The Silicon Valley Investors Club is excited to have Nicole Sarrate join us for a talk about how real estate investors can use PropTech to increase their efficiency and their productiveness. She’s a real estate investor and professional from New Jersey.
What is PropTech?
PropTech, trendy talk for Property Technology, is how professional real estate investors gain a competitive advantage in their industry. This is a wide world of products that range from yoga to operating systems.
Those familiar with PropTech tools often associate them with high entry costs, making it available only to the biggest of our bunch. But I’m here to show that you don’t have to be the bourgeoisie to work like a pro!
Thank you for joining me for this 3-part series and I hope you continue to check out part #2 and #3. Before we get started, I wanted to quickly note that I don’t have any vested interest in the companies listed. Just sharing some tools that have helped me along the way.
PropTech Tool #1 Todoist
Okay, I admit it. This is not specifically PropTech, but it is LifeTech, and considering real estate is your life now, let’s go with it. I promise, it’ll be worth it!
This is the first tool listed because having a good workflow is step # 1 to working like a pro. Everyone has their rhythm and ways, yet Todoist has a simple and intuitive approach that makes it feel natural.
Some of the features are so natural, I found them simply by using the program. For instance, when typing a new task, let’s say, “Review architecture plans with contractor at 11AM every Tuesday meeting,” Todoist will automatically pick up the date and time to set the task for then. In this example, it will even create a recurring task since “every Tuesday” was noted, as the example below shows.
This brings me to another productivity trick, Todoist integrates with a variety of other tools, including various calendars. Setting up a time and integrating into your calendar can help you automatically time block your day to stay focused on preset priorities.
However, it’s the robust compatibility Todoist has with so many other apps and programs that makes this a productivity beast. For example, combining Todoist and IFTTT will allow you to create a ton of automated tasks working (hopefully like some of your investments) passively in the background.
Not only does Todoist help you be productive, it also helps you track your productivity. It has features such as Karma and a Year in Review. The Year in Review feature is particularly helpful because it includes your most productive day of the week and time. Being aware of when you’re at peak efficiency is helpful to determine when you should target your most important tasks.
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Time for Teams
As is well known, we can’t be perfectly productive alone. With the free version of Todoist, you may have up to 5 team members to coordinate with. Here are a few great ways Todoist helps you collaborate:
- You may add team members to projects or individual tasks.
- This is helpful as you may have a VA (virtual assistant) or a contractor that you may not wish to give access to all your projects or personal objectives.
- You may monitor a project’s progress and share comments.
- Under Notifications, you are also able to see a history of team member’s activity.
- You may utilize Todoist with other collaboration apps, such as Slack and Microsoft Teams.
If you want a little more on this, here’s a great article from the Todoist blog specifically about team task management.
Project Your Projects
Todoist simple layout and formatting flexibility makes it easy to organize projects.
For example, remember those architecture plans? They were for a renovation at 123 Main Street. So, I made 123 Main Street my project name, with tasks and sub-tasks within the project.
As you can see in the below example, it’s very easy to read and the icons on the side clearly indicate which tasks are delegated to a team member.
Todoist also has sample templates for a variety of objectives from personal development to business needs, including one specifically intended as a Project Tracker. With a couple clicks, these upload into your Todoist.
In case you’re interested in learning more on how other real estate investors find Todoist useful in the field, or just wish to fantasize about being in the French Alps, you may like this article as well.
While the free version can get you by, I do recommend checking out this video to see how some of the additional features can be useful.
In the event it intrigues you, here’s a link for a free 2 month trial for the paid version. That way you can decide if the additional features are worth the price of a cup of Starbucks coffee once a month.
Well, I don’t know about you, but I think we’re off to a good start. I look forward to seeing you on part #2 and part #3 of this 3-part series. A bit of a spoiler, we’ll be taking a stroll through 123 Main Street; no travel required.
Ciao, for now!
Related Article: SVIC’s Guide to Getting Started in Real Estate Investing
Silicon Valley Investors Club (SVIC) is a global community of STEM professionals interested in making smarter investment and career decisions.
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