What’s Your Time Worth? Every Investor Needs This Assistant ROI Calculator
Summary
This article emphasizes the importance of time management for real estate investors, including STR hosts. It advises hosts to analyze how they spend their time and delegate tasks that are low-value, freeing them up to focus on high-return activities such as securing deals and improving their strategies.
Key Insights
- •The Pareto Principle, or 80/20 rule, states that 80% of your results come from just 20% of your effort.
- •If delegated correctly, hiring an assistant pays for itself, as it frees up your time to focus on the things that give you the biggest returns.
Action Items
- ✓Identify tasks that generate the biggest return on your time, such as making deals and networking, and delegate low-value tasks like tracking leads or handling expenses.Effort: lowImpact: medium
- ✓Spend a week calculating how you spend your days, and identify time-consuming tasks to delegate to an assistant.Effort: lowImpact: medium
Tools & Resources
- →BELAY’s free EA Task Calculator: You can use an Excel spreadsheet to track your time manually, or use a calculator tool like BELAY’s free EA Task Calculator.
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