When I (Kevin) worked for the government, my time was worth ~$30/hour. My plumber’s time, on the other hand, is worth $125/hour. Look at what you get paid at work. That’s what you have agreed your time is worth.
Now, how can you make more money? Well, one way to do that is to work more (at your current job or a side hustle). Another way is to make more money per hour of your time. That’s leveraging time and money.
In the real estate investing world, that’s generally done in one of two ways (though there are more nuanced ways too):
rental properties or fix and flips
The first step, though, is to start looking at your time as a resource that you choose to spend in different ways. Once you start looking at time as a resource, you’ll treat it like we’re all taught to treat money – carefully spending it on things you need, some wants, and hopefully nothing that you don’t need or want.
We have an awesomely landscaped yard. We also DON’T LOVE to landscape. We decided to hire a landscaper. Now, we have more time doing things WE DO LOVE, like spending more time with our kids, adventuring, or selling real estate, and the landscaper spends more time doing what he loves – landscaping and providing for his family’s wants and needs.
It’s a win-win if you’re not greedy. I say greedy, because I’m sure you CAN do just about everything, BUT if you could focus on what you’re best at AND let others do what their best at, would you?
That’s why we have a landscaper, cleaner, and get our groceries delivered via Instacart (what a godsend!), among other things. Delegate more. If you want to make $50/hour, don’t do tasks that can be done for less than that per hour. Hire those out.
In a week, we probably save 6 hours or more by doing that. That’s a whole lot of extra time with the kids, adventuring, selling real estate, and living our best life.