Looking to hire someone but don’t know who
Hello everyone! I am to the point where I’m doing 5 houses at once now and it’s getting a little stressful. I have a project manager who is supposed to be over all the crews but I still feel like I’m in charge of everything going on. I’m needing good advice for my properties to start flowing better without me being involved as much. I need to focus on getting more and less on the day to day. Any advice?
- Investor
- Austin, TX
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Hire a GC.
I agree with Eliott. Hire a GC! I have a great one I can recommend. Just message me if interested. He makes all projects run seamlessly so that your involvement is passive.
im an investor and a gc. you can go either way these people recommend. if your having a problem with a guy you have managing 5 houses he probably isnt the right person as a project manager(as long as your not restricting his duties) should be able to handle 5 houses like a walk in the park if thats his scope.
of course unrealistic goals, hamstringing him or micromanaging will derail that process but it sounds like you want people to report on the resolutions to the problems and report progress.
if your solving the problems and hearing only about issues- that person isnt the proper person.
we run about 10-12mm/year and have 4 project managers, supers under them, thats how we do it.
- Lender
- The Woodlands, TX
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Quote from @Christian Walker:Sounds like “business growth” pains. My weakness as a manager has always been that I didn’t want to accept less profit short term by making the investment in building a better performing management team. Top performing, reliable long term people always initially cost more than you want to pay. And you need to grow your business from that point to the next level to make it pay financially.
Hello everyone! I am to the point where I’m doing 5 houses at once now and it’s getting a little stressful. I have a project manager who is supposed to be over all the crews but I still feel like I’m in charge of everything going on. I’m needing good advice for my properties to start flowing better without me being involved as much. I need to focus on getting more and less on the day to day. Any advice?
A more fundamental question is “do you want to be a manager”. After 19 years of building businesses, managing a growing number of people, and handling everyone’s problems, needs and concerns, I totally restructured my business life, going back to being a “lone wolf” investor. Fortunately I was able to harness the technology revolution of the last 23 years to build the volume of investment activity that Would only have been possible last century with a relatively well staffed organizational chart.
I think we often opportunity in our endeavor, and rush in regardless of the effect on our time, efficiency, productivity, and mental well being. Although I’ve never been in the fix n flip business, a friend of mine was heavy into buying SFR at auction in Arizona in 2009-2013. He was rehabbing 20 at a time, and working 90 hour weeks. He decided to replace twenty $200,000 projects with two $2,000,000 projects. The result was a 75% reduction in number of workers managed, a flattening of the organizational chart, a workweek cut by more than half, and very little change to bottom line profitability.