I need suggestions on hiring assisitant! - Posted by chris

import · February 16, 2006, 8:45am

Posted by Patrick S. Lawson on February 16, 2006 at 10:42:20:

Run an ad in the paper for $7.00-8.00/hr you will recieve atleast 20 applications.

import · February 16, 2006, 8:45am

Posted by chris on February 16, 2006 at 09:45:53:

I have been investing over the past five years and am at the point where I need to hire someone to help. My business includes having several rentals and rehabbing and reselling about 10-12 houses per year. I have been doing everything myself (except the rehab work); answering calls from ads, showing houses to prospective buyers/renters, paying bills, etc. It is simply too much to handle by myself. I need to hire someone to answer phones, take applications, general office help. Anyone here have experience hiring someone for this type of position? If so, how much have they been paid? I’m looking for someone who can make my life easier. Any other comments on how you all use your employees and how they have helped/improved your business and your day to day affairs. Thanks

import · February 17, 2006, 7:39am

Re: I need suggestions on hiring assisitant! - Posted by Frank Chin

Posted by Frank Chin on February 17, 2006 at 08:39:26:

Chris:

I know of a few Real Estate brokers in my area are not really active as brokers, but it fact own rental properties, do rentals, buy and sell properties, do rehabs and so forth.

When I was looking to list a rental for sale in one neighborhood, I found a broker with an office in an office building, BUT he was never there. Finally met the guy, and he explained that he was active managing his own investments, not hanging around all day waiting for listings.

Some others rent a “hole in the wall” place somewhere, hang the brokers license, but have “agents on commission” running around doing the work, answer the phones etc.

And if the agent manages to rent an apartment, he or she will collect a commission rather than get paid by the hour.

Of course, there’s been endless discussion here about the disadvantages of having a RE license. But for some people, its a good solution.

Here in NYC, due to high rent for commercial space, some offices with extra desk space is available for rent, and you can rent additonal services. For instance, an atorney I used maintains a storefront office, but rents out the first 15 feet of the storefront to a real estate broker, and they share one recepitonist that answers the phone. I notice the real estate office hiring commission brokers to do the running around. I think they might even have shared the clerical help with the attorney.

This way, they get around the problem of someone working in your home, and also have another side business that leverage the investment business, and cover the expenses. While they’re at it, they do some “property management” on the side.

I even done it myself. I started a computer consulting business, and took over one of my rental apartments to operate from, but the one BR apartment was more than what I needed. A friend who ran an import export business needed help answering phones, receiving faxes etc,. so I rented him ONE room with services, and I almost got what I would’ve gotten as a rental, but what he got was a complete package of office services for several hundred a month. I got extra room for him if he needed temps to process the paperwork, which at the time he didn’t need.

Then I know of some people who gone on, hired staff, decided it wasn’t for them, and scaled back to an operation that can be easily handled by one person.

Frank Chin

import · February 16, 2006, 6:02pm

Hire an assistant! - Posted by BC

Posted by BC on February 16, 2006 at 19:02:58:

I hired an assistant about 2 years ago. It was a great decision. I would suggest hiring someone who is willing to learn to do things the way you want to do them. For example, an agent with 10 years experience may want to do things differently that you do.

If you hire an assistant give them a basic salary with bonuses when they produce. For example, $500 week salary with $1,000 bonus for each property their efforts produce. Make sure they have an incentive to be productive.

The bottom line is I can only do so much myself. An assistant can do the things that would take up a lot of my time but I really don’t need to be involved in. For example sending out a mailing or showing a home. A good assitant is well worth the money you will spend and the time it will take to show them what you need them to do.

Good Luck!

import · February 16, 2006, 5:28pm

Re: I need suggestions on hiring assisitant! - Posted by ken

Posted by ken on February 16, 2006 at 18:28:39:

I wanted someone decent not a kid who did not care. Ihave tried that route and it did not work.My friends wife was looking for something to do to get out of the house a few hours a week now that their kids are in school.It is working great. I pay her $10 per hour for 3 mornings of 4 hours a day.If the kids are sick no big deal she stays home. The work she does can be done whenever.Mainly placing ads, Keeping track of paperwork etc.I got someone who cares and wants to do a good job and she got a flexible schedule.I have a payroll company do my payroll because i do have employees doing the rehab but that is the way to go, very easy,cheap and they know all the rules so i do not have to deal with it. I do about 30 deals per year

import · February 16, 2006, 5:20pm

Re: I need suggestions on hiring assisitant! - Posted by jetlex

Posted by jetlex on February 16, 2006 at 18:20:16:

Try posting an ad on the school bulletin board to attract college students that are interested in learning about real estate. I have a RE agent buddy who had to hire an assistant to post ads on the newspaper, check prices on different services, take pictures of property, make postcards and fliers with maps and make appointments and all sorts. For a student it’ll definitely be more interesting than sitting in front of a computer doing data entry.

import · February 16, 2006, 3:04pm

Re: I need suggestions on hiring assisitant! - Posted by Todd

Posted by Todd on February 16, 2006 at 16:04:58:

Not to put you down, but I don’t understand why you are so busy. I rehabbed 40+ properties last year and have about 20 rentals and I still have lots of free time. Granted I do have my wife handling the bills and stuff but she probably works 10 hours a week max and I might work 20-25. I have a good crew who handles my remodels and I check in on each house typically every other day and my rentals are generally occupied by L/O tenants who are responsible for the maintenance. I would hate to have to manage an employee that may not care about my business like I do. I would figure out what your biggest time waste is and figure out how to streamline that part of the biz. Good luck

Todd

import · February 16, 2006, 2:08pm

Re: I need suggestions on hiring assisitant! - Posted by David

Posted by David on February 16, 2006 at 15:08:02:

I would get a temp agency. They have have experienced office help and you don’t have all the legal, insurance and tax issues to deal with.

import · February 16, 2006, 10:54am

Re: I need suggestions on hiring assisitant! - Posted by JD

Posted by JD on February 16, 2006 at 11:54:53:

Been there.
The problem is multifold:

You aren’t in ‘the office’ a lot. So it is difficult to supervise them, and we both know that it is unlikely they are going to work much while you are not there.
‘the office’ is most likely your home. So you have a spectrum of issues there.
They need to have a broad range of skills, but you are not willing to pay big $$$. So you end up having to train them to do everything.
Once you hire someone full time you have a whole set of legal and tax ramifiactions.
You aren’t going to give them any real responsiblity any way, so they have to call you for everything, negating their contirbution.
etc…

My solution: don’t hire anyone, just be more selective in what you buy. I don’t doubt that you could get 20 calls from an $8/hr classified as was suggested. But how long do you think anyone that is reasonably competent is going to work for you before they get a ‘real’ job for $10/hr? I can see that kind of business model working if you want to look like a big shot and have an entire staff that you supervise with a partner, but for a small investor I don’t see a full time office assistant as beneficial.

import · February 16, 2006, 8:52am

Re: I need suggestions on hiring assisitant! - Posted by a

Posted by a on February 16, 2006 at 09:52:56:

What part of the country are you in? A person for this position would be paid differently if they were in New York, NY or Atlanta, GA or Lexington, KY.

import · February 17, 2006, 3:56am

Re: Hire an assistant! - Posted by Tony Camero

Posted by Tony Camero on February 17, 2006 at 04:56:09:

great post…I like the bonus idea…when I get that big I think I will be following that advice

import · February 17, 2006, 9:23am

Re: I need suggestions on hiring assisitant! - Posted by Christen

Posted by Christen on February 17, 2006 at 10:23:14:

I agree with Tod. You may want to examine your how you spend your time, and maybe streamline things a little more. I do 10-15 rehabs, we are building a spec house, and have some rentals, most of which I got rid of because they are low income and I can’t stand dealing with the tenants! Personal choice. Anyway have lots of free time and I sell my properties via owner financing and then sell the mortgage, pretty labor intensive way to sell. I think you may have some major time suckers in your operation. Maybe the crew that does the rehab, or tenants, etc.

import · February 17, 2006, 10:34am

Re: I need suggestions on hiring assisitant! - Posted by KPC

Posted by KPC on February 17, 2006 at 11:34:22:

I agree, they also would know what you would need to pay someone with the skills you want.

import · February 16, 2006, 12:40pm

Re: I need suggestions on hiring assisitant! - Posted by Berno

Posted by Berno on February 16, 2006 at 13:40:54:

I agree with some of his points, but having help can make it easier to expand. Eventually, you will have to place some trust in other people to grow. Running an ad for $8 an hour will get you people worth $6-$10 and hour, but an ad for $10 an hour will probably get some people to apply that may be worth a great deal more. Flexible schedule, etc can help draw in a good person on the fence too. Also consider a web presence if you already don’t have a web site. You can reference people to the web site to get information that they would normally call about. You can also post pictures of your property etc, possibly reducing your need for assistance.

import · February 16, 2006, 8:54am

Re: I need suggestions on hiring assisitant! - Posted by chris

Posted by chris on February 16, 2006 at 09:54:27:

Ohio

import · February 16, 2006, 1:09pm

Re: I need suggestions on hiring assisitant! - Posted by Robby C

Posted by Robby C on February 16, 2006 at 14:09:12:

Where in Ohio? I have property Columbus / Lancaster.

I am going to be needing an assistant also. I will probably be getting a family member to work on a weekend or two per month.

Have you tried to see what temp agency can do? I think that may ease soe of the legal issues for you and you may be able to hire them if the employee is worthy.