Almost every full-time investor remembers the moment that they realized that real estate investing was actually going to change their lives. Sure, you hear other people talk about it. You see other people succeeding and living beyond their wildest dreams, but the moment that crystalizes the potential in real estate for you is unforgettable. Unfortunately, all too often that moment is also easy to remember because it is the moment at which you make some really lousy decisions.
Most of those decisions have to do with scaling up your business and how to use technology effectively.
Mistake #1
All too often, newly-full-time investors attempt to do everything on their own, even trying to run a full-time real estate investing business on a few hours a day in addition to keeping their other job. When this strategy fails, as it usually does in all cases except those of the truly superhuman, about 100 of your closest friends and colleagues will say, “Just get a VA (virtual assistant)! I don’t do anything anymore except the things that I am best at.”
It is true that delegating responsibilities is a vital part of scaling up, but not all VAs are the same. According to Robert Nickell, founder of REIVA.com, you need a true “Rockstar” team in place in order to effectively implement systems that will make your real estate investing business profitable and that will save your sanity. Unfortunately, most investors simply search “real estate VA” or even just “VA” and work from there, often overlooking crucial training that any VA needs in order to operate effectively in your real estate business structure. Nickell runs one of the most acclaimed VA services in the world and provides premier VAs to some of the top real estate investors in the country. He will be presenting at the Triangle Real Estate Investors Association (TREIA) Conference & Expo powered by Think Realty on August 26-27, 2017. You can reserve your spot here.
Mistake #2
The second mistake investors make when they scale up involves using technology ineffectively. Technology can save you incredible amounts of time, but only if you use it correctly. Sam Kaddah, president and CEO at Liquid Logics, is an expert in connecting lenders and real estate investors the right way in order to enable good investments on both sides of the equation. Using his system, investors can “leverage national and global networks of fund sources and leverage NewGen loan origination, servicing, and registration systems in the real estate investment space,” he said. Kaddah will also present at the TREIA Conference and Expo powered by Think Realty. Reserve your spot here.
Whether you are just starting out in real estate or ready to “level up” in the industry, the TREIA event will be an ideal location to centralize your educational and networking needs in one space. Learn more here.
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