| Survey
Results--Investor Work Hours & Assistant Experience |
How many hours per week do you spend working on real estate investing?
1-5 -- 24%
6-10 -- 11%
11-15 -- 6%
16-20 -- 9%
21-30 --12%
31-40 --11%
41-50 -- 14%
51 or more - 12%
If you could do at least as many deals or more, how many hours
per week would you like to get down to?
1-5 -- 27%
6-10 -- 23%
11-15 -- 15%
16-20 -- 17%
21-30 -- 7%
31-40 -- 4%
I'm happy working on real estate more than 40 hours per week - 7%
If you could cut your working hours by 50%, how would you spend
your newfound free time?
Hobbies, Golf, Skiing, Etc -- 13%
Travel, Vacations -- 16%
More time with family -- 36%
Start another business -- 25%
Do something else that I really want to do for a living -- 3%
I don't know what I would do with all that time! -- 6%
What else would you do with your newfound time?
Travel, vacation
Spend time with friends and family, find a great girlfriend
Learn more, education, learn 6 languages
Volunteer at my church, volunteer, start a charity, donate my time to ministries, read, philanthropy with early educational for tots, church, help others get started in business, invest in my spiritual life and that of my family
Work more, more business, create massive wealth, make more money, Invest
Relax, sleep, exercise
Catch up on everything that has been put on hold, get to the personal projects around the house, take time for me, create a lifestyle I like
Fly fish, sports, hobbies, surf the internet, scuba, write a book
Who knows
Have you ever hired an assistant for real estate before?
Yes - 36%
No -- 63%
If so, how did it go?
Good -- Great, so far so good, she is knowledgeable and helping
with marketing, great, couldn't do it without her, ok, very well,
Bad -- Paid them too much, not well, poor, I never laid out
the work so it never got done, my fault, horrible waste of money
and frustrating, hardest part was learning how to use them, most
cases it didn't go well, I was unable to delegate, horrible
What are your largest concerns about using an assistant?
Having enough time for them to work, generating enough income to
pay, getting things done the way I want, they don't know as much
as I do, Trust, privacy and being sued after firing, learning curve
to get assistant up to speed, none, keeping them busy, productivity
and privacy, payroll, keeping them focused, taxes, not enough business,
cost, managing their time, messing up the paper work, training,
paying them, they won't do it right, spending too much time on training,
expense, commitment on their behalf, they will not do things the
way I do, quality.
What is the one thing you'd like to know about delegating work
to others that would have the largest impact on your investing?
Selling, how to give up control of the process, how someone can
help my marketing, having enough work for them and logically making
it work, what to delegate, that I can trust the person, time factor,
how to get them to think like me, how to train, how to identify
characteristics of a good employee, a good system, what is the best
thing to have them working on, how to keep track of all the little
things, making the right hiring decision, bookkeeping, trust, forms,
how to keep them from leaving and doing their own deals or stealing
my deals, getting others to follow thru and stay on task, tracking
the profit and loss, where to find knowledgeable assistants, 1099s,
how to have them learn the job without constant hand holding, how
to motivate, your program says it all, cut out the busy work, how
I can duplicate myself, how to do it more, how to pass off what
I do, how to effectively do it, how to let go, how to be organized
at doing it, weeding out properties to buy,
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