Time Management and Productivity in Your Short Sale Business

By: Cory Boatright

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I was responding to a question today from a very experienced investor working in a speciality field of bankruptcy doing short sales. He asked a question that struck a chord in me. I wll paraphrase it and and leave out his name for privacy. I think all of us can relate with this in one form or another.

Hi Cory

What advice do you have on making time to follow-up with banks and lenders? You see, I still have a J.O.B. at this point, but I'm working hard to get past that. I know how to gather up all the standard short sale documents, but I'm struggling to have time for all of them. I want to create focus and systems to move forward. Any input you might have would be appreciated.

I understand where you are coming from on that. It seems the simple answer from all the “gurus” is - just hire a ton of people. However, with you still working a J.OB….I also can appreciate how paying out more money to a full or even part-time employee right now can be a bit intimidating. Don’t get me wrong. I am a big believer in the power of systems and leveraging your time. After-all, we only are given so much of it and until we die. However, if you put 100 regular, average “Joe” type investors in a room you would most likely find that only 5-10% of them have the IMMEDIATE start-up capital to hire people right away. What about the other 90%-95% of us? Furthermore, I also think there is a huge value in “doing the dishwashing jobs” in your business so you can THEN learn how to delegate those responsibilities to other people to run them.

So here are a few quick applications that may help you.

1. Say “No” to the GOOD deals, so you can say “Yes” to the BEST ones.

2. Journal for ONE WEEK where you spend all your time. Write down absolutely everything for that week and the time it took to complete it. You will have a more accurate description and picture of where your time is REALLY going for day and how to focus it to optimize and maximize your productivity

3. Research some proven automation tools and services. The power of technology can be astounding! Start paying CLOSE attention to all items in your business that could be automated. Make a list of those items and analyze how you can automate them. For example, if you do not already use one, your lead generator could easily be handled by an answering service that you sent scripts that had specific questions for the EXACT type of MOTIVATED SELLER that interests you. How much time would you save on the phone not dealing with EVERY CALL?

4. Take inventory and self reflect on your goals with your real estate business. How much money do you really need? What do you want to accomplish in your business? It is very easy to answer those questions with “as much as possible” and “make enough to retire”. Those are feeling…not REAL THOUGHT OUT answers. Take some time and research this. It will give you a MAP to your goals…not just HOPE someday you will reach them.

Thank you for taking the time to read this post. I believe that we have a greater ability to learn more when we ask vunerabe questions like the one above. The power of ASKING can bring healing in many areas of our life.

I hope this helps.

For questions on Short Sales, you may contact Cory at experience@onebox.com

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