Only a Tired, Broke Investor Does Everything Himself

I dont have the money." Its funny that the people who say that they have no money to pay someone $8/hr for a few hours per week somehow manage to come up with thousands of dollars to buy the latest real estate seminar. Paying an assistant is a leap of faithyou pay them for a while, nothing happens immediately, but then before you know it youre finding more deals and have more time and resources to do them. It works. But if you never take that leap, you will just keep puttering alongnot doing any or many deals. But at least youre saving a few hundred bucks here and there, right? Sounds greatnot.

"I dont mind doing the work myself." I dont mind cooking dinner myself, but I dont want to do it for 10-30 hours per week. Isnt there something youd rather be doing besides licking envelopes, making phone calls and delivering simple messages, asking the same boring questions to tenant/buyers who call? If nothing else, get someone else to do these things so that you can spend more time doing things that are more productive, like building a real business instead of getting tied down in busy work.

"I can do it cheaper and better myself." Do you rehab houses yourself to save money? If yes, stop reading right now because theres no chance Ill get this point through to you. If no, then you know that it makes sense to pay someone else to do work for you, so why not apply that principle to other types of work besides renovations? You can do an assistants work yourself, and it will be cheaper so far as less money going out of your pocket. But its not worth it in the end, because there will be less money going into your pocket as there could be if you freed yourself up to do the things that bring you more deals (or get someone else to do those things). One extra deal would probably pay for your assistant for the next year or two.

"I dont have time to follow-up with anyone." Maybe you dont have the time because you are doing everything yourself. What if it took you 10 minutes to to follow up with someone who would save you 60 minutes of time by doing work for youwould it be worth it? Youd find the time to coordinate with them, wouldnt you? I look at spending time with an assistant like I do spending money on a deal or on marketinga necessary and very worthwhile investment. Youd be crazy not to. Make the time and youll have more time.

"No one else can do it like I can." No one else can do what like you canfold letters? Pick up printer paper at the store? Drop UPS envelopes off in the drop-box? Last time I checked, anyone can do those things. So, if nothing else, find someone to do only the things that would be difficult or impossible to screw up. This will give you at least a few more hours per week to do the specialized work that only you can do. Youll find that once youve done that, you can trust your assistant (provided you hired right) to do other work for you as well, starting with the simplest tasks and working up to more complex things, all according to your level of comfort.