This question actually came from one of my coaching students, and I thought it was an awesome question. So I thought I’d share my response!!
As a real estate entepreneur, you will find yourself sitting around sometimes wondering what you should be doing. This is a pretty common problem to have (and not such a bad one, in my opinion). You can easily spend 40, 50 or 60 hours per week in the beginning, if you’re obsessed with gaining the knowledge you need to succeed as a real estate wholesaler. It takes a huge amount of time and commitment to learn everything.
Once you have an understanding of the business and the techniques, and you’ve been practicing for a while (10-20 deals) then your time requirements will be minimized down to 15-20 hours per week.
So what should you do in your spare time once you’ve learned the business and you’ve done all of your daily tasks?
Here are some ideas:
1. Think of some new and creative marketing ideas. Get really wild and creative and come up with things that you havent seen yet, or that aren’t that common.
2. Run some Craigslist Ads.
3. Watch Jerry Springer.
4. Go to the gym.
5. Put out more bandit signs.
6. Start thinking about how you can outsource your business.
7. Contact and follow up on some old leads.
8. Eat some pie and ice cream.
9. Do some work on your website. Make sure the forms are all working and everything is up to date.
10. Research another avenue of the business (i.e. Lease Options, Sub To, Rehabs, etc)
11. Make an estimated tax payment.
12. Take your dog for a walk.
Ok so there’s a dozen ideas (some productive and some not), that you can do in your spare time while you’re waiting on another motivated seller to call your phone!! As long as your marketing plans are working in the background, then its only a matter of time before another seller will need your help.
Dont feel guilty about a full time income on part time hours. Instead, be thankful that this is the career that you’ve chose and you have that capability.