As a parent, there are times when I look at my son and think “I wish you could get this lesson through hearing it vs having to live it.” No matter what wisdom I think I’m dropping, life teaches it in a way that makes it stick.
While I may shake my head occasionally, are any of us really that different? Likely not. The same lessons we learned at one life stage may pop up at another. Old lessons in new clothing are simply a chance for us to level up.
Over the last few months, I must have been leveling up a LOT. I moved to a new town and decided to rent out my old house to traveling nurses. Because I needed another set of responsibilities and a 3rd (or 4th) job apparently. <insert sarcasm here>
During stressful times, we may need a refresher on those old lessons. They become new again and remind us of the skills we need to move forward purposefully and successfully. Lessons that help ensure we navigate the difficult waters and avoid burnout while doing so.
There were five lessons that I ran into head-first over the past few months. While we may need to experience a lesson to truly learn it, I hope in sharing to accelerate recognition in others.
1. Time value of money
This girl loves change and challenge. The opportunity to find just the right furniture between two homes had me in alt. Facebook Marketplace was an excellent way to hunt for what I needed.
While FBM and scouring for deals can be fun, it’s also time-consuming. I definitely saved a lot of money on big-ticket items like dining room sets or dressers, but at what cost for time? It was taking quite a while, on top of getting settled in a new home, to get everything ready for a renter. At the same time, each month without one meant money going out the door on two properties.
Knowing my penchant for procrastination, I went ahead and posted the space before it was quite finished. This forced me to set a date and start making online purchases where I could. While costly items may be worth the time to find a deal, the small stuff isn’t.
Our time is worth money, not just what we spend it on. Before investing a ton of time, consider whether it’s more cost effective to outsource (or shop online).
2. Good enough is good enough
My front sitting room is still empty and the dining room table only has 2 chairs. There’s only one person that uses that table and there’s another private sitting room and a living room elsewhere in the house.
While I had a vision of what the house should look like, I also had to consider whether the spaces would get used. Whether it was usable in its current state without me obsessing over the projects that are not yet done.
If I waited to get to my original vision of done, I would have missed out on months of rental income. Instead, I made sure everything that was necessary was finished and will eventually get around to recovering the two chairs for the dining room. Or not.
While we wait for perfect, we’re missing out on opportunities. Get started with good enough and we’ll quickly find what’s really standing in the way (hint: our perfectionism isn’t it).
3. Let people tell you what they want
I’m not a traveling nurse. While I had an idea of what might be of interest to a tenant, I didn’t know exactly what they might need. Rather than assume, I started researching sites and asked what might be missing. Once I had tenants, I asked them what would make their lives easier. They are my customers and if I’m willing to listen, they will let me know.
This is a big one. How often do we center ourselves in decision-making? Design? Products? When we put the customer in the center and ask them what’s important to them, we’re more likely to develop a product or service that they’ll want.
4. Don’t compare
The sites I went to for research were filled with other rentals. In some cases – WOW – the owners really went all out. They were fashionably decorated like the best AirBnB’s and had amazing photography.
While I’m a trained photographer, I figured my phone was good enough to get started and I was more worried about the necessities than having each room insta-perfect. Those oh-so-decorated spaces had me doubting, however, that what I had to offer would appeal to my tenants. I needn’t have worried.
Yes, we want to be aware of our competition and make sure we’re offering value for our services, but comparison feeds fear and keeps us from getting started.
5. Ask for help
This has always been a tough one for me. I can’t do everything myself. Having professionals lined up for various things that can happen is key (home ownership is no joke). Friends or neighbors that can keep an eye out or offer a hand is trickier.
I resist asking for unpaid assistance, but also know with all the hats I wear that it takes a village. As soon as my son can drive independently, he’ll be on my list as employee #1 to help with the tenant’s needs…even if it’s just mowing the lawn.
Rather than try to do everything ourselves and risking burnout, we can look for the helpers. It might feel uncomfortable, especially at first. Just know that those around us are often happy to help and would love the opportunity to invest in the relationship in any small way.
Remember the why
It’s been a few months and I’ve already learned a lot from being a landlord. There have been unexpected ups and downs, which will hopefully be less frequent as time goes on.
Throughout the experience, there’s one lesson that has kept me going…remembering why I’m doing it. Whenever things feel hard and I feel pulled in 10 different directions, going back to my purpose helps me stay centered.
While this was an unexpected side quest in my journey, it’s been filled with insight and growth. Twists and turns in the road can be seen as a disruption. Or we can realize they are the best way to see more of the world around us.
