Top 3 Commercial Real Estate Investors Time Management Strategies

One of the questions I get asked a lot from clients is how do I manage multiple real estate deals projects all at once? Here are some specific strategies for you to consider:

a) Who to spend time with?

You need to consider spending BUSINESS TIME on only those who are going to contribute to your bottom line and goal achievement. All else needs to get put into the "we'll get back to you" pile. It is easy to get locked up with people that do nothing but take up your time. Don't do it.

I constantly have people wanting to meet with me, talk with me, etc. that don't contribute to the achievement of my goals they get put on the bottom of the pile and sometimes I never get back to them.

b) Keeping away from time vampires.

Time vampires are those that call you, come into your office, and tell you the "whole story" constantly. You need to politely tell these people "adios". You ever notice that you have those days where you have a lot of activity and by the end of the day you really have not gotten anything done? Time vampires are the main reason why.

c) Having a clear objective in the first place.

What are your goals, your objectives?? Where do you want to end up? How do you plan on getting there? Without a plan you will be spinning your wheels and the cash flow and value of your will suffer because of it.

So, there you go. We did not reinvent anything today, but it is surprising how the use of your time is tied to your income and the results you want.

About Darin Garman, CCIM?Considered by many to be one of the foremost experts in North America on Apartment and Commercial Property Investments, Darin Garman assists investors in maximizing their wealth through commercial real estate investments. Over the last 13 years Darin has assisted investors in the purchase and sale of over $300,000,000 in apartments and commercial real estate, and has direct ownership and management of over $11,000,000 in investment real estate himself. Darin is a frequent guest on radio and TV talk shows, and has co-authored books such as ?Wealth Attraction For Entrepreneurs...The No Holds Barred Kick Butt Guide To Becoming Rich?, which was co-authored by Darin with business and marketing guru Dan Kennedy. ***** Have you taken advantage of the "FREE 2-Month Test Drive of Darin Garman's Commercial Investment Property Owners Association Membership" ? Go To: ***** www.garmanupdate.com or www.commercial-investments.com

Property Management Company - Hiring One

Hiring a property management company is a great idea if you have even a small apartment building. Having someone taking care of all the small details of a rental property means you'll have more time to find the next good investment. Also, trying to do it all yourself is the surest way to make your real estate investment experience a bitter one. To find a good property manager, ask the following questions.

1. Other properties they manage? It's best if they have rental properties that are similar to yours. You can also drive by their other properties to see how they are maintained.

2. The fee? They vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.

3. Extra costs? Are showings extra? Do evictions cost extra (beyond the legal fees)? Any other extras?

4. Who actually handles your property? It's best if one person handles your building all the time, and has some experience. Get their name.

5. How and when is the fee collected? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?

6. Type of advertising? Exactly how will they advertise the units and what will it typically cost you?

7. Time and cost to prepare units? What's the typical cleaning fee on a vacancy, and how long will it normally be before it's rented out again?

8. Type of accounting? Which types of reports do they send, and how often? How are accounts set up?

9. Their hours of operation? What are their business hours, and who takes weekend calls?

10. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?

You should ask other questions, based on your particular needs and the particular property. Be sure to ask everything up front, and you'll have fewer misunderstandings, and a good manager. Real estate investing and being a landlord is a lot less stressful with a good property management company.

Steve Gillman has invested in real estate for years. To learn more, get a free real estate investing course, and see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com