142 Why Your Systems are So Important in Your Real Estate Business

03/06/20 • 6 min

A business system is a mechanism for solving or executing issues or tasks that come up repeatedly, and in a streamlined, effortless manner. Business systems can help solve inefficiencies for business owners in any industry, and real estate systems are no exception.

The importance of real estate systems is expressed through a business owner's ability to save time and pursue activities that support the growth of their business.

The system that we put in place are screening tenants, keep track of our invoices, regular meeting with staff members to address any issues, bookkeeping, Maintenance & Inspection systems.

As a business owner you should put these systems in place as early as with your first real estate purchase so that you get used to it and get your business to run as smoothly as possible.

We are REIN members for over 12 years now and when we first started in Real Estate business, we learnt that we should keep 4 files for each property. One for tenant leases, One for Repair & Maintenance and Bills, One for Legal and Purchasing documents and the other for Miscellaneous.

Nowadays, you can put all these files online in a Cloud so that you can access it from anywhere with ease. By implementing these systems you can save time, so that you can serve more clients, scale your business and increase profits in less time.

The following includes a step-by-step overview of how to create real estate systems that work.

Keep track and make a list of each of your business activities.
Pick out tasks that are repetitive or take up a lot of your time.
Observe and document each step required to complete each of these tasks identified in the step above.
Identify components of each process that could be better streamlined or automated.
Once purchased, spend time configuring and integrating tools to your selected processes.
Of these new processes, identify what can be delegated to a team member to help save even more time.
After processes have been implemented and delegated, be sure to leave room for error. Stay upon to suggestions on how to increase efficiency even further, or address any issues that come up.
Finally, make sure to capitalize on renewed time and energy and pursue business-growing opportunities!

To learn more about this topic, Watch my Facebook Live Video here.

If you're ready to scale your Real Estate portfolio and need my help to systematize your business process, join my program 90 Days to $5K.

Reach out to me at [email protected]

To Schedule a Free Strategy Call with me, Click here.

The importance of real estate systems is expressed through a business owner's ability to save time and pursue activities that support the growth of their business.

The system that we put in place are screening tenants, keep track of our invoices, regular meeting with staff members to address any issues, bookkeeping, Maintenance & Inspection systems.

As a business owner you should put these systems in place as early as with your first real estate purchase so that you get used to it and get your business to run as smoothly as possible.

The following includes a step-by-step overview of how to create real estate systems that work.

Keep track and make a list of each of your business activities.
Pick out tasks that are repetitive or take up a lot of your time.
Observe and document each step required to complete each of these tasks identified in the step above.
Identify components of each process that could be better streamlined or automated.
Once purchased, spend time configuring and integrating tools to your selected processes.
Of these new processes, identify what can be delegated to a team member to help save even more time.
After processes have been implemented and delegated, be sure to leave room for error. Stay upon to suggestions on how to increase efficiency even further, or address any issues that come up.
Finally, make sure to capitalize on renewed time and energy and pursue business-growing opportunities!

To learn more about this topic, Watch my Facebook Live Video here.

If you're ready to scale your Real Estate portfolio and need my help to systematize your business process, join my program 90 Days to $5K.

Reach out to me at [email protected]

To Schedule a Free Strategy Call with me, Click here.

Previous Episode

141 Student Buys First Multi-Brand New! None of Her Own Money

Today I am going to introduce you to one of my students from Laser Coaching who is doing an excellent job in Real Estate Investments and is getting ready to close her first multifamily in Edmonton with none of her own money. Zorya started my Laser Coaching program little over six months ago and she has had much success.

Zorya and her husband both are engineers in profession and they have really good jobs but they did not have a retirement plan in place. So Zorya started searching for her options and she and her husband came across investing in Real Estate and they really liked the idea since they can invest in the Real Estate as well as run their business while growing their portfolio and in turn make their financial future secure.

Initially, Zorya joined to REIN- Real Estate Investment Network and learnt quite a bit from that group. Then she started taking some courses on how to invest in Real Estate professionally.

Once she learnt that she got their first single family home and couple other houses on their own and with the help of the family members. Those properties worked out pretty well for them and they started looking for more properties to invest.

As their cash on hand dried out they started looking for Joint Venture Partners and it was not easy for them to find one. So they came to me and now they are doing newsletters and publishing their knowledge and their successes online on social media and they've found their investors by doing so. Zorya really emphasizes that having your presence online on different social networks helps people know what you're really doing out there.

When Zorya wanted to invest in multi-family she started taking courses on how to invest in multi-family and from there she learnt the big differences between investing in single family homes and multi-family. Finally, one day she was approached by a fellow who wanted to invest in multi-family with her by following her online presence and she found her first investor and is able to close her first 6-plex with him.

No matter what your background is, Zorya says if you take proper actions by joining your regional REIN, taking courses on how to invest in Real Estate and working with a Coach, you should also achieve your financial success.

Come meet Zorya at my event Prairie Real Estate Forum 2020

visit https://ednakeep.com/2020-prairie/ for more information and ticketing options.

You can also reach out to Zorya by visiting brei.ca

To learn more about her success story, Watch her interview here.

You can also listen Zorya's interview on iTunes and on www.7figurerealestate.net

To listen Zorya Belanger interview on iTunes, Click here.

Next Episode

143 Becoming Your Wrong Decisions

Sometimes we find ourselves faced with difficult choices. I see people stuck with their decisions that they've made and they feel like they have to live with it their entire life.

So I'd like to challenge you, choose not to become your wrong decisions.

What does it mean by "Becoming Your Wrong Decisions?"

I see people living their whole life, the decisions that they made for themselves were wrong. For example, they think that in order to get quality lifestyle, they need to go to college, spend four years to get a bachelor's degree and later find out that they didn't like the jobs they're in to. So you can choose to stay there and make everybody's life miserable around you by not enjoying your work or you're going to say I made a wrong decision and I will change my subject by going to College again and choose to have a career in different profession or may be practice that profession as a volunteer first to see if that's what you want.

So many people think that they need to have University education in order to get a good job but you know what this is back to networking what we talk about it in our program. If you like any profession that you want to practice then reach out to those professionals and find out from them what do they like about their profession and what do they absolutely hate?

One of the best things you can do in this case is to take advice from people you admire. But you don't have to completely follow their path but take the part of the advice that resonates with you.

So I give you a challenge this week, where are places in your life that you've made wrong decisions in your life that you're still living with it and how can you fix that?

To learn more about "Becoming Your Wrong Decision", Watch my Facebook Live Video here.

Remember, if you need my help to fix your mindset and building your Real Estate Portfolio, reach out to me at [email protected]

Edna