How real estate professionals spend a snow day.
Professional real estate investors are weird people. We do not look at things the same way that normal people look at things. For example, today the snow is really coming down; driving around town might be a bad idea. I live near the Pittsburgh airport and Robinson Township and the major roads are ugly. I have no idea what the roads in the North Hills, Monroeville, Washington County or any other area around Pittsburgh looks like, I just have to realize that looking at houses is out for the day, and I need to focus my energy on other activities.
Before I choose an activity to focus on, I need to evaluate my choices. There are two types of work. The first is busy work. Busy work can make you feel like you did something when all you really did is waste your time. An example of busy work would be pulling comps on a property that you aren’t going to buy, or looking at for sale ads without talking to any sellers. When I put my landlord hat on, busy work can be browsing the isles at Home Depot to get an idea of flooring choices for my next vacancy three months from now. I might feel like I did something, but in reality I might as well have been watching cartoons.
Productive work is much better. Productive work is work that directly makes you money. I will make the case that real estate investor education is productive work. Without a brain full of real estate knowledge you will miss out on a pile of cash. In this article I want to focus on more tangible results related activities. As soon as I am done writing this article (busy work) I will get to the real activities that make me money. For me these activities include calling people who want to sell a house and negotiating with them for the sale of said house. Some of these people might want to offer me a bargain but I will never know unless I call them. I will also be enacting some of my direct mail marketing plan. In this instance I am sending yellow letters to expired listings in my target area. So in between calls, or maybe during, I will be looking up addresses and stamping envelopes. My goal is to make this snow day into a pay day. Now quit reading newsletters, even this one and go do something productive.