Scaling Your Property Portfolio
There is only one word for scaling a property portfolio…
Delegation!
Delegation doesn’t mean building a large group of employees. One of the best ways to scale is to hire a virtual assistant. You can find these virtual assistants from upwork…or formerly elance. These virtual assistants can answer phones…schedule viewings…deal with tenants etc. You name it…they can do it. I have used virtual assistants in the Philippines and has been a great experience. Using virtual assistants have even helped us source properties. For instance for our HMOS we are looking at specific postal codes with specific number of bedrooms and reception rooms that might need refurbishment. The virtual assistant can scour zoopla or rightmove. They can even call estate agents and see if the property is still available. Then they can confirm with one of us and schedule a viewing for a Professional HMO or a Social housing HMO.
The key is focus and maximize your time.
- Write down every thing you do during your day. Hour by hour…and keep track of it as you go about your day. Then at the end of the week, look back and evaluate which tasks were essential and needed to be done by you (at least for now) and which can be given to a virtual assistant.
- Mastermind. Make a list of everything you do in your business. Which items are the most important? Which are you good at? What could you offload to a subordinate? What do you need to offload because you’re no good at it? Once you’ve come up with a list, break each thing out into these various categories.
Thinking in this fashion lets you focus on your property business. It is truly a business. We are running numerous refurbishment projects for Professional HMO and Social HMO projects….constantly sourcing…constantly dealing with potential buyers of our properties. It is never ending…some days are completely mad…
Recent Comments