Wow! What a month it has been. If anyone knows what I am talking about it is about the Get Motivated seminar that was held at the Intrust Arena. Which in turn lead to 3 more seminars the following weekends. Learned a lot and it was a good shot in the arm for those of us who are stuck in a rut, the realtors, the unemployed, and the professionals.
JJ and I knew we had reached that point in our work on the rentals and property management. We let the work get in the way of our continual learning and self-improvement. There’s plenty of work. But our cash flow remained basically the same as our work load increased. Thus, we needed the motivational shot in the arm along with identifying what we needed to work on.
We knew or weakest point was leverage. We didn’t employ enough leverage from the standpoint of hiring folks to help us, to better understanding the electronic tools, to using less cash down even in this tightening economy.
We had the “loverage” down. We still love what we do in real estate investing in that it isn’t considered work for us. Yet, the way we were going about it, the system we had, was starting to fail us as we grew larger and taking on more work.
So, as we have taken on new things to learn, we will be spending a bit more time in further training during the month of September. We haven’t given up on our real estate, but we are going to find a way to break into commercial real estate, yet, along with building additional streams of income on the side.
So in the meantime, JJ and I will be looking for that ideal person to work with us in managing properties and doing light maintenance work. The work is part-time and could grow to full time fairly quickly. The starting pay is lousy, the hours are unconventional, and the work can be nasty and dirty at times. However, the ideal candidate is a highly energetic, motivated from the inside-type of person, willing to learn everything there is about real estate management and investing. They know not only to work their part but also to go above and beyond the call of duty often. Thus, within a year to possibly 5, they too will realize the unlimited income potential.
Crissy and Johnny