PORTFOLIO UPDATE: SPI’s property jewels and how much they’re worth today
As an investor, good and bad times are warranted, with a property portfolio best viewed as a business rather than a hobb...
Property investors know that time is money. Learn how to create more of both.
Building a high-performing investment portfolio will take time. Every move requires careful planning, data analysis, and other actions. It can even take years before you start seeing the results that you’ve worked so hard for.
However, this doesn’t mean that you can’t speed up the process.
If you want to achieve your goals sooner, you shouldn’t put in more working hours. Instead, you need to make the most of what you have. In other words, you need to maximise your productivity and add more value to the invested time.
The good news is that there’s a lot that you can do to make this happen.
Here are some of the best productivity tips to follow.
1. Manage your energy
Many people believe that productivity is all about time management. But, that may not always be the case. More often than not, the way you manage your energy is much more important.
Think about it. You have to do your due diligence for a property that caught your attention. If you’re tired and drowsy, everything will seem dreadful. Plus, there’s a higher risk of making mistakes that you’ll have to fix later on.
A much better idea is to save this for when you’re more energised. Maybe do it after doing something that you enjoy or a nap. You’ll get more work done in less time.
Of course, this doesn’t mean that you should procrastinate just because you don’t feel fully energised. Instead, use this time to finish the more mindless tasks, like data entry.
The key here is to match the toughest jobs with the time of the day when you have the most energy. You’ll get everything done more effortlessly this way.
2. Learn digital discipline
Depending on how you use it, technology can be your best friend or your worst enemy. You may scroll through social media feeds or watch YouTube videos for no reason, for example. You already know that this is a black hole of unproductivity.
Instead of letting technology control your time, use it to your advantage.
Whenever you feel an urge to check Instagram, how about visiting a real estate website and check how the market’s doing? Browse through the listings to see if there’s something new out there, or look at educational videos to learn something new about achieving your goals.
Your devices can help you in so many ways in terms of building an outstanding portfolio. Don’t waste this potential on tasks that take you further away from your goals.
3. Delegate what you’re not good at
Know your strengths, and outsource the rest.
One of the most important skills for an investor is the ability to assemble a good team. You’re going to need capable people by your side sooner than later. You should be able to rely on them to complete whatever tasks that you’re not good at.
For example, the legal aspect of property investment is best tackled by properly trained professionals.
Unless you’re a legal expert, it might take a ton of time and effort to comply with all regulations. By focusing on this aspect yourself, you’re sacrificing the work that you can do better than others.
Why not hire a good lawyer that can handle this for you? They can give you all the information you need over a phone call and save you hours of research.
The same goes for other aspects of investing that are outside your scope. Focus on what you do best and get others to handle everything else.
Waste no time
Looking at your schedule, how much time do you spend on high-value activities? Take a close look at what you do everyday and see how you can tighten up the schedule. Even the smallest changes can add up to a big difference.
If you follow the above tips, you’ll see that you have more than enough time to get everything done. Better yet, you’ll get the results you’re chasing after sooner.
Still struggle with the time, motivation or skills to apply yourself to your property goals? Well. It might be time to find yourself a good buyer’s agent who can do it all for you – and then really watch your productivity and wealth accelerate!
By Glenn “Goose” McGrath, dashdot