially if you decide to fix it and sell it retail. Think twice before telling your boss you’re leaving; you will have plenty of time to make the career switch once you have real estate experience. You may, on the other hand, like your occupation. If so, continue to work at it, and invest in real estate on the side.The best case scenario, if you are married, is to have one spouse work a regular job. The other spouse work the real estate business for creating wealth, retirement income and a nice college fund for the children. Of course, in today’s market, you could be laid off due to unforeseen circumstances. If you earn additional income flipping houses and invest the proceeds into rental properties, you will be covered if your main income is lost. This is especially the case for married women that often forego a career and raise a family, only to find themselves divorced with no means of making a living. We don’t want to sound cynical about marriage, but with a fifty-percent divorce rate in America, it never hurts to have a system for making money.Someone with a full time job tends to have little free time to focus on real estate. A part-timer should learn most of the same skills as a full timer. Thus, the key disadvantage to flipping properties on a part-time basis is that it takes sacrifice to learn the business. Something has to give; television, lazy weekends, meaningless hobbies and even some family activities must be compromised. As with any education, time spent learning about real estate will bring its own rewards, especially if the people in your life understand your goals and your plan to achieve those goals. If you are married, make sure your spouse reads this material with you and participates in the fun process of making money.Treat Real Estate as a BusinessPeople are lured to real estate because of the quick buck that it promises. Don’t hold your breath, you won’t get rich quick. An “overnight sensation” usually takes about five years. More than ninety percent of the people who take a real estate seminar quit after three months. Real estate investing should be treated with the seriousness of a career. It takes months, even years for a business to cultivate customers and have a life of its own. You need to treat it like any other business.

How A Virtual Assistant Can Help You In Real Estate?

Being in the real estate business you must be knowing well that here time us equivalent to assets. You are responsible for several things that can help out the potential buyers and the sellers of the property. Of you are having such needs then you have to hire real estate, virtual assistants. The advantages of hiring a virtual assistant for the real estate can be helpful to you in the following ways:Works At Your ConvenienceThe virtual assistant is the person who generally works from their office that is usually not near to you. This can be in a remote location which might also be difficult to access for you. They can be in a different which have time variations. Thus, when you are having your good night sleep your works will be completed by them. Because they work online so you can easily outsource your work. You do not have to monitor them in person like you have to do for your other employees. They might work for you even before and after the normal office timings.Manage Business In As Affordable WayThey would save much of your valuable time so that you can utilize them in some other kinds of work. In fact, from the moment you wake up, you would be relieved because they are looking after your business which otherwise you had to do yourself. They will help you be organized with time and you have to pay them on the basis of hours they work for you. Hiring them you can be sure to save a minimum 40% of the expenses.Increase Your ProductivityWhen you hire them you are sure to find increased productivity for your business. They will organize the time so that you get to spend more time with the important aspects of your business, like meetings and site visiting. They world also look after the business emails. You can even forward the incoming calls to them because they are trained in attending to the calls, inquiring and taking down important details. They will also remind you the important meetings in advance. So, you can be sure that the objective of each day will be taken care of by them. So, you might find that you are working far more than you used to do in the earlier days.Improve Work QualityThe virtual assistants are highly trained and experts. Most of them retain high-quality certification they are able to create and manage CRM programs which are really important in the real estate business. CRM must be updated regularly because that can translate a lead into a sale. Even when you are preparing for a presentation the virtual assistant can help you by creating professional looking PowerPoint slides. This will make others understand your prospects in a better way. They can also help you with creating spreadsheets and doing SEO for your business.Along with all these things, the virtual assistants will increase the sales conversion over time. Thus, you would be witnessing success more than anything else. So, having them is really important for your real estate business.