Having an assistant is one of the best investments you'll make as a real estate entrepreneur. Like all parts of your business (and yes, buying, leasing, and selling houses is a business), they require an investment of your money and also your time. You'll need to invest a little money in order to hire, train, and compensate them for their services. And, you'll need to invest some time to help them get the job done right – more in the beginning and much less as time goes on.
In exchange for your investment in them, a good assistant will help you to generate much more money than you are paying (bringing you a rate of return that would make any investor jealous). And, they will save you countless hours for every extra hour you spend developing them.
Although many investors are hell-bent on trying to do it all themselves, or think they can't afford one, here is a partial list of reasons why you absolutely can't live without an assistant:
You will do more deals. Marketing is probably the best thing to hire an assistant to do. They will help you to execute advertising campaigns that you just would not have gotten around to doing on your own. They can compile lists, print letters, make calls, stuff envelopes, buy supplies, shop around for pricing, and do plenty of other things that generate leads for you that you would not have had the time or inclination to do otherwise.
You will look more professional. When people receive a call from your assistant, they will know that you are a real player. It makes you look successful, organized, and trustworthy. Your credibility with sellers will increase, which will put them at ease and help you to get more offers accepted. Private lender prospects will acknowledge you as a legitimate business and will feel safer sending money to you knowing that you are not a fly-by-night operation.
You will have less stress in your life. No one likes drowning in work. One of the worst feelings on earth is to have more work due than you can possibly hope to accomplish in the time available. Having an assistant will take a huge burden off of your back, especially when they do tasks that you don't like doing or are not good at.
You will be able to build a team. Having an assistant will help you to practice your skills at hiring, training, and managing team members. They are the ideal “starter employee” because they are not difficult to find and can immediately begin doing simple tasks for you. And, there is almost always an immediate use for their help. They will help prepare you to hire other team members when the time comes, if you so desire, such as a salesperson, renovations supervisor, or a purchasing representative.
You will have a better lifestyle. Isn't this one of the reasons why you got into real estate to begin with? When I started my real estate investment company, I had visions of lying around on the beach somewhere, living the good life while the rent money poured in. Then, I found out there's actually a lot of work involved. A good assistant will give you your life back so you can spend it with your family, working on hobbies, or working on your business (which is always more fun than working in it).
I have hired, trained, and managed personal assistants for years. I would never have experienced all of the benefits above if I had been stuck trying to do it all myself (and failing). A good personal assistant will not only help you to grow your business – they will give you your life back.