As parents, time is a rare commodity which is why setting up your business virtually has a lot of advantages, especially during this global pandemic. It helps you be as efficient as you can. Losing an income stream is something most parents can’t afford. Unfortunately, a lot of businesses were forced to shut down when the pandemic started last year, but Lauren Hardy managed to continue with her daily business operations as usual and earn from home being with her kids.
In this episode, Lauren talks about why it is more beneficial to set up your real estate business virtually if you have kids and or planning to grow your family soon. Despite going through a rough time in her life, Lauren managed to have a good performing business without neglecting her parental responsibilities because of this strategy. She was prepared in her wholesaling business even before the pandemic started, and she’s reaping all the good things out of it.
Why Virtual Wholesaling is the Best Business Model if You Have Kids
In this episode, I am going to talk about why I think virtual wholesaling is a better business model if you have kids. You may have kids already or you may be thinking of having kids in the next few years. If you are, you need to know this now as you’re getting started to set your business up to be as efficient and scalable as possible. What I mean by scalable is that you don’t have to be present for your business to keep running. You are not trading your time for money. You are utilizing other people’s time and still making money. When you have kids, you know that time is a rare commodity. When you have kids kiss time goodbye because you basically have none of it left.
Every day, as parents, we get obstacles thrown at us. We get stomach flus, ear infections and global pandemics. How is the mom or dad supposed to work all day and raise kids? I don’t have all the answers but I 100% know that I am ahead of the game on this one because I set myself up from the start to have a scalable virtual business. Why did I set myself up? It was a coincidence. It wasn’t a forward-thinking activity that I knew I wanted to scale my business one day. It wasn’t like that at all. It was more out of necessity.
When you have kids, kiss time goodbye because you’ll have none of it left.
When I first started this business, I was going through a divorce. I knew that out of that divorce, I was going to be the primary caregiver for the kids because my ex-husband and awesome co-parent has a corporate job. I was the one that had a self-employed career. I was flipping houses and wholesaling at the time. I was the one that had the more flexible career where if a kid did get sick or if there was Thanksgiving break, the kids could always stay home with me. He was able to go to work and focus on moving up the corporate ladder. It was the way it was.
It was the way we were set up. I knew that with being divorced, I was going to have to make money. I was also going to have to figure out a way to make money while having inconsistent schedules with my kids, inconsistent daycare schedules. I needed to be able to work around my kids, basically. I had to figure out how to work virtually and remotely as much as possible.
In this episode, I’m going to share with you why I’m so glad I did that. I’m glad I set myself up virtually years ago, especially at the moment that we are in 2021. I’m also going to explain what happened to my competitors in 2020 who did not set themselves up virtually. I’m also going to talk about why you can still be virtual, work your backyard, and why you should create a business that is scalable from the start versus one that isn’t. Let’s get into it.
I am glad that I set myself up virtually years ago especially in 2021. Let me take you back in March 2020. Us parents got a week’s notice that our kids would not be returning to school after spring break. We were all going to have to be home with our kids and work from home around them. I looked at that going, “This is not going to be fun.” It is not easy to work around kids. At the time, my wholesaling business was on fire. We were closing 55 deals a year. It wasn’t like I could stop working because we were in a global pandemic. Not at all. What did I do?
I kept working. I kept my kids at home like we were supposed to do. We quarantined and I worked. After a couple of days, I realized that my actual business activities did not change at all. I didn’t have to make one operational adjustment because I was already virtual. My friends who had kids were overwhelmed because they were not set up virtually with their jobs or with their careers, with their businesses. They were all extremely stressed out because they were trying to figure out how to make their businesses work when they couldn’t physically be present there.
For me, the only difference was that my kids were around me so I had to get used to working around my kids all day. My kids got used to about ten times more screen time than usual. Quarantine is over for now but the kids’ inconsistent schedules still exist. If someone coughs, we have to quarantine or if there’s a holiday or staff development, they’re out of school again. Basically, consistent childcare is not something that us parents could rely on at this point.
More offers equal more deals.
If I was set up where I had to physically be in my market, where I had to go on seller appointments, I couldn’t have done this business honestly and be the primary caregiver of my kids. There’s no way. Because I was set up to be virtual, it is hard. I’m not going to say it’s easy to have my kids at home from time to time and work around them. My business doesn’t have to shut down like some of my competitors.
What happened to my competitors who aren’t virtual? In 2020, a lot of my competitors were completely stopped in their tracks. They were used to going on seller appointments and had no idea how to comp a house or make an offer without seeing the house first. They had no clue how to get a seller to sign a contract over the phone and they didn’t have a script that conveyed to the seller that they could be trusted to perform. All things that I mastered years ago were starting from scratch. Having to do that in the middle of your business is like a nuclear bomb landed on you. A lot of my competitors couldn’t stand it and they had to get out of the game during the pandemic.
Why should you be virtual even if you’re working in your backyard? It’s because seller appointments are d***. In the amount of time, it takes to get in your car, meet the seller, pet the seller’s cat and inspect their house. I made 20 seller calls, 10 offers and 1 contract. I’m serious. I can call 20 sellers, probably make 10 offers and get 1 contract in the amount of time that you talked to 1 seller, made 1 offer and probably did not lock up that deal. More offers equal more deals.
If you are in a situation where you cannot make an offer until you are in front of a seller, you are limiting how many offers you can make in one day. Thus, you’re closing fewer deals and making less money. You need to set yourself up to be virtual so you can make more money in less time. As a parent, you do not have time on your hands so you need to be as efficient as you can. When my kids were babies, I had zero time. I was making offers while they napped or while they were busy playing with their toys, if I can sneak out for a minute without them noticing, I was talking to sellers and making offers. I do not know how I would’ve handled seller appointments with a toddler clinging to my leg especially my toddlers because they were nightmares.
The term virtual is not investing out of your state. It’s a concept of not having to physically be there and close the transaction. It’s something I am so passionate about. The reason I’m passionate about it is because I truly believe that you should create a business that is scalable versus one that isn’t. Since I was virtual in the early stages of my business, it was very easy for me to train someone to do what I was doing because a lot of my processes did not require me physically being there. It could be anyone. Hiring employees gave me back my time so I could spend that time with my kids. I’ve always been a very present mom. It was very important to me. That was a value I had, was time freedom. That’s why I got into this business.
I got in this business so I could be there for the important moments of my kids’ lives. I did that because I didn’t have that same opportunity growing up. I had the mom who had a corporate job, worked 65 hours a week and she missed a lot. I knew that when I had kids, I was going to do it differently. Time and freedom were very important to me. To get yourself time freedom, you have to set yourself up for it. It’s hard to unwind your company’s operational procedures once you’re too far in. You need to start out that way.
If the concept of virtual wholesaling interests you like maybe you’re a busy parent or you don’t want to trade your time for money anymore, check out my coaching program. We have a ton of successful students that have come out of it. I literally get texts every day from them. It is crazy to have been able to impact many lives with my ideas, mistakes and learning lessons so these people don’t have to go through what I had to go through and to bring it full circle. Parents, I feel you. There is so much pressure to rise in your career and make a ton of money. At the same time, you have to be present in your kids’ lives. It’s a lot. Every day we get obstacles thrown at us.
I am here to share my knowledge, my experiences with you. I don’t have it all figured out. I am not saying by any means that I am the world’s best parent but I am here to inspire and motivate you to want more out of your life and your relationship with your kids. I hope you enjoyed this episode. I was talking to the parents out there or those who are thinking of having kids, something that I don’t think you read on this show probably enough. Hopefully, you enjoyed it. If you’re interested in a coaching program that teaches all things virtual, check out VirtualInvestingMastery.com. I’d love to see you in the program. Thank you so much for reading.
About Lauren Hardy
Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.
Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.