Virtual assistants are a necessity for real estate investors.
You wear a lot of hats. On any given day, you might find yourself generating leads, securing financing, chasing down deals, dealing with tenants and toilets, and more. That many responsibilities can stretch you thin.
Sound like you? If so, you're in luck.
Today, we'll talk about how leveraging a virtual assistant enables you to delegate burdensome tasks, spend your time on more profitable endeavors, and scale your business accordingly.
A virtual assistant has the potential to help you scale your real estate investing business. They will allow you to do more deals more efficiently, save on expenses, and reduce your workload.
A virtual assistant enables you to pass on some of the toils while improving the efficiency of the processes that make your business operate. The key is to have a dedicated, trained virtual assistant who understands the different nuances that accompany your specific industry.
Time is your most valuable asset; virtual assistants protect that asset by taking on lead generation.
Cold calling is among real estate investors' most effective lead generation methods. While it is effective, it is also challenging to stay consistent because of the time sink and the amount of burnout.
A dedicated, trained virtual assistant can make 400 to 600 cold calls daily. VAs:
A consistent follow-up to your leads usually means money.
Most deals are closed by following up, but sometimes this is left by the wayside because of other equally pressing matters in your business. That costs you deals and money.
Bob Lachance at REVA Globall puts the importance of follow-up in perspective:
All in all, 92% of people are done trying to convert a lead by the 4th rejection. You can automate your follow-up through the use of a virtual assistant. It takes several touches to close a deal.
Another task that you can have your VA do is the property and lead research. While you are out looking for deals and securing financing, your VA can vet the properties by:
Once you train a virtual assistant on how to do these processes, you'll be free to spend your time doing activities that matter the most to you. That could be anything from finding deals to spending time with your kids.
There are several tasks that you can delegate to your VA. These tasks are essential but may not necessarily be the best use of your time. As a result, it might be ideal to leverage the skills and expertise of a virtual assistant.
The most common tasks for scaling that a VA can assist you with include, but are not limited to:
As you grow your real estate investing business, you'll need help. A VA can provide you with that help efficiently and for less money than hiring an in-person or in-house assistant.
Bob Lachance at REVA Global breaks down the savings:
|Virtual Assistant||In-Office Hire|
|- 20 hours: $212 per week |
- 40 hours: $424 per week
Paid time off
Company paid training
- Technology and equipment are provided by VA
- Office space provided by VA
- No state or federal taxes
|- Average Salary for College Graduate: $35,000 to $45,000|
- You pay for the benefits package
- Technology and equipment are your expense
- Office space provided by you
- State and federal taxes
Running your real investing business takes a lot of energy and time. It often requires you to take on several different responsibilities. You have to grow and maintain your business through steady leads.
You can reduce the time you spend generating leads by leveraging the skills of a virtual assistant. A VA can handle the following tasks with accuracy and ease:
Generating leads is a time-consuming process for one person. The time sink and attention to detail it requires can cause even the best of us to miss leads or burnout. If you're not working efficiently, you may let leads languish, pile up, and ultimately lose those opportunities.
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Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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