We have this belief that work should be done on work time and personal stuff should be done on personal time and that the two really shouldn’t mix. Nice in theory but life is far more complex than that. After years of trying to keep them separate, I now flat out mix them, knowing it’s going to be okay and hey maybe even preferable.
When I was working and I was worried about a sick kid, let’s be honest my mind wasn’t on work. However, many times it worked the opposite way too. I spent many a night concerned about a looming firing or choosing the right hire on personal time.
On My Own
Going out on my own the lines FULLY blurred. No one really knows my set work or play time. I simply role from one to the other sometimes in a matter of minutes. It took me a long time to move away from the corporate defining your work and personal time. However, once I finally stopped labeling it, life got a ton easier. Today I comfortably talk business in my personal world and personal in my business world, it’s just how I roll. People get used to it and accept that I am an investor, mom and wife. Talking to me you are likely to hear about it all.
Getting over the what belongs in what box was one thing but as kids came into the picture, mixed with their multiple activities it got significantly more chaotic and downright messy. My available time scheduled for work sort of became less and less. If I wanted this thing called “investing in real estate” to continue and grow, I needed to find ways to fit it into my increasingly chaotic world as opposed to the other way around. I am not going to lie to you, from the inside looking out I am a lot of fly-by-the-seat-of-my-pants. You need to be able to strike at opportunities when they arrive, which isn’t always the most convenient times for extremely busy families. Over time I developed these five philosophies for my investing, that allowed me to play at the pace I could keep… but hey I am still in the game…
#1 Cut myself some slack.
I don’t need to do every deal that comes across my desk. If I get a deal and the timing is bad, so be it, there is always another deal. Pass it off to another colleague in good faith, wholesale the deal for some quick cash or if need be… walk away. This Isn’t a Race!!!
#2 I do not need to find the best deals on a regular basis.
This can be very time consuming. For me, not every deal is going to be a homerun. Accept that and take the ones that look good but maybe not great. Better to take action than to sit on the sidelines. Waiting for the homerun you lose time on the learning curve. In 5 years all the properties start to look about the same.
#3. With limited time and frankly energy you really got to pick your battles and sometimes make the choice to not have any battles.
I don’t try to negotiate the best prices, terms, or whatever. My goal is to get a fair price for a fair job. It is so much easier for me to move on from an undesirable trades person or deal than to battle for what I deem is fair. I figure if I need to battle for a fair price, those conditions are never really going to go away and I will need to be battling every job. Simply do not have the energy, time or desire. Doesn’t mean I don’t occasionally get new quotes but loyalty to fair partners so makes my life a million times easier.
#4. I may not always have the best strategy or location.
For the most part I adapt things as I go and as the market changes. But the truth of the matter is that I am constantly learning, adjusting, educating and improving what I do and my efficiency at it.. I learned I had the most success when I focused primarily on one strategy that can bring multiple good opportunities as oppose to multiple strategies that simply put me in confusion on what to do. I know my future self will be grateful for the portfolio that I acted on.
#5. Keep things as simple as possible.
This means I am not regularly using some very creative and profitable financing or acquisition strategies. Sometimes it is just easier to go with the familiar and multiple versions of it, than to head down a path requiring education to at least one party in the deal and usually their lawyer… EVERY TIME. Most of the time I just want to move forward in the easiest way possible, least resistance, and most important least amount of your precious time.