If you want to invest in real estate but don?t want to quit your day job you will have to become efficient in the art of time management. After all, it can be quite difficult to work 9-5 while also ensuring that your real estate properties are being taken care of. This does not mean that you shouldn?t try it, though. Many real estate investors continue to work their day job, and only quit when their properties begin to generate enough income.
The best way to manage both jobs is to set a schedule. In other words, you need to know what you are doing and when you are doing it. If you think that you are going to show up at your properties whenever time allows you are sadly mistaken. No, you don?t have to hover over your properties, but you definitely need to have a presence. This is particularly true if you are dealing with tenants. Not only do you want them to know you are around, but you will also have to spend time collecting rent, making and/or overseeing repairs, etc.
Finding help may be the best move you ever make. And remember, you don?t need to hire a professional management company. Instead, you can recruit a friend or family member to help with basics such as repairs, collecting rent, and other minor yet time consuming details.
Managing real estate while also holding down a day job can be tricky. If you are truly interested in investing in real estate and eventually turning this into your full-time job you will need to effectively manage your time.