Getting your first self-storage facility under contract is a major accomplishment. But it can also be a lot of work, especially if you’re trying to do it all yourself. In this episode, Stacy Rossetti shows how you can transform your real estate ventures with the strategic use of virtual assistants (VA). She explores the power of virtual assistants in commercial real estate investment, specifically focusing on finding and evaluating high-value storage facility deals. Stacy shares her strategies for building a team of virtual assistants to handle the most crucial stages of the investment process. She even breaks down everything you need to know about hiring a VA to help you get your first self-storage facility under contract. Join us in this podcast to discover how VAs can jumpstart your self-storage success!
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Investing Smarter, Not Harder: Getting Your First Facility Under Contract With Virtual Assistants
There are four stages in investing in self-storage. Stage 1) Your goal is to get it under contract, “What are all the things that I have to do in order to get a storage facility under contract?” We’re going to talk about that in this episode. Stage 2) Onboarding and funding. It’s a brand-new term. Back in the day, nobody was saying, “I’m going to onboard this or that.” Now, every company is getting on board at all the time. Onboarding is that in-between stage between getting a facility under contract and closing on the deal. Stage 3) Closing and owning. Stage 4) Automation. These are the four stages.
Getting Your First Facility Under Contract Without Doing Any Work
I go over all these extensively inside the course. We talk a lot about this in StorageNerds. We have some videos everywhere on YouTube and stuff about it. You can always check that out. We’re going to talk about stage one. I’m going to talk about how I get this done, but I don’t do any of the work. How’s that possible? How could you get something under contract but not do any of the work?
This is something that I learned many years ago. I have been investing in real estate since 2011. Back in the day, when I first started investing in real estate, I thought I had to do all the work. I was going out looking at properties. I was about to look at thousands of properties, and then it clicked. How can I get this done without doing any of the work?
I would guess a lot of you are under this stage. Is there anybody here that has a facility under contract or owns a facility? If you don’t, then everybody’s in stage one. I’ve been through this cycle sixteen times. The first time that you do stage one, it takes forever because your hardest purchase is always your first one. Every time you say, “I’m going to go and buy a property,” it gets easier. The first time is always the hardest. The truth is, if you don’t follow through, keep pushing, keep looking, or make offers, then essentially, most people give up in stage one and they never get a facility under contract. I want to get you to the point where you do get a facility under contract, the success.
Let’s get you to be successful. In stage one, the goal is to get a facility under contract. You do this in steps. The first step is you have to find a storage facility to buy. The thing is, “Where do I find these facilities to buy?” Let’s talk about that. There are two different ways. In the coaching program and the course, we go over fifteen different ways to find storage facilities. I’m going to go over the two major ones. You can either find a facility by going directly to the owner. That’s what I teach.
In fact, I was on a coaching call with one of my students. He joined Turkey Acquisition StorageNerds. The thing is he is open to whatever comes into his life, this type of person. He doesn’t have limited beliefs. He doesn’t have limits on what he can do, buy, or what he’s interested in. He is like, “I want to buy a storage facility. Let’s get out there and start looking for a facility. I don’t know what is going to come across my plate.” The truth is the more limits that you put on what’s going to come across your plate, the smaller your buy box is. I talk about this all the time. Your buy box has to be big.
It's good when a person doesn't have a lot of limited beliefs, but he doesn't have limits on what he can do, what he can buy, or what he's interested in. Share on XHe came into the coaching program. He had a big buy box. We sent him a facility. We went over it together, took a look at it, and he got it under contract. Within one month of joining StorageNerds, he had a facility under contract. The great thing about it is that he picked it up for $2.3 million, which is a lot of money for a lot of people. The thing is he picked it up for $2.3 million. Imagine this. The appraisal is $3.8 million. The good thing is I talked to him and the bank is giving him an SBA Loan. Because his credit is good and because of how much money he has with his bank, he got prime. He’s at 7.5% to 8% interest, which is what you would get for a conventional loan, but he got it for an SBA Loan.
The good thing is, for SBA Loan, you only have to put 10% down. He’s buying a $2.3 million facility. He had to move $250,000. The value of that property is already at $3.8 million as is. He got a smoking hot deal. It’s a mismanaged facility that’s 50% full. He’s going to be able to double the value of that property pretty quickly and only have to put $250,000 down. What I’m saying is that those deals are out there. How do you find these deals? It could be a $200,000 or $2 million deal. The concept is the exact same thing. The way that he found them is exactly what I said. He went directly to the owner. I was talking to him. He’s bought a lot of properties. It’s like $100,000 with the properties.
He is like, “I bought $100 million worth of property in the last 30 years. I’ve never ever bought a property where I went directly to the owner. I always have had a broker find me properties that I can buy. I’m going to tell you that being able to call the owner up and talk to the owner, I’ve never had that before. I’ve never been able to call and talk to the owner, and it’s amazing. We could step down quickly and we’re working together. It’s amazing. Typically, I would tell the realtor, the realtor would go tell them and come back 2 or 3 days later in order to get an answer on something.”
I’m not saying there’s anything wrong with brokers or anything, but that is the process. You have this middle person that’s controlling the whole situation. I’ve hardly ever bought anything, especially on the storage side, one property through a realtor and that’s it. It was my very first property. Other than that, I go directly to the owner. It makes things so much easier. It does and makes things easy. We go directly to the owners. You have to talk to the owners. Finding owners is step one. Can you look online?
You could say Crexi, MLS, LoopNet, or a broker, which is going through a broker. These are the two ways that you’re going to find a property, and all the different ways that you do that fall under each of these two categories. You can go online and look at all these different properties on all these different websites. You can call the owner and talk to the broker, get the information so you can run the deal analysis or you can call the owner directly.
We’re going to say they’re going to call the owner directly. How do you find these owners? That’s the question. There are only a few ways to find owners. What you have to do is you have to figure out all these different ways. In the course, we go over all of them. Essentially, the job is that you have to build a list. You have to do Google Earth, Google Maps, driving for storage, and all the different ways that we talk about finding owners. That’s what you have to do. You have to build a list of owners of storage. How do you do that? There are a lot of different ways. I’ve taught this many times. This is the main step. Finding the owners, building the list, and creating a list of owners that you can contact directly to see if they want an offer. Step three is, “Does the owner want an offer?”
Notice that I said, “Does the owner want an offer?” Chandra says, “Do you want to sell?” Nobody wants to sell their property, but owners definitely want offers. They don’t know if they want to sell until they see the number that you give them. When you talk to an owner, you want to lead with, “Would you be interested in getting an offer on the property?” That is what it is. Step 1) Find the owner, 2) Building a list of owners, and 3) Calling the owners to see if they want to get an offer on their property. Over the course, there are scripts on what to say to the owner. There’s a call sheet and all kinds of stuff that you need. “Does the owner want an offer?”
You call the owner and say, “I’m calling around all the owners in the area and seeing if you’re interested in getting an offer on your property.” They say, “I’d be interested in your offer.” It’s like, “These are the things that I need in order to run deal analysis.” When you’re calling an owner, you can’t be like, “Send me over all your P&Ls and your financials.” They’re not going to send all their financials to some stranger on the phone. If you’re the person that’s like, “I want financials, P&L, balance sheet, rent rolls, and tax returns. I want it all so I could look at it,” then you need to be looking at facilities on Crexi, MLS, and LoopNet or going through a broker.
Their job is to put the package together for you. What is cold calling? We’re calling random owners and seeing if they want to get an offer. It is something that can be like, “Let me send all that stuff over.” No, we’re not going to do that. Instead, you’re like, “These are the things that I need in order to run deal analysis. I want to do is give you an offer. The truth is I need to see your financials and see it all, but I can give you an offer. Based on the numbers that you tell me, this is the offer that I’m going to get. When I look at all the numbers and everything and do due diligence, the offer could change. For now, let me make an offer to you.”
Remember, we don’t make one offer. We make five different offers, a cash offer, some creative deal structures, and a bank financing offer. Maybe we have a private lender or whatever it is. We don’t make one offer. We make five different offers. That’s what the Deal Analyzer does. What you need is a few items in order to run a deal analysis. You need to be able to get the information from the owner to run a deal analysis. You need to have your vacancy, the square footage, the purchase price, the market cap rate, the competition analysis or competitive analysis, and the unit mix.
The competitive analysis is going to get you the opportunity. You don’t get this from the owner. You can ask the owner, “What is your vacancy? What is your total square foot? What’s your purchase price? What’s your unit mix?” You can always ask them for expenses. We run our numbers at a certain percentage for expenses. Based on the size of the facility, it’s either 30% to 35% or something like that.
I’m going to tell you most owners are not going to sit there and give you all their expenses. You should know that you’re running your numbers based on the size of the facility at 30% of your expense. Your income is your expenses. We want to make a quick offer. The truth is you only need this much right here. You need a vacancy. Also, the total number of units.
This right here is what you need. If I can get this stuff right here, vacancy square foot and total units, I should be able to give a quick, the income. This is it right here is what you need. This is how you’re doing your deal analysis. This is a deep deal analysis. Your vacancy, income, square footage, and total number of units, you can get from the owner. You come up with the purchase price yourself, or they could give you the purchase price. You figure out what your cap rate is based on where the location is and the population. You can get the unit mix and prices from the owner. You could get the expenses. This is the bulk of what you need. If you get the Deal Analyzer, you feel all this stuff in or you find your own Deal Analyzer and run the numbers. Overall, this is a good list of what you need to run the analysis.
You get the deal analysis and you run it, and then you make an offer. That’s it. You send out an offer. We do 4 or 5 offers. We do 1 cash, 1 bank, and 3 creative deals purchase. This right here is called the magic letter. This is inside the Deal Analyzer. You want to make sure you’re making a whole bunch of different offers. You run different scenarios based on how much money you or the owner wants to make. I go into depth about that in the deal analysis course. What you do is you make the offer. After you make the offer, you wait. You say, “I got all your information. Thank you so much. I’m going to make your offer within the next day or two.” You send over the offer to the owner. The owner looks at it and says, “I want this price, but I am open to creative deal structures.” You’re negotiating with the owner.
It’s like, “What if I do this and try this?” We typically hop on Zoom or we go out there and meet the owners and discuss it. A lot of times, we meet on Zoom and discuss it. There is a lot of discussion going back, “What do you feel comfortable with? How much money do you want to make? Does the number work or not?” A lot of times, if you’re offering some creative deal structures, the owner is open to coming up with some ideas.
We have one in Oklahoma where the owner wants $650,000. The student took the information to her local bank. Her local bank said that they would lend $550,000. We went back to the owner and told him. He said, “I want $650,000.” That $100,000, I’ll seller finance. I’ll do a second on the back end. We negotiated no payments for six months. We said, “If we can get $100,000 with no payments for 6 months and amortize it over 20 years, then we can be able to forward it.” He’s like, “That’s fine. We can do a five-year loan.”
She went back to the bank to make sure that she could have a second on the back end and her bank said, “That’s fine.” She’s going to pick up a facility that is worth $1 million, but now it’s only worth $550,000 to a bank. She’s going to be able to close on it and the owner is going to do a second on the back end to close on it. That is part of the creative deal structures that we do. In the offer letter, you can’t explain that. What the offer letter does is it opens up the mind to, “I am open to a creative deal structure. That’s where the negotiation comes in.”
That’s where you talk to the owners back and forth. Come up with like deals and say, “What if we do this?” A lot of times, you either want to make sure your cashflow is working, or maybe the owner wants a specific monthly payment. We have one where the owner is like, “I want $4,000 a month. Do whatever you need to do in order to get me $4,000 a month.” That’s how it works. That comes with the creative deal structures. That is explained thoroughly in the course and the Deal Analyzer as well. In StorageNerds as a student, we have a funding boot camp. What I talk about is creative deal structures because that’s my favorite thing.
“How can I buy a storage facility with no money in the deal?” That’s my favorite thing. You go back and forth. You negotiate with the owner and then finally get it under contract. The seven-step process that we went through, finding the owners, building the list, calling the owners, doing the deal analysis, running the deal analysis, then putting the offer in, negotiating with the owner, and getting it under contract is stage one. This is what you’re going to be doing over and again in order to find a facility that you can buy.
This is just a numbers game. The more facilities that you have on your list, the more times you call the owner, run deal analysis, and put offers in, the more chances you are going to be able to find a facility to get it under contract. This is stage one. This is the hardest part of the entire process. This is a grind. We talk about real estate and we are like, “I’m tired of grinding. I don’t want to grind anymore. I’m done grinding.”
Delegate To Elevate
I hired virtual assistants to do all this. That is the secret sauce. The secret to success is delegating because the truth of the matter is that you cannot do all this. Obviously, you can do all of this, but the market requires putting in a lot of offers. Our goal is always one offer per week. If you have to put in one offer a week, think about how many calls you have to make on a weekly basis. It’s typically for every 50 owners that you talk to, 1 is going to want an offer.
The truth of the matter is that you cannot do all this now. Obviously, you can do all of this, but today's market requires putting in a lot of offers. And our goal is always one offer per week. Share on XIt’s not how many calls you make. It’s how many owners that you talk to. It’s a 50 to 1 ratio because you’re cold-calling. It takes a little bit more effort and work on the front end. The truth is that when you go directly to the owners, you have much more leverage. What happens is that when you’re doing Crexi, LoopNet, and MLS, the broker already got a hold of them. I saw that in one of my students. We picked up a 630-unit facility for $3 million. We ran the numbers that were worth $6 million. I was like, “You’ve got to buy in this facility.”
We took it from $300,000 to $450,000 a year annually. After one year and a half, she’s like, “I think I could probably sell this thing. Let’s sell it.” She went to Marcus & Millichap. They said, “We can sell this thing for $7.2 million.” I was like, “It’s crazy.” They are like, “That’s how the market is. It’s crazy.” The market was still a little bit crazy. They ran out and started pitching their deal and pushing it and stuff. In the end, they had 3 offers at $6 million. I was like, “You have to take this deal. You’re going to make $3 million in a year and a half.”
She didn’t take the deal because she had $7.2 million stuck in her mind that’s what she was going to make on the deal. That’s the same thing that brokers do for all the properties on Crexi, MLS, and LoopNet. The broker always thinks that they can get way more money than what everybody says. There’s nothing wrong with commercial real estate. They got to pay their due and for them. It’s like a whole thing.
The broker always thinks that they can get way more money than what everybody says. Share on XThink about it. If you directly to the owner, what would the owner sell it for? My student who picked up this $2.3 million deal knows the property is valued at $3.8 million because he has the appraisal that shows that. He still sold it for $2.3 million to us because 1) He liked us, and 2) He wanted to sell it to a local person, first of all. He said he talked to a lot of brokers, but he wanted to sell it to somebody local and they are in the same city. They live in Dallas. He wanted to work with us. That’s what happens when you go to owners. You get rocking good deals, whereas on the Crexi or LoopNet, it’s harder.
Now, we’re going to talk about virtual assistants. What I want to talk about is hiring a VA to help you do this. When you are out there looking for deals, you’re in your mind. You’re the person that’s like, “I’m going to do this. I want to buy a storage facility. I have this calling. Storage is calling me.” You get out there and start looking. You finally find something and then you’re like, “Now I got to go through and like get all the information and run the deal analysis.” It’s taking forever to get anything done.
You realize that you are probably not the fastest person to do all of stage one or get it all done or you’re putting in an offer and it’s not working out right. Maybe putting offers in on Craigslist or something is not working out. It is time for you to consider delegating some of these tasks. A lot of people with delegating have a very difficult time doing this. My husband is one of these people. He was horrible at delegating because he always thinks you can do it better.
A lot of people have a very difficult time delegating. Share on XThe truth of the matter is that he can do it better because he knows what he’s doing. In order to be able to do all the things that he needs to do, we need to do, or whatever it is that we have planned, we need to be able to get somebody to help us do it. We can’t do it all. Over the course of the last couple of years, we’ve had a lot of people on our management side. I can tell that hiring these people instead of him doing it all made him feel better about everything. You’re not stressed out about it.
It gives some peace of mind. It takes the relief of so much stress off your shoulders. Hiring people to help you is not that expensive. If people don’t know what Turnkey Acquisitions is, it’s a program within StorageNerds where my virtual assistants do all of stage one and they do lead generation. They find you a deal that you can purchase. We’re sending you the leads of the owners. We’re getting you all the way through getting it under contract.
I have fifteen virtual assistants that do this. I’ve had virtual assistants my whole life, but I’m talking about doing stage one. When I went on to Upwork, I was going to hire a virtual assistant. The very first thing that I did was go on to Upwork and place an ad there. It’s completely free to put an ad on Upwork. Upwork is a freelance website where freelancers comment on any type of task and deal.
All my virtual assistants we’ve hired through Upwork. I hired an editor to help me edit my book. I’ve hired CFOs. My CPA, Adam, who’s an amazing person and part of our team, all came from Upwork. That is where you’re going to go and you’re going to post for free your task. You’re going to start with just a task. Now you know the list of what the steps are. Your task for your virtual assistant is going to be building a list of owners and finding owners that you can call.
I would put an ad on Upwork and say, “This is my philosophy. This is my thought process. I want to buy commercial real estate. I need somebody to help me build a list of properties. You’re going to have to do this manually. I’m going to teach you how to build this list of owners so that I can call them and talk to them or they can call and talk to you.” They can do that as well too. The first step is going to be building the list of owners.
You could do that in a whole bunch of different ways, whichever way works for you. You’d say, “Help me build a list of owners.” You get a plethora of people that are interested all over the country. You have to be like a ridiculous amount of interviews. You’ll have interviews and a budget. You could say, “I only can afford $5, $6, or $7 an hour.”
Typically, it’s anywhere from $5 to $7 an hour across the globe. Maybe you can only afford $20 a week at $5 an hour. That’s $100. You can only afford so much money. You say, “This is all the money. This is all I can afford. That means that you can work maybe one day or two days a week for me. Your job is going to be building a list of owners.” You’re going to show them how to go on Google Maps and find facilities, how to go on Google Earth, how to go onto Facebook Marketplace, or whatever it is that you want to do. It’s very task-oriented.
It could be anywhere from $5 to $7. This is your budget. It’s very simple to manage these people. Make sure they can get on either Zoom, Skype, or whatever you’re using to meet. You’ll meet with them and you’ll go over what you need, and then you’ll have them build this list. It could take 1, 2, or 3 weeks, depending on the size of the area. It’s a test to see if this person is fitting in with what your expectations are.
For instance, I hired Karen, who’s my very first virtual assistant in Turnkey Acquisitions. I gave her the job of making this spreadsheet with owners and whatever it is that we had her do. She worked on this spreadsheet. She sent me the spreadsheet the next week and it was the most beautiful spreadsheet in the world. I was like, “It’s an amazing spreadsheet. It’s organized. Let’s give her some more tasks and see if she can do this.” I started giving her a couple more little tasks testing her and she did super awesome with these tasks that I was giving her.
I had to do with all the stage one. Whatever came up, I was like, “I got no time for that. Let me delegate that to her.” Over the course of 1 or 2 months, I got to feel how she worked, what her expectations were, what mine were, and did she live up to them from what she opened to working with me. After a couple of months of doing some tasks, I said, “Would you be interested in calling owners?” She had a customer support background. She’s from the Philippines. They do a lot of phone stuff. They do a lot of customer support. She was totally okay with calling owners. Her English was not perfect, but it was okay. The thing is she’s been working with me for a few years. Her English is super good now.
She speaks English very well. You have to be patient with virtual assistants. The truth is and I tell this to all my students, “Your team is only as good as the amount of time and leadership that you spend with them because if you never meet them and expect them to do stuff it’s not going to be as good.” I meet with all my virtual assistants every week. I work with them and make sure that they’re always growing and changing. We’re updating stuff. We’re getting better on the phones.
Step-By-Step VA Integration
I hired the virtual assistant to build the list, and then after she built the list for a few months, I started doing cold calling. Stage 1) I had her build the list. Stage 2) Cold calling. We started working on her calling owners from the list that she has if the owners wanted to get an offer. That was it. I call them up. You can look on the website and see if there’s an email. You can email them. I set her up with JustCall. There are all kinds of them.
JustCall is a phone system where you can call them out. The reason why JustCall is because it records the calls so I can listen to them. You’re not supposed to do that. I did it anyway. That way I could listen to know if she was okay on the phone. Now you have access to JustCall. There’s Real, RingCentral, and there’s all kinds of stuff that you could use. She started calling the owners. This is when she started getting some traction. She started finding owners who wanted offers.
Call them up and say, “I work with Stacy. We own X amount of storage facilities. We’re trying to find some more storage facilities. My question to you is would you be getting an offer from us? Stacy is looking to buy more facilities in your area.” What she would do is call owners and stuff. She started finding leads. Together, we would run the deal analysis and work on how to do the Deal Analyzer and put all the information into the Deal Analyzer. It took her a couple of months to get the hang of it because it’s hard to learn, but she started getting very good at filling out the Deal Analyzer.
The Deal Analyzer is not that difficult, but for her to know if it’s a good deal was hard. Somebody asked about scripts. I have done several videos in the course or coaching programs on scripts. That’s where I have all my scripts. All the scripts that Karen and all my virtual assistants use are all in there. You come up with scripts because the truth is it’s the same thing over and over. Our virtual assistants day is building a list of anywhere from 20 to 30 facilities a day and adding to the list. On top of that, calling those owners.
I don’t have them anymore just calling all day long because they were good sick and tired of it. Their day is super mixed. It’s getting up, and you’re trying to find some owners and doing virtual driving for storage and trying to find owners. I only have them doing virtual driving for storage. I don’t have them doing any other way to find property virtually on Google Maps or Google Earth.
It’s super time-consuming to do this. Who wants to do that all day? Nobody. A couple of hours of doing that until I have 20 or 30 facilities, and then they call and talk to the owners. They try to talk to the owners. What they do is they send me an End-Of-Shift report, which we call the EOS. It is going to be hot, warm, and cold leads. It’s like, “I can tell that she has zero hot leads today. She had 1 of warm lead and 30 of cold leads.”
We have ways to add all of these facilities that she’s buying over to the list. We’ve called every storage facility in the country. We have a software. We put everything into the software but, in the beginning, you have just a spreadsheet. You put everything on the spreadsheet. You use One Drive or Google Drive and you share everything that way. She was amazing in the spreadsheet. She took good care of the spreadsheet. You’re going to have the name of the facility and you’re going to have the address.
If you get into the course, you get the spreadsheet. It’s in there. You get a real spreadsheet with the address and then you’re going to have a website, phone number, and email. We always put the star rating and reviews. The Google Business listing is filled out and then you keep adding. Our spreadsheet is massively huge. As I go through, I’m like, “I want this.” We have all these columns of all these different things. You can sort out different ways because we like to look at facilities based on Google Reviews or stars. If they have a lot of bad reviews, then we think that’s like somebody that we can call or at least consider one of these leads that we have.
She would manage this. You put all her names on her list. What we did, just so everybody knows, is we do it by state. We also did it by population. It’s all about primary, secondary, and tertiary markets. We know that if it was $100,000 or less, it was a secondary market. If $25,000 or less, that was a tertiary market. Sometimes, you would see different cities and then you would say, “In Waycross, Georgia, there are 15 storage facilities, but the same size town over here has only 6 storage facilities.”
You can see when you start looking at things like that is the opportunity, “Why does this one only have 6 and this one 15? It’s the same size population.” She started doing that for me. She started helping me to look at the market and where we could be focusing our energy and stuff. The virtual assistants do this. They keep track of all this for us, and then they give us this end-of-shift report every day, not only to me but also to my students in Turnkey and then we can keep track of that.
Obviously, you know that now they go through all of this. They do all seven stages, but to get them to be able to do all seven stages took a year. They’re not going to know how to do a contract and write a deal analysis. With virtual assistants, you have to know that it’s micro steps. You hire your first step to hiring a virtual assistant is to go on to Upwork, post a job, and say, “I’m looking for somebody that can help me build a list of owners,” then pick somebody and test them out.
If you don’t like them in the next week or two, then pick somebody else. Get two people if you can afford $5 each or something, and then you could test them both out and see what you like the best. Maybe one of them is good at building the list and the other one is good at cold calling or whatever. You can test them out, but you only need one and then you do micro steps to build them up. It is me delegating this out and having somebody do all of this. Steps 4 and 5 are feeling out the Deal Analyzer and training the virtual assistant to put the numbers that you get from the owner into the Deal Analyzer.
Another thing that they do is put everything into a Google Drive folder. I’ve taught this many times in my coaching class. There’s a Google Drive folder with all the docs in it. I have access to the Google Drive folder, Deal Analyzer, and executive summary. We always do an executive summary for every facility. Everything that I need in order to make a decision on whether or not the deal is good is going to be in the Google Drive folder. If everything that I need is in the Google Drive Folder, that means that everything that the lender and the buyer need is in the Google Drive folder.
That is why we have a Google Drive. You can use one drive or whatever you want to use. We use Google Drive. You want to have them build out this Google Drive folder, have them create the spreadsheet, and tell you their end-of-shift report so you know how many leads and what they’re doing. This is kept on a spreadsheet as well. We have a lot of spreadsheets that we look at. I want to see end-of-shift numbers and a list of all the owners. I want to have the Google Drive folder.
JustCall and all these different types of phone services, you can see how many calls they’re making. They are calling 100 or 50 owners a week or whatever it is. You can see that as well too. You’re always looking at their numbers so that you can improve on the analytics. You show them. It’s like, “I see here in JustCall, you did 200 calls this week. Last week, you did 100 calls. What’s the difference between last week and this week? What did you do differently?”
“I was working on two deals and I got some information. I got Google Drive folders I’m working on,” that kind of stuff. You’re starting out with step 1 and you’re moving to step 2. You’re doing your micro steps. You got two options now for stage one. You know the steps and you can do it yourself. DIY it or you can hire a virtual assistant to delegate this day job and you will be the one who makes the final decision on whether or not you want to move forward on this deal.
The Path To Real Estate Success
Do you know what that does? That frees up your time to look for money because your job as a commercial real estate investor is to be a fundraiser because if you don’t have money, then you can’t buy your deals. My job and all of the companies that we have, my job is fundraiser. I delegated finding deals off and then my husband is the running part. Find, fund, and run them. This is my fifteen virtual assistants. I’m the funding and my husband is the running part. That’s how we do many of this. This right here is the reason why we are successful.
We hire people to help us. We do not do it all ourselves. I know it’s scary to delegate and relinquish control of being the person who can do it, but the truth is that you will be more successful if you can hire other people to do portions of what needs to get done. That is my final thought for this episode. I appreciate you. Make sure you go to my website at StacyRossetti.com. I will see you next episode. Take care.
