EPISODE 011: Using A Skills & Time Assessment To Choose a Property & Plan Your Project
Categories: Strategy & Tips
Description & Show Notes: In this episode, we go through a Skills & Time Assessment to help us narrow down the right property for us to buy at this point in our Investing Career. It doesn't mean our capabilities are the same as they were a few years ago, and it doesn't mean that we won't be able to handle more extensive rehab work or bigger properties in the future, either. It simply means we need to take an honest look at what we can handle NOW, and still meet our goal of getting each property we buy ready for a tenant within 30 days of our closing. And I don't think "how much can I afford?" is the #1 constraint that so many beginners think it is.
I'll help you separate each item on your TO DO List into one of three categories:
Things I can do myself or with unskilled help
Things I can hire out
Things I can't do or delegate effectively right now.
We also look at how we can plan our work and the work of our contractors and helpers to meet that 30 day schedule. How many things can we do before we even close? You want to think about this as a valuable way to compress your rehab timeline and hit the 30 day goal. YOU are the driver here, so the success of a project is ultimately our responsibility. It's important to stay positive and proactive, and not become frustrated and disinterested. Every project has hiccups along the way.