How Working This Business Part-Time Helped Us
I’ve mentioned before that for the first several years, my wife and I ran this business part-time. We both had full-time jobs. We HAD to make the time outside of work to educate ourselves and do what it took to get started. We drove around on weekends looking for vacant, run down properties (the thing the kids got tired of after a while - but we never did) and then would spend hours looking up who the owners of the properties were, handwriting letters and stuffing envelopes.
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The kids even helped to hand write the address on the envelopes as that greatly increases the open rate for letters. You can imagine getting a letter in the mail that looks like the address was written by someone in elementary school- tell me you wouldn't open it! We made the time to do what it took, but more importantly, having limited time to do all of these things made us...
FOCUS ON THE MOST IMPORTANT TASKS! 20% of what we do produces 80% of the results!
There is not a truer statement. People get caught up just doing things they are comfortable doing and running in circles thinking they’re getting somewhere. This is the biggest lesson we learned and working the business part-time FORCED us to learn it. Make sure you are not just working on tasks that you are comfortable working on just to feel like you accomplished something. We need to focus on what produces the results we need at the moment and work on those things. Don't worry, I'll help you! I won't just leave it vague like that.
The most important thing we need to work at is getting in front of motivated sellers (or inside bank-owned properties) and making offers. You will be getting outside your comfort zone often when you get started, but I promise it will become comfortable. If you don't force yourself to get your marketing out and get in front of sellers for fear of what might happen, you will just end up doing what is comfortable like finding houses that look vacant and run down or that are bank-owned on the internet, but never doing anything about it. That does you no good.
I was bad about getting out of my comfort zone as well. Melissa used to get on to me about all of the different SWAG (pens with Danny Buys Houses on it, refrigerator magnets, etc.) that I was always designing and ordering, ONLY TO HAVE THEM SIT IN MY OFFICE. I wasn't doing anything with them. Designing and ordering those things made me feel like I was accomplishing something. What I should have been doing was sending out more letters or calling ads on craigslist and actually working on finding people that wanted me to buy their house.
To sum it all up, working this business part-time really forced us to get out of our comfort zone and do the things that really mattered. We didn't have time to waste working on minor things. We had to do the things that got the phone ringing and got us leads. So don't let the fact that you might have to start flipping houses part-time keep you from getting started. I think it's better to start part-time!