When you first launch your real estate investing business, you are all things to all people. It’s true—if you’ve done it or are in the midst of doing in, you’ve probably seen the endless hats you wear. You’re the CEO, the COO, the CIO and the CMO. You’re also the social media manager and the administrative assistant and the scheduler and the marketing manager posting every Craigslist ad and dealing with every bandit sign.

It’s a necessary evil and, in some ways, it’s a huge positive in the short- and long-term. Think about it. This is THE opportunity to roll up your sleeves, dig in and really learn about the real estate investing business. The more your business grows and evolves, the less likely you’ll be to actually deal with many of these tasks in such a hands-on way. BUT, with this critical know-how under your belt, you’ll be able to better manage your future team and drive smarter, more strategic decisions. You’ll know how to post the ad, return the call and pull the comps. You’ll be able to train someone to handle your social media footprint and your direct mail campaigns. That’s powerful. That’s what will ensure your business is moving forward on your terms.

That said, most real estate investors DO reach a tipping point where keeping all of the balls in the air becomes A LOT to manage—too much, even. If you’re there, have been there or are approaching that wall, you know what I’m talking about. It’s not that you’re burned out or don’t want to put in the time—entirely the opposite. It’s that you see all of the high-value revenue-generating tasks and opportunities you CAN’T take on because you’re too busy stuffing envelopes, driving for dollars and answering calls. At this crucial tipping point, you have two choices: you can keep pushing ahead business as usual, or you can make a change. And, let’s face it, you should make a change.

That change should be integrating a VA into your real estate investing business.

The Power of a Real Estate VA

Bringing a real estate-trained VA on board is a simple, efficient solution to instantly free up YOUR time—time that, at the end of the day, is your most valuable commodity. As a real estate investor, you’re used to putting out every fire and managing every piece of the business. But, as your business grows, those non-revenue generating tasks start taking up more and more of YOUR time. And that’s the thing about time—you can’t get it back and you can’t make more of it. If you could, you’d be RICH.

The solution, then? Delegate some critical tasks to someone else. You’ll still maintain the tasks only you can and should handle—tasks that, specifically, grow your business and drive your bottom line. But your VA will handle the heavy lifting on countless tasks that are taking you away from these valuable must-dos. As a result, you’ll free yourself up to build your business.

Sounds pretty good, right?

Finding THE RIGHT VA

The key here is finding the right VA. Anyone can offer to roll up their sleeves and dive into your real estate investing business, but you don’t want just anyone. You want a focused, deliberate and determined VA who understands the ropes and is ready to make their mark.

While there are a number of websites and services that connect real estate-trained VAs and real estate agents and investors, it’s important to first take a step back and answer a few key questions:

#1. What will your VA do all day?
Some VAs are task-based meaning they work with a real estate investor on a task-by-task basis. If you need social media ads developed, your website updated or a series of leads followed up with, they’ll hop in—then hop off and onto another task for another client. The alternative? Hire a dedicated VA who’s trained in YOUR business and the way YOU do things. Often these hires are full-time, but you may be able to find someone to join you part-time or, even, for a few set hours per week.

The benefit to a dedicated VA is, of course, that you “own” their time and can work with them on tasks as they arise. Beyond that, they’ll quickly begin to understand the ins and outs of your business and can start to act as an extension of you following up with leads, booking appointments, pulling comps and managing marketing tasks. Once you’ve built a VA relationship to that point, you’ll be able to pull yourself OUT of the administrative baggage holding you—and your business—back.

And if you’re still not 100% clear on what you need your VA to do? Think about the tasks you do in a given day, week or month—and know a VA can help with:

• Administrative tasks like filing, answering phones, scheduling meetings and appointments, confirming listings and responding to emails
• Data entry
• Listing updates on MLS, Zillow, Trulia and other key sites
• Running credit reports and pulling key business updates
• Researching listings and pulling comps
• Researching buyer and seller leads
• Getting feedback from buyer’s agents
• Managing your social media accounts
• Running PPC ad campaigns on Facebook, Google AdWords and other sites
• Managing your online reviews and local directory lessons
• Updating your website and handling basic graphic design projects
• Blogging and link building to drive organic traffic

That’s just the tip of the iceberg. Take a few minutes to jot down everything you do and see if there are areas you could tap a VA to help with. Some specialized VAs may even be able to help with tasks like cold calling, nurturing cold leads and handling inbound lead gen. If you’re interested in these services, you’ll likely pay a bit more for top talent—but, done right, the ROI could be massive.

#2. Are you open to an international hire?
This is, often, dictated by a real estate investor’s budget. If you’re limited budget-wise but know you need a full-time dedicated VA, for example, it might be worth exploring a VA out of the U.S. Many real estate investors work with VAs in the Philippines, Eastern Europe, India, Pakistan and more. In these markets, there are plenty of qualified VAs who work with U.S.-based real estate companies 24/7. They understand the business, the market and how to effectively and efficiently communicate with you, your clients and your incoming leads—and, typically, are a fraction of the cost of U.S.-based talent.

However, if it’s essential your VA be U.S.-based or, even, local, you’ll likely pay a premium. Many sites and hiring platforms, though, specialize in U.S. talent, so connecting with these VAs won’t be difficult. The benefit? You can easily find someone in your time zone, which makes calls, meetings and other collaborative projects easier. While some overseas VAs are willing to work on U.S. time, their hours may not mimic yours exactly.

#3. How much training are you willing to do?
Many VAs are real estate-trained, but that doesn’t mean they’re trained to do things YOUR way. While you’ll always have to commit to some VA training early on, ask yourself how MUCH you can and want to give. Are you open to a high-potential VA candidate who’s handled many of these tasks before but hasn’t, specifically, been a real estate VA before? Do you need someone with hands-on real estate experience—someone with a business degree, or someone who has worked in real estate prior? These are important questions which will steer your search, your vetting process and, ultimately, your hires.

Budgeting for a Real Estate VA

Based on your task list and desired VA location, expect to pay about $5 to $15 per hour overseas and $15 to $50 in the U.S. If you’re looking for more specialized skills such as cold calling, lead gen or marketing management, expect to pay on the higher side of those ranges.

While this may seem steep especially in your business’ early days, remember that YOUR TIME IS INVALUABLE. If your VA can free up 40 hours in your week, you’ll have 40 more hours to go out, build your business and drive more revenue. Isn’t that worth a few dollars an hour? Really, isn’t that worth a lot more than a few dollars an hour?

Exactly.

So start building your task list and understanding how a VA will fit into the equation—and, from there, the specific parameters and budgetary needs that come with. Done right, a real estate VA can help catapult your business to the next level and beyond, by giving you back something no one else can: TIME.