Speaker 1
Maybe it's like cultivating a field that you're growing and the field demands what you need to do. So you got to weed it, you got to water it, you got to plant the seeds. But once you start to get into a side hustle or you become a real estate investor, you almost have to think like a hunter. What do I need and how do I go get it? So you definitely want to set stuff aside in your calendar where you're saying from this time to this time, this is what I'll be doing to help keep yourself on the path.
Speaker 2
Yeah, one thing that I want to say too is oftentimes in this world of 9 to 5 jobs and side hustles, you know, when people want to make more money in real estate, they're like, well, I don't have time. I don't buy into the concept of I don't have time. I think that people make time for the things that are important to them. And so if you're the kind of person that is trying to do more real estate, but you say, I don't have more time, well, you sure you do. You might just have to wake up 30 minutes earlier or stay up 30 minutes later, working on your business. It's not easy. Like you do have to carve out time and you do have to make sacrifices. But if it's important to you, then you have to figure out how to carve out time so you can make advancement in your goals. And
Speaker 1
that might be a better way to look at it. Instead of saying, well, here's what I need to go do, say, well, what am I willing to give up? I'm willing to give up 30 minutes, 60 minutes of Netflix time. I'm willing to give up time that I was scrolling on social media. I'm willing to give up video game time, whatever it is. And I'm going to replace it with making progress on my side hustle. So here's a few things you can think about. Plan an evening, a lunch break or a weekend to work on your investing and stick with it. Keep that consistency going. So this might mean setting some time aside to analyze properties, setting some time aside to create lists that you're going to call, or even just setting aside time to find your loved ones. Let them know. I'm looking to invest in real city. If you hear about anybody that has something to sell, set goals for what you want to accomplish weekly and create that discipline because when you have a job, you just have to show up on time and they tell you what to do. It's a little bit different when you get here. So be like Rob and I and make your calendar your boss. Our calendars tell us what to do. Your calendar should be telling you what to do. Also that way you make sure your priorities don't get missed. Awesome. All right. Well, let's head on to tip number two here, which is to lean on automations in services.
Speaker 2
And I know that this sounds kind of more complex than probably what it actually is, but I think we get into this world when you're doing a side hustle, you tend to do everything, right? We're like the entrepreneur of our own business. And so that I think tends to create burnout a little faster, especially if you don't do number tip number one, create office hours where you can really dedicate yourself to that focused amount of time. So I think it's really important to automate what you can for your side hustle. But, you know, there's a multitude of ways to do this in real estate. This could be paying for lead generation services or a lot of people might be surprised by this one, paying a property manager to help. If you're working a nine to five job and you're running a short-term rental or a long-term rental, as much as we want to make as much money as possible, it may just make more sense to have a property manager in place while you build that business until you're ready to take it over full time. Here's a dilemma for you, Rob.
Speaker 1
What if hiring a property manager caused me to lose $500 a month on a property, but with the time I got back, I could make $2,000 on a side hustle?
Speaker 2
Is this a smart move or is this a foolish move? I think the obvious answer is you do have to think about your time as a dollar amount as well. And if you can pay someone, let's say, $20 an hour so that you can then go out and make $100 an hour, right? Then obviously that's going to be worth it. And when you look at the situation that you just talked about, most people would say, well, that's crazy. I would never want to lose $500. That's a dumb decision. But if the delta on that is you're making $1,500, then you have to start kind of macking out your life that way, which gets really crazy in this world of entrepreneurship. And
Speaker 1
that's one of the reasons we use this phrase portfolio architecture, because if you look at every single property as its own subcategory, it is never okay to lose money on a deal. So you can't afford property management because the property won't cash flow. But if you look at the whole picture like, well, I could make a lot more money in a business or a side hustle or buying more property or flipping something else, then it actually makes logical sense to lose money on a deal to make more money somewhere else. And this is one of those things that you need to think about when you're leaning on automation and services because you may have to spend some money for those things. And it's hard to spend money when you're not used to it. But if that frees up your time to pursue a bigger net worth in the future, it could be a good investment. For sure. And let's even talk about not automation. Let's talk about services here. These are kind of some low hanging fruit things that people can
Speaker 2
do that are expensive as a service, but we're honestly end up probably saving you money in the long run if you, you know, if you're very good at making money, right? So a couple of things would be paying a housekeeper. I have a housekeeper that comes to my house every two weeks. And it's not something that I proudly say because it always makes me feel lazy. However, it keeps the house clean and I don't have to spend hours doing it. I hire a landscaper to come to my property two times a month as well. I don't have that big of a yard. You would look at my yard and say, I can't believe you pay someone to do this. However, that frees up my Saturday so that I can hang out with my kids. Third idea would be like hiring a meal prep service, which I actually haven't done, but everyone like literally all of my friends are like, dude, just pay the $7 per meal because you shouldn't be cooking
Speaker 1
in your kitchen while you could be out there, you know, building your empire. So that's a couple of ideas on that one. I'm in the same boat. I recently just hired a new person to cut the grass at my house and it's not big at all. It's a tiny little strip in the front of the house and then a small backyard. But the thing is my HOA finds me if I don't cut the grass. It's actually kind of a crazy HOA over there. So it saves me money to make sure that somebody is cutting the grass and it takes it out of my head. I like to be focusing on dollar product activities. How do I get the next deal? How do I do the next podcast? How do I write the next book? How do I find the next lead? When I'm thinking about, did I mow my grass or do did I do my laundry? It takes you out of the game. And I think a lot of people have a hard time working on their side hustle, progressing their career because they don't want to let go of what they already have. They've got a routine that works for them in life. I cut the grass on Saturdays. I cook my meals. This is when I go shopping and to get out of that, you're going to drop some balls. You just have to be okay to drop some balls in order to be able to juggle the better ones. They're going to help in your
Speaker 2
career. Rob, you look like you got a lot going on behind the eyes right now. I was just thinking about that time that Brandon Turner was bragging about how he was really proud that he hung sheetrock on his ceiling. He was like, I did it, man. And you're like, Brandon, you could have paid someone $150 to do that. And you could have gotten more rentals, but you chose to do it yourself. And I think there is something to be said about. Sometimes it's therapeutic to do these things. So don't feel like you have to delegate every single thing in your life. If you like mowing the yard, like I know a lot of dudes that love mowing their yard, they're obsessed with their grass. That's totally fine. Do what makes you happy. But if something drains you, get it out of your life
Speaker 1
and focus on the things that matter.
