Question: I’m working a full-time, 9-to-5 job and find it difficult to manage my real estate investments. I’m relatively new to real estate investment and am considering pursuing it full-time at some point in my life. However, I can’t quit my job right now, as it provides me a regular source of income, which is important for me as I have student debt and other financial commitments.
Working a full-time, 9-to-5 job and managing real estate investments alongside can be highly challenging and overwhelming.
However, if you’re committed to building equity and interested in long-term wealth creation, then you need to find the courage and time to manage your job and investments simultaneously.
Keeping your job and managing your investments is actually a good move. It will provide you with steady paychecks that will give you financial security.
More importantly, you’ll be able to wait for the best opportunities and make better real estate investment choices.
Here are three smart tips for managing real state investing alongside a 9-to-5 that you should follow:
Time management is the key to success!
The biggest problem for real estate investors who work a 9-to-5 job is time management.
You might think that you only spend 8 hours on the job but add getting ready in the morning, commute, and lunch, and the number will easily exceed 10+ hours.
This doesn’t take into account your family time, or exercise routine, which is essential for your mental and physical health.
Therefore, you should create a schedule and stick to it to manage your time effectively. This will require strict discipline and self-control.
Plan your work ahead, set priorities, minimize interruptions, delegate, and set deadlines for yourself to remain productive during work.
Utilizing the first half of the day efficiently will enable you to focus on your personal life as well as manage your real estate investments.
Make the most out of your time!
You should carefully evaluate your schedule and learn to make the most out of your time.
For instance, if you get an hour of lunch break, finish your meal in 30 minutes and use the other half an hour making calls and looking for investment opportunities in the market.
Remember, knowledge is power in real estate!
You can also listen to realty audiobooks or investment podcasts or during your daily commute.
If you use public transport, you can read a book about real estate investing.
Alternatively, you can also utilize this time to freshen up your mind by writing a blog or watching an episode of your favorite show. This way, you can remain more productive throughout the day.
Hire a property manager to make your life easier
Sticking to a rigid schedule—albeit effective—can be extremely demanding, especially for those who work a mentally taxing job.
If you find it difficult to stick to a strict routine, you can make your life easy by simply hiring property management services.
An experienced property manager will help you manage all your real estate investments.
Hiring a property manager will pay you long-term dividends in the form of improved financial, mental, and physical health. From looking for new real estate opportunities to dealing with tenants, they will carry out all the responsibilities so you can live a more balanced life.
KH Consultants is a proudly woman-owned business that offers complete property management services to help clients manage their real estate effectively. We’ve got a team of experienced property management consultants who handle all your real estate investments and maximize your wealth. To request a quote for our services, contact our representatives at (347) 987-4063.