How to Manage Your Deal Business in Only 60 Minutes a Day

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The most difficult part of managing any business is how one manages their time.

People love structure.

If you’ve had a job for 20 years, and then you’re on your own you don’t have any structure. You miss it.

There’s nothing to keep you away from…

  • The distractions of the Facebooks, Twitters and anything else. The temptations are always there to check that text, or notification of someone replying to your political comment on Twitter…
  • Email Notifications. Nothing in the news affects your life. Nothing. Think about that for a moment. Besides, this is a slow business. Nothing trades overnight.
  • Television. I think TV is the most poisonous thing to humans. There is nothing good on it.In fact, before I was married, I never had a television in NYC. I was out. Networking. Meeting people.
  • Toxic Family Members.This whole family thing is asymmetric, right? I mean you don’t choose them, you don’t like most of them. They never support your dreams, but you’re supposed to deal with them on Thanksgiving? C’mon.

So I’ve laid out easy system for you to follow to manage your business in 60 minutes a day — your  “Hour Of Power”, if you will.

Hour of Power NEW 880x660

What’s more, I’m giving you it in a downloadable PDF for you to tape up on your wall. Use it as a goals checklist.

Enough wasting time, start making time work for you instead of you working for time.

Hour of Power Minutes 0 – 15

Check Emails

Only reply to those who have not sent enough info first. Not enough meat to chew on here, need x, y and z.

Make sure your assistant is capturing the emails of the folks looking to reach you.

Reply to them via email only during this time block.

Hour of Power Minutes 16 – 30

Follow Up With Your Deal Book

Pretend these folks owe you money, because they do. Look at this as being lost revenue to your business.

Email them back so you have a record of it.

These should be folks that you’ve gotten most of the information from you need, but are not getting things you need – such as a term sheet from a bank formalizing the terms of a DPO, or pricing expectations on a Bulk REO or NPL trade.

Reply succinctly.

“We’re putting our pens down for now”: Meaning until you get what you need, we’re not proceeding any further on this.

(NOTE: Want over 73 commercial real estate investing blueprints, templates, strategies, and cheat sheets? Get all that and more in The Commercial Investor’s exclusive Wall Street Bible… The Big of Blueprints, 2nd Edition. Learn more and join the elite now.)

Big Book of Blueprints

Hour of Power Minutes 31 – 45

Use Discretion!

Don’t be bullied or strong-armed into doing a call. Proceed only if…

  1. You have all of your 5 Data Points / Pricing Expectations – and never before you do.
  2. You are direct with the Sponsor, Borrower / Seller there is no one between you and them.

For example, you should never initiate a call with the Dandrew Deal Desk unless you clear it with them via email first. For commercial deals, your Sponsor, Borrower should have their expectations managed for pricing and terms.

New Deals

Use the rest of this time to review new deal flow from your website and reply via email. Email is quicker and easier to manage.

Phone conversations can last longer than you ever want them to as you will be questioned on every type of scenario imaginable, for example: “Do you fund movies, goldmines in China, etc.”

Hour of Power Minutes 46 – 60

Build Your Buyer’s List / Investor’s List

It’s very, very important for you to expand your network of institutional buyers and capital providers.

  • Call new buyers.
  • Build a list.
  • Keep track of it in your Deal Book.

If you do nothing else all day, do this.

Reference the How To Build A Qualified Buyers List post to ask the appropriate questions without sounding foolish.

Call back capital providers / institutional investors. Call buyers to set up trades with any deals in your Deal Book that may seem to be viable trades.

Additional Tips For Success

More Thinking. Less Feeling.

Be professionally mature. Get answers to questions. Ask the hard questions.

New Email Thread Means A New Subject Line

Don’t talk about new deals or scenarios on a subject line about something else. It is incredibly annoying to the people trying to work with you.

Use Subject Line Meaningfully and Thoughtfully

Avoid subjects like “NEW DEAL!!!” For example use: “235 Unit Class B MF – Dallas”.

Avoid Using ALL CAPS In Your Emails

Use spell check. Don’t give people an easy reason not to want to deal with you. Never try to look ignorant.

Don’t Irritate Or Be Needy To Potential Investors/Buyers

He who holds the gold makes the rules. Don’t argue if an investor or buyer doesn’t want to
do a deal. They will never work with you again. Guaranteed.

Do A Network Audit

Always audit – twice yearly – people in your network. Do they help you? Are they helping
you? How are you adding to your network?

And there you have it! Spending 60 minutes a day doing the right thing can transform your business if done correctly. Use this formula and let me know how it’s going in 30 days.

(NOTE: Want over 73 commercial real estate investing blueprints, templates, strategies, and cheat sheets? Get all that and more in The Commercial Investor’s exclusive Wall Street Bible… The Big of Blueprints, 2nd Edition. Learn more and join the elite now.)

Big Book of Blueprints

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Salvatore M. Buscemi
A former investment banker for Goldman Sachs in NYC, Sal is one of the nation’s leading authorities when it comes to investing in residential and commercial real estate. He’s raised over $50 Million in capital for his real estate hedge funds.

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Salvatore M. Buscemi

About Salvatore M. Buscemi

A former investment banker for Goldman Sachs in NYC, Sal is one of the nation’s leading authorities when it comes to investing in residential and commercial real estate. He’s raised over $50 Million in capital for his real estate hedge funds.
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