The life of a real estate investor is kind of like a tornado. The moment they wake up, they turn into a whirling dervish, collecting tasks that crop up in their path and spitting them out in their wake.
When you have so many things coming at you at once, it can be hard to manage what needs to be done and what has already been accomplished. From missed phone calls to managing your marketing to updating contracts, there is a lot for an investor to manage.
You are one, single person trying to make it in the world of real estate investing. You will never be perfect. But there are tools you can use to manage your tasks so nothing slips through the cracks. There is nothing more detrimental to an investor than a lost opportunity – especially a lucrative one.
Here are some tools that can help all real estate investors stay on top of their game and always in front of the next big deal.
- Live Answer ServicesWe know. You spend a giant chunk of your time – working or otherwise – on the phone with potential clients or other investors. It can be so easy for calls to get away from you when you’re managing them all on your own. Also, wouldn’t it be great to have someone else handle those after hours tenant calls when you’re having a well deserved night out with friends? A live receptionist can take all of your calls, pre-qualify prospects, provide property information and manage yellow letter campaigns.Utilizing a reputable live answer service frees you up to spend more time focusing on making deals rather than screening calls or doling out property details.
- Legal Documents and AdviceThe very nature of real estate keeps its professionals going non-stop. They hardly ever have time to sit down in front of a computer and whip up a legally sound contract or to even make time to consult with a lawyer face-to-face for legal advice. This is especially true for the solopreneur investor. Enter online legal advice and documents.Sites like LegalZoom and RocketLawyer offer a range of real estate contracts and documents that follow state guidelines and regulations. You can also get legal advice from someone in your area right from your computer. RocketLawyer promises a response within a business day or less.
- Social Media Management ToolNot only is the REI community massive on social media, but it’s an ideal place to connect with potential prospects and position yourself as a thought leader amongst those in your industry. Knowing when to post on which channels is a huge advantage since social media moves so quickly. Did you know the lifespan of a tweet is 24 minutes? It’s a fact, folks.Instead of attempting to visit every site to engage and post at the exact right times, why not use a tool that helps you to do both all in one spot? We love SproutSocial. Our social media manager (me!) uses it to measure analytics, engage with our followers and customer service thought leaders, as well as schedule posts for optimal times. HootSuite is very similar. If you’re looking for free, you can’t beat TweetDeck for Twitter. Buffer is good, too!Social media is an important component of staying connected, but it doesn’t have to be a huge hassle. Find a management tool that works for your business and get to posting!
- Task ManagementLet’s go all the way back to the beginning of this blog where I compared real estate investors to tornadoes. How great was that simile? Anyway, an investor has so much going on throughout the day, it seems borderline impossible to store every to-do item in her brain. Sure, you could lug around a daybook or notebook-sized calendar, but those are cumbersome. It’s time for you to check out a task management tool.For managing every aspect of a to-list, something more robust, like OmniFocus, is going to be your best bet. Want a stylish and clean interface? ToDoist is a great free, cross-platform option. Trello is ideal for blog management. Our PATLive Development team has been using Jira for a while and now the whole company uses it for project management.A tool to help you wrangle and tick off tasks will keep you ultra organized and looking professional.
Being on top of trends and getting educated is just one component of being a real estate investor; you gain an advantage by staying ahead of your competition. And what if you’re new to the world of REI? It can be horribly daunting to know where exactly to get started. Enter REIClub!This online database includes a monstrous amount of helpful content for the REI newbies and professionals alike. It also includes a forum where users can connect. This site is a no-brainer tool for anyone interested in REI.
Your turn! What tools do you use to make your days run more smoothly? Tell us in the comments!