If I told you it’s possible to invest just pennies on a tool for your real estate investing business that could offer you a rate of return worth hundreds or even thousands of times your total investment, you’d be on it like a commuter on a $2 gallon of gas, wouldn’t you? That’s the kind of lasting impact a virtual assistant can have on your real estate investing business, so if you haven’t jumped on board and begun capitalizing on the growth opportunities represented by this little-known resource it’s time you stepped out of the dark ages and embrace some of the perks of the new economy.
The term “virtual assistant” carries a lot of mystique, but the concept isn’t new – but the delivery device is. Personal assistants have been around for years and that’s essentially what a virtual assistant is: a person that helps to make your life easier. The virtual part comes in when you factor in the power of the Internet and all of the varying time zones in the world. Your assistant can work remotely from anywhere in the world to help you build your real estate dynasty – even while you sleep.
You’ll invest some time in training your V.A. and bringing him or her up to speed on how you work, but the benefits will be almost immediate and ongoing. Literally the gift that keeps on giving, the more time and effort you spend on training your virtual assistant in how to perform the various duties you want done, the greater their value will be to you. Initially you may only want your assistant doing a few things, but as time passes you’ll turn to your assistant for more and more as their knowledge increases. Here are some of the primary reasons to bring a virtual assistant into your investing world:
1. A virtual assistant is a good start on building your team. When you’re first getting started as a real estate investor you’ll need to begin building a team of providers in a variety of areas. Ultimately you’ll need accountants, attorneys, property managers, etc., but by beginning with a virtual assistant it will give you low level exposure with how best to collaborate with others. As you define – and refine – the way you work with your virtual assistant it will help you to learn how to approach remote relationships with others who will be charging you considerably higher fees. Knowing what you’re doing will cost you much less in the long run.
2. A virtual assistant will increase your stature. Even though they’ll be working remotely your virtual assistant will have the ability to enhance your credibility with clients and others with which you interact. Depending upon the level of responsibility you give your assistant your assistant may be sending emails or even speaking with property owners on the telephone. Voice Over Internet Protocol (VOIP) telephone service providers such as Vonage make someone half a world away as close as the nearest telephone. And they can have a local telephone number so nobody has to know!
3. A virtual assistant can reduce your stress level. Your workload will vary and the more work you have to get done the higher your blood pressure is likely to rise. If you’re beginning to feel like you can’t afford to die until you’re 110 because you’re simply too busy, it’s time you cut your workload and your stress. You really don’t enjoy answering email from the wayward soul without a job who wants who wants to buy a house with no money down and payments of $100/month, do you?
4. A virtual assistant will improve your lifestyle. When you initially started investing in real estate you had visions of 30 room mansions, exotic sports cars, and bulging bank accounts. You didn’t count on having to find a decent plumber at 3 AM – from 1,000 miles away because your property management company isn’t answering their phone. Until you can get your hands on that mansion you’ll still have time to chase your kids around the yard or just relax.
5. A solid virtual assistant can help you close more deals. There are numerous functions you’re responsible for that just don’t excite you. You know they have to be done in order to move on to the aspects of investing that you live for: locating properties, research areas, doing the cash flow analysis, and turning profits! This is the most compelling reason to embrace your assistant – virtually!
Your virtual assistant can take on as many or as few responsibilities as you choose. You’ll have to invest a little time and effort in training your virtual assistant so they can pull their own weight. A good virtual assistant will be worth many times what you spend. Ben Franklin is credited with coming up with the “Rule of 72” – with proper training the return you’ll reap from your virtual assistant will make the “Rule of 72” look like a cheap penny stock.
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