How Much Value Do You Put On Your Time In Property Investing
Here is some food for thought for property investors who are into renovating, who have several properties and plan on increasing the number of properties as quickly as they can.
Property investors are educated to think Return on Investment (ROI) and Return on Equity (ROE), but how many actually think Return on Time (ROT).
When you have finished a renovation, have you ever sat down and worked out how much it has actually cost you in time? Most property renovators are keen to ’save dollars’ by doing jobs themselves, and with one or two properties this could be viable by not considering the value of time, but if you really want to accelerate your property portfolio then it is time to consider taking your time into consideration.
To maximise ROT there are certain considerations to make:
- Work out what jobs could be done better and quicker by someone else. It may be painting, rubbish removal or even the book work for your property investments. Find reliable qualified professionals for the work that you want to delegate.
- What areas could you focus on better if you were not distracted being hands on at the properties – searching for better finance, finding better deals, finding real estate partners. Lack of focus stops many people from achieving their goals.
- Treating your time as the commodity that it is ONE WHICH YOU WILL NEVER BE ABLE TO GET MORE OF. Take out to consider your time management. What areas of your property investment business do you waste time on? Is it searching for properties when a buying agent could do that for you, is it running around looking for tap fittings, when a decorator could do that for you?
Follow your dreams, but realise that it will take organisation and planning to make them come true.
Filed Under: Investment Strategies
About the Author: 
