when you have 3 turns and 1 hardcore rehab at same time?

Question

How does one go about prioritizing time when there are a bunch of things that hit at the same time?

We aren't in this situation right at this instant, but foresee this coming up.

Just wondering if you all have a good framework for prioritizing this stuff and / or do you have intermittent resources that can help?

Jim Goebel · Answer

Hey Chris great post and I really appreciate it.

I guess I'm confused how you can balance that much work.  Do you have to just push stuff out, because honestly there are only so many hours in the day is what I'm finding.  I hear you on adapting and getting more proficient as time goes, and I am, however that can only take us so far, right?  If I'm hearing you, you do ALL of the non trade work yourself?

Jim

Christopher B. · Answer

That's a good idea and totally ok. I am planning to slow down a little myself at the end of this year to do the very same thing. I think it's good to take a step back once every so often. Sometimes we cant see the forest through the tree's, yanno.

Jim Goebel · Answer

By the way, how do I do the @'person' thing and is the main advantage of that, that it lets someone know that I'm replying to their thoughts?

Jim Goebel · Answer

That's helpful for me to understand.  I was afraid I was just slow or something!  Unfortunately there's not a high degree of confidence in outside help right now - we've really struggled with integrating good resources and keeping them around.  Honestly the outlook right now is to just hunker down and do a lot of stuff myself.  It seems lately that my wife and I need more time together and less stress to get back on the same page, so it just seems like the right thing to do to kind of 'slow down' a little bit.  One of those 'get the house in order' kind of moments, I guess.

Christopher B. · Answer

@Jim Goebel No,I don't do any of the physical work on the jobsite anymore. I jump in from time to time to help move the project forward if needed and to show my subs I don't mind to get my hands dirty but I mainly act as a project manager. There are people out there that do much more volume than me, it's just about having the right processes. Honestly,  I don't have a perfect system and I'm working A LOT right now to keep-up. It's tough and sometimes things get pushed to the back burner. I admit my system could be better and am working to improve it. There seems to be a grey area between small and able to handle everything yourself and large enough to build a team to take things off your plate. To get from one point to the other you'll eventually have to find yourself in a position of maybe having too much on your plate. A custom home builder I know has experienced the same thing and the last couple of years his business has exploded to the point he now has 2-3 super's, office staff, and a CM with plans to expand into another city. Just a couple of years ago he was a 1 man show and told me he was up until 2am every night doing estimates, accounting, and other paperwork. I've watched similar events unfold in friends and family members businesses that have experienced good growth as well.

Christopher B. · Answer

Right now I am going into the trimming phase of a $180k rehab, punching out a $75k rehab, in day 2 of a $70k rehab, start a $50k rehab next week, and am turning a unit for tenants that currently live at another property which I will then have to turn soon as they move this weekend. I'm a one man show that wears all the hats.

1. Right now I use flippingsheets along with Word and excel documents to track each project and it's materials. Try to get your projects organized as much as possible upfront. Decide on your selections early on, order any materials you need ahead of time, etc.

2.Get evernote or something similar to keep individual lists for each property as well as your daily tasks. Spend a a little time in the morning, through the day, and at night to keep your lists updated. Use a calendar with reminders for everything important.

3. Have 2-3 people you can call for each trade. Know when to be flexible and when to be firm with your crews. Stay on top them and your timelines.

4. Don't step over dollars to pick-up dimes. When you have a lot going on it's more important to keep things moving forward than trying to get the best price on everything. This may even mean paying too much sometimes. It's ok, make a mental note to fix that issues and move on.

5. Be prepared to work. Hectic times like this give you the opportunity to learn how to build better systems and become more efficient. In fact, it will inspire a lot of motivation in you to improve and grow.

when you have 3 turns and 1 hardcore rehab at same time?

Most Popular Reply