When you create your own landlord systems for the various aspects of your business you end up reinforcing what works. And more importantly getting rid of what doesn’t.
These systems involve everything form how you screen tenants to how you maintain your properties and everything in between and by creating and following these systems you’re really laying down a successful process.
Granted we often just fly by the seat of our pants when starting out and while it works initially, the sooner we start creating these standards of how we do things, the faster and easier it makes everything come together.
The biggest challenge for new landlords or Real Estate investors is the amount of information they receive often feels like standing in front of a fire hose.
They may be busy researching, analyzing, talking to fellow investors and even learning by doing, but it’s often overwhelming.
Seasoned landlords typically have steps they’ve learned along the way that help them avoid many of the mistakes they made earlier in their careers or tactics they have learned to repeat due to their rampant success with them.
They stood in front of that fire hose and took the important lessons and simply used them to leverage moving forward.
The sooner you start taking those lessons you learn and creating even basic ways to replicate them, the sooner you’ll see the long term benefits.
You start learning by doing and eventually you move to repeating what works.
Start Creating Your Landlord Systems Today!
So next time you have to fill a vacancy maybe write down the steps you’re taking. Write down what worked, what didn’t and then use those nuggets of information next time to make the process easier, faster and ultimately less stressful.
Then simply start repeating this for other parts of your business. You don’t have to go to great detail, although the more steps you breakdown the easier it can be to hand the work to someone else later.
Bottomline, the sooner you start this the sooner you’ll reap the rewards!