REI Outsourcing: How I Cracked The Code

12-12 outsource For most investors, once you've got those first few deals under your belt – you've got a business model that works for you, money starts rolling in and the lather-rinse-repeat process is well under way, the next logical step is often to begin learning how to really systematize things.

It’s the whole E-Myth idea of learning how to work more “on” your business rather than “in” it day-to-day. And at some point, this will inevitably lead you to if/when you should start outsourcing key parts of your real estate investing business – maybe many, or even most of them.

Now Let’s Be Clear About Something

Some people never crack this code.

In fact I’d say most mom and pop investors typically remain “solopreneurs” for the long haul – perhaps limiting their upward growth, and working longer and harder than others, but successfully wearing all the hats in their business nonetheless.

While others embrace the fantastical dream of crafting a well-systematized, effectively outsourced REI business – of building an REI cash machine, while still enjoying something resembling a “4 Hour Work Week”.

And those people are then split into two more categories:

Those who try, but can’t get past the challenges of actually making that a reality.
Those who try, fail forward, and eventually crack the code.

Meet Joe, the Code Cracker

joe mccall In recent years we've seen a number of successful investors come to the surface who seem to have really nailed it on how to effectively outsource most all of the various components of their real estate investing businesses – and they've actually created their own version of a “4 Hour Work Week” type reality.

Joe McCall is one such code-cracker. And truth be told, he’s one of the best out there.

Joe’s first steps into outsourcing came out of necessity: In order to keep his J.O.B. he had to have a Virtual Assistant start making offers for him. Three years later, when his real estate investing income surpassed his day job, he quit and went “full time” REI and has never looked back.

Joe took those early lessons in “forced outsourcing” to heart though, and really made it his mission to figure out how to remove himself from the equation as often as possible through effective outsourcing. He’s become a machine at it.

Joe epitomizes the saying "The less I work, the more I make" lifestyle. He outsources 90% of his entire real estate business, and recently even went to Prague for 2 months with his family, while continue to flip deals part time the whole time through his VAs.

Eavesdrop in on Our Unscripted Chat with Joe…

Recently we engaged Joe in an in-depth conversation about all this. And let me say, the guy really laid it all out there – exactly how he outsources his business, which parts he farms out and how, which he doesn't, mistakes he’s made in the process, what he’s do differently, and a number of keys to what it takes to really make this happen.

To make it easier to consume, we've broken our revealing “Outsourcing REI” conversation with Joe into a short series of lessons, and below is the first.

In this powerful lesson Joe walks us gingerly through:

Tackling problem #1: How heo outsourced the components of his REI business
How and why Joe’s first steps into outsourcing were born out of necessity
How he outsources 90% of his entire real estate business, averages 2-4 flips/month, and only spends 5-10 hrs week of his personal time doing it
Joe’s 3 keys to success in this business: M_______, A_________, and D________
How he crafted a marketing machine, documented and systematized it, then handed it off to an assistant
How to setup systems to ensure the marketing is done consistently, but by someone else
Exactly what his Virtual Assistant’s do for him each day
How he handled his second problem: How to handle all the calls his VA was bringing in
How and when Realtors fit into the equation
The principle of doing it awesomely yourself vs. a VA doing it only 80% as good

From Joe McCall, Business Development Advisor…

{Mogul Elite: Download an MP3 and full transcript of this video in the Power Pack tools for this lesson.}

Decide what you want: Do you want to outsource some/most of your business, or continue as a solopreneur?
Then decide philosophically: Is overseas (Philippines, India, etc) a good fit for me, or do I need/want someone in the states (there are ups and downs to either approach, and no one-size fits all)
Make a list: Of things you are doing all the time, that someone else can be trained to do. Don't beleive the lie that "only I can do this". In most cases, tihs is fear talking. Be honest and know that a job done 80% as good as you would do it, is good enough in most cases.
Make another list: Of things you don't like to do and/or don't do well.
Ask yourself: "If I had absolutely no choice but to outsource these things to someone else, how would I make it happen?"
Give it a try: Consider hiring someone part time to handle the first few things on your list. Test the waters.
Fail forward: Make mistakes, correct course and keep working it out.