All Forum Posts by: Josh West

@Josh West

I like to think of myself as a start-up professional. I have tried to start several businesses and once I get to the action phase of each one I end up stopping for some reason. One thing that helps me when planning and organizing my day is to do something I call my "Big 3".

First thing that I like to do each day is to decide on the top 3 tasks that I want to get accomplished. Try and make these the tasks that you need to finish but hate to for one reason or another. These may be ones that take the most time or frustrate you the most. Once you start, just get them finished. This way you have the rest of the day to work through everything else and you feel a sense of accomplishment due to the fact that your "Big 3" is complete for the day. Tomorrow, do the same thing.

I hope this helps some of you. Let us know!

Hey Josh,

There are a few ways you can better manage your time. Here are few suggestions:

1) Use your calendar. If you know certain events are coming up or you want to do something on a certain date, put it on the calendar and set reminders for 1,2,3 days out. 

2) Batching. If there are tasks you do a lot that don't necessarily have to be done as often, maybe batch those tasks and only do them once a week or once a month. Examples may be checking your mail or washing your clothes. If you set a specific time to do these task instead of doing them adhoc, you will free up a bit of time.

3) Use a task list like todoist. This is is a digital task list where you can centralize all the tasks you need to complete. You can schedule them as well. There is also a mobile app you can use which is great for those time you need to put something on your list while on the fly, instead of keeping it in your head. 

I have used todoist to organize upcoming task for buying and selling a property. 

My final suggestion (should have been my first) is to read the 4 hour work week by Tim Ferriss. This book will adjust the way you think about time and will definitely help you develop a mindset to better organize your time. 

Keep looking for the answers and you will find them. Good luck and let me know if you have any questions. 
 

Welcome @Josh West! I have doing investment full time for about 4.5 years now. Its definitely scary at first. Luckily, there are many friendly experienced investor in Portland thats willing to help and guide. One group you can check out is Rarebird, they have a community call Investor Lab.

Welcome! 

My recommendation is to go visit and smell properties, and then project to see what they might sell for and what the cash flow would be on them. Also, seek out a lender you like working with whom can get you into a property or seek creative financing. Be aware, there is a LOT of cash in this market, and "good deals" go fast. So you might find yourself learning on a project or two that does not look "as lucrative" as the expected %'s should play out, but will provide you insight. When I put "skin in the game", that is when I learned that fastest. I often say I was a "wanna-be" before that. In the end, you have to be comfortable with your purchase and ideally needs to cash flow positive. I would also ask people (in your current role, if you can) why they move out and what they like best about their new home. This would give you a perspective on what people like. 

Regarding Realtors, find one you want to work with that can be in it for the long haul, and be mindful that many will want to see where the reward is for them. I have met lots of investors that want me to show them endless homes to find "the right one", although that is an impossible search. Impossible, because I see value in most homes I see; the possibilities are endless. If you want the greatest flexibility to look on your own, go get your own license. That's why I did it, not for "a job", but to increase my knowledge, and to help myself - now I help others too.

Hi Josh, 

   When you get your first deal (and I know you will) if you need contractors I can give you contact info.  The company I started In Portland 10 years ago before I moved out here to Maui is still going.  Under a new name but the same guys I worked with are running it.  They're solid, licensed GC's, and talented.  If you or any else in Portland need a good General Contracting or remodeling company PM me and we can exchange info.  

Mahalo and good luck with your journey.

Hey @Josh West, I have so many things for you.  

1. I also prefer to invest in small multifamily.

2. My wife worked at University Pointe near PSU for 2 years on the leasing side.

3. I'm getting a 5-day Meadows pass this winter (skier).  

4. I remember when I did my first deal it was really scary.  I took lots of little steps and my agent at the time pushed me at just the right moments. 

5. I like to lay out my ideas numerically ; )

@Josh West

Sounds like you have a great start! Are you working with a broker to look at multi-family properties yet? You'll want to find someone that knows the investment side of the business so they aren't pushing you into a deal that may not make sense for just a commission. Have you gotten a Pro-Forma that you are using to look at deals?

I am located on the west side and am very active in the market. I would also check out the investment groups out there. WIN (West Side Investors) is a great place to meet other investors and people that are working in the business as well. As a leasing agent, you may want to join NARPM (National Association of Residential Property Managers) and attend the local meetings to meet more people in the business.

Season got cut short last season, so hopefully this year will be better up at Meadows. I know I have a season pass from last year that I heard rumors they will give a discount for. Also, if you race at all, happy to introduce you to the guys at SVSC.

Welcome!