LEVERAGE
Surrounding yourself with an entire investment team is one of the best things you can do as a property investor . This team will include property mentors , attorneys , accountants , bankers , bond originators , estate agents , letting agents , and maintenance specialists .
No matter how hard you try to succeed in property investment all by yourself , at some point , you will need others to help you ! You are going to be hard-pressed to do everything by yourself and even if you could , it is impossible to be good at everything .
Leveraging OPS in building your property portfolio enables you to tap into a wealth of expertise , diversify your capabilities , and optimise the success and growth of your real estate investments !
3 . OPT – Other People ’ s Time
Every single time any task or activity comes across my desk , I ask myself : “ Is it possible for me to delegate this task to someone in my team ?” Time is the most precious commodity that you will ever have and the sooner you realise this , the better .
Warren Buffett once said , “ The rich invest in time , the poor invest in money .” As a property investor , time is one of your most finite resources . There is only so much that you can do in the 24 hours you have today . And if you don ’ t learn to leverage other people ’ s time , you will never build anything of significance . The more time you free up , the more you can focus on strategic decisions and expanding your portfolio !
Start leveraging OPT today with some of these ideas : - Outsource or delegate tasks like property management or repairs . - Use professional services ( legal , financial , construction , etc .), and - Automate or use software .
Real Estate Investor Magazine APRIL 2024 39