A Day in the Life of a Real Estate Investor

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Dynamic is one of the best words to describe a day in the life of a real estate investor. While daily disciplines are necessary, the decisions and opportunities from one day to the next fluctuate.

Real estate investing is not for someone who desires repetitive routines and decision-making on autopilot.

Real estate investors are fluid individuals seeking opportunities that help people prosper.  

Real estate investors who are most successful do good business – helping those struggling financially in their current homes while simultaneously earning good profits by doing so. They build and strengthen local economies; they don’t ravage and destroy them.

Glenn and Amber Schworm, founders of the Home Flipping Workshop, are successful real estate investors who do good business. Glenn advises real estate investors about what a day in life should resemble.

According to Glenn, a day in a real estate investor’s life depends upon the business development stage. Glenn believes there are three stages to building an enduring real estate investment enterprise:

1. The Beginning Stage of Real Estate Investment
2.The Growth Stage of Real Estate Investment
3. The Mature Stage of Real Estate Investment

The Beginning Stage of Real Estate Investment

The beginning stage of real estate investment requires the investor to learn a vast amount of information.  

This stage may last 2 – 5 years, depending on the amount of time devoted to training and field application.

Launching your business is crucial because the new investor is learning vast amounts of information while using that information in the marketplace.  

The new investors who find success apply daily disciplines that result in multiple opportunities. Those disciplines include:

  • Learning strategies and when and where to apply them.
  • Working with a Home Flipping Workshop mentor who permits access to the inner workings of their business.
  • Networking with multiple influencers to find off-market properties.
    • Code enforcement personnel
    • Estate attorney’s
    • Tax office employees
    • Municipal foreclosure specialists
  • Stat Making phone calls to meet with troubled homeowners.
  • Driving for dollars.

    • These daily disciplines are critical to your growth and development. A  trustworthy business emerges when:

    • New real estate investors become adept at successful strategies,
    • Build viable relationships with market influencers, and
    • Are no longer nervous about phoning troubled homeowners.

    It’s a one-person show at this point. Continually working with your mentor will soon reveal that you need to build a team.

    The Growth Stage of Real Estate Investment

    The growth stage of real estate investment is about team development.  

    Once you have done multiple deals, you discover that you should not invest your time in too many ancillary tasks. You realize you can do more with help.

    At this point, you build a team of individuals to support you. You can best spend your time generating revenue, which means finding deals. However, you need help to allocate more time to this crucial task.

    Therefore, you as an investor must shift your paradigm from doing to managing. Here’s how you can make this critical shift:

  • Hire an assistant: A person to handle incoming phone calls, finds materials at a discount, schedules meetings, and may even need to attend training with Home Flipping Workshop.

  • Hire a Project Manager: A person to oversee all construction projects. He/she may be a contractor, but not necessarily. This person ensures that the scope of work is being implemented on each job site, uncovers the genuine reasons for delays, pays workers weekly, and is adept at finding troubled properties.

  • Hire a General Contractor: A person on the job site. He/she is reliable, licensed, bonded and insured, and should provide a portfolio of his work. He is critical at all stages of flipping, especially at the point of negotiation. One that can see what you cannot. One that can help build your repair estimate accurately and prevent unwanted surprises after purchase.

    • Building a team of individuals like this will free up your time to do the critical task of finding more deals. You are doing fewer activities but more of the same action – finding good deals.

    Additionally, a good team allows you to continue to develop as a real estate investor.  

    Yes, it would help if you still had development. If you master this stage of development, you can do something not many achieve – become a leading real estate investor.

    The Mature Stage of Real Estate Investment

    At the mature stage of real estate investment, you experience another paradigm shift. This shift takes courage and a strong team whom you can trust.

    Becoming a leading real estate investor means transitioning from managing to leading. In this stage, you replace yourself. Do you get it?

    In other words, have someone else accomplish daily activities as a real estate investment business manager. This person is an adept real estate investor who has undergone training and is likely being mentored by you. The business manager must be deeply engaged and is paid handsomely for insight and experience.  

    A business manager is qualified to do what you do, and if you’ve been a good mentor, the individual will perhaps be able to perform the job better than you.

    As a leading real estate investor, you have built a durable business. It can function whether you are present or not. Your activities change from day-to-day management to leadership.

    As a leader, you:

  • Cast a vision that inspires and attracts.
  • Provide a comprehensive mission statement explaining how to achieve the vision.
  • Create company values that dictate how to undertake the mission and achieve the vision.
  • Expand your horizons. Look into other markets in various states and build relationships with key players in those markets.
  • Invest in projects that your company does not undertake. Yes, you can become a source of private capital.
  • Create a Board of Directors who can ensure compliance and provide helpful insights for business development.

    • Much more happens at this stage, but the above are the most common. At this stage, you are a leader and the leader of your business. Be sure to lead and not manage. 

    Observe, suggest, and critique, but stay out of the way. Let your team do what they do best.

    How to Learn More About Day-to-Day Operations of Successful
    Real Estate Investors

    Developing a successful business as a real estate investor takes time. It is a process that may take years.

    Watch Glenn Schworm as he shares helpful insights in his video, A Day in the Life of a Real Estate Investor.

    Join Glenn and Amber Schworm at their upcoming Home Flipping Workshop. Learn the basics and then continue with them and learn the complexities. It’s a journey worth taking.

    While daily disciplines matter as a real estate investor, no day is identical to another.  

    The subtlety of investing maintains engagement. The ability to bring what you see in your mind’s eye into reality is enthralling. 

    Perhaps the most rewarding is watching a young family or a single woman or man secure a home they’ve longed to possess.  

    Success is always the dynamic of a great day.