The biggest advantage of having your own business is having control of your time.
Unfortunately, the old joke is that most small business owners work half days – in other words, 12 hours a day.
You can set up your real estate business to work a couple hours a day and still make a great living. I have lots of students who are doing it right now.
This video shows you how I set it up for myself…
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Read Transcript for “How Many Hours Per Week Do You Work?”
“How many hours do you work per week?” – Mary Lasco, Atlanta, Georgia
Joe: I work quite a few hours; I probably work 40 or 50 hours a week on average. At real estate, I probably work eight to ten hours a week, so I don’t work very much at real estate.
Joe: But I have a lot of other things going on. I have a lot of interests. I’m working on a documentary that has nothing to do with real estate, a historical documentary, and we’re going to film festivals, so I have other things that are going on.
Joe: I like to spend time with my kids and I do things with them in mind. One of the things I’m trying to do with my children is that I’m trying to find out what their interests are, and a lot of times their interests are the same interests as mine, so I try to pursue things in that field so that I can help them discover what it is they want to do in their life. They’re different people than me so they’re going to want something different.
Joe: My son is interested in game design. My daughter is interested in filmmaking. I’m pursuing both of those things because I want to be involved in their life as they get older and I’m hoping that they’ll even want to work with me at some point in the future (that would be cool). And I’m also doing it because I’m interested in those things. I’m interested in pursuing those two topics and I think there’s profit to be made in them as well as being a lot of fun, so I’m pursuing them.
Joe: I’m able to do that because I have the time to do it and my business gives me the time to do it. I have a lot of students and their goal is to work two hours a day and then be able to take off a week every month, and they do that and still manage to make a six figure income every year.
Joe: So it’s not that difficult to do if you have automation, outsource properly and you set your business up. But it does take time to get your business up and running. I tell everybody, ‘Give yourself three of four months before you can expect to make money in this business at all.’ Now, I have people who make money in a week or two weeks, but they’re the exception, not the rule, so don’t expect it to happen in a week and then get discouraged and give up because it didn’t happen right away – give yourself the time to succeed – give yourself the time to learn.
Joe: This isn’t rocket science. You don’t have to be a brain surgeon. You don’t have to spend ten years to learn this business. You can learn it in a matter of months or even days. You can start making offers in a matter of hours. With my mentor students, I have them making offers within six hours of the time they start my program and with my buying event, I have them making offers within two hours of the time the buying event starts on that Saturday morning.
Joe: They don’t always come together; they don’t always make money on those particular deals, but, they do learn about how to make an offer, how to get it accepted and what the next step is and what they have to do to get the property sold once they get a signed agreement that gives them the right to that property or puts them as a principle on that transaction.
Joe: You can learn all of these things as well, and once you learn them, then you can outsource them and be able to move forward with them. Hopefully, that answers the question. I tend to go off onto tangents, don’t I? Thanks a lot. Talk to you next time.