Seven Rules of Real Estate Investing

Rule FIVE: Do everything at first.

And stop as soon as you reasonably can.

You will do everything at first (all the jobs - even the ones you hate and the ones you’re not that good at). Read the book E-Myth Mastery by Michael Gerber. This is how you scale your systems and processes and products. If you make the entire thing dependent on you, you will not be able to grow your business.

This is not to suggest you become a bookkeeper, for example. Speak with your accountant and agree on a system for keeping good and effective records you turn over on a regular basis. They can point you to a bookkeeper who can get it all in the right format so you can get your tax returns done but don't you try to be a bookkeeper if you're not one. In fact, if you really want to be a real estate investor, don’t try to be a bookkeeper even if you ARE one. Get to the point where you focus on your thing.

If you can paint, you’ll be tempted to paint your own properties. The same is true if you with any skill you already have. It's fine to do all you can when you begin, but plan to hire this work out to real pros as soon as possible.

Why?

1. If you do everything, you're no "better" than your weakest skill.

2. Like everyone else you only have 24 hours in a day. There is a limit to your scalability if you go it alone.

3. No one is truly great at everything.

The ONE THING you should reserve for yourself is the decision about which property to buy. Your goal is to get to the point where someone else is doing everything else.