Lesson 5: Your Time Is Precious

In the book “The One Thing,” Gary Keller, co-founder of Keller Williams talks about prioritizing goals and sticking to the critical path which best leads to fulfilling those goals.  As an investor, I recognize that my most important job is finding and buying good deals. When I first started my investment career, I would get calls from agents claiming they had a “great” deal and wanting to meet me at the property. I would jump in my car, view the property, and only then find out the price was way too high. These fire drills would burn several hours out of my day.  Now, before visiting a property, I make sure the numbers make sense.  This entails determining ARV (after repaired value), conducting a satellite and street view of the property, reviewing on-line permit history records, and posting the numbers on a spreadsheet.  Only then, if the deal pencils do we perform a site visit.  

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