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Updated over 5 years ago, 04/08/2019
Feel like I'm losing my mind. Seasoned, organized investors. HELP
Hey everyone,
I am just completely unorganized. My situation is stressful but I realize I am creating that stress mainly. I work 65+ hour weeks running a kitchen, so that is already stressful. I realized that I am looking at REI as my "out" from the food industry and this incredibly stressful job managing kitchens. Maybe that isn't healthy but I don't know how to reroute that thought process now.
I started with $20k on 11/2017 and as of 12/20/18 had accomplished one flip and obtained five rental properties (1 Quadplex, 3 Duplexes, 1 SFH). Much further along than I planned to be at this point already, but I have this voice just saying "we need to find more asap. We need to grow as quickly as possible." On top of that, I am just, as already stated, completely unorganized. I have an ok organization system as far as filing goes... but that's it. I have no decent method for tracking my communications with agents, the multiple analyses I may perform on different properties. It will be a sort of "Shoot... did I need to get back in touch with any of these people?" "Did I ever finish that analysis of that property? What conclusion did I come to?" Just incredibly scattered and that is causing a lot of stress.
Do any of you have some really successful, useful methods you use to organize communications, communication streams, thoughts, analyses, etc. to get everything straight and help keep your head MUCH less cluttered and unmanageable? Anymore, when I sit down at my desk and computer before I even do anything, I am so overwhelmed because I have no idea where I even left off. Maybe I am looking in too many places for deals right now too. But also when an agent presents me with a deal that could have some potential, I just feel overwhelmed even by that and kind of fall off the radar, whereas this time last year I was GO GO GO and chomping at the bit. Now I am chomping but then when the door opens I cower away from it. Don't know. Just wasn't sure if anyone else had run into any of this themselves. I'm clearly overwhelming myself... just trying to figure out how best to organize my thoughts and such so my head can be more clear I guess.
Sorry for the rambling nature of this. Just trying to get my thoughts out so maybe I can grab some advice, especially on the organization piece.
Thank you!
"You are expecting too much from yourself in too little time."
Yes. That is echoed by my girlfriend. She keeps pointing out that my goal for 2018 was to finish my first flip and maybe obtain ONE rental. I ended 2018 having finished my first flip and obtaining five rentals that total 11 units. So, I am much further ahead than I already hoped I would be... but that gave me the itch!! haha But yes, you are right. Especially with the time required by my day job.... I need to be approaching this in a less intense and almost... panicked fashion.
Thanks for the book recommendations. I will add those to the stack by my bed... haha I think it is about 12 books tall at the moment. I need to set aside time to read again.
Also thanks for the advice on focus. I was originally focused on three specific areas withing 1.5 hours of my location and then just recently kind of exploded in all directions... contacting a bunch of different realtors... it became extremely overwhelming extremely fast. Clearly I do not have the time for that sort of approach at this point. I have the mind for it... if I had the time, but since I am not planning to drop my day job yet, I need to chill.
Appreciate the feedback, man. Everyone has been helpful here. It has already helped me calm down in my head quite a bit.
A couple of podcasts:
The Solopreneur Hour Podcast (mostly the early stuff, started becoming a little "gimmickie" in the later episodes). Good info on virtual assistance and other ideas on running a one person business - none directly focused on RE as I recall, but easily applicable.
The MFCEO podcast - for when you need a kick in the butt!!! (uses a lot of pretty harsh language, but is super motivational without the fluff and feel good stuff).
Entrepreneur On Fire(I have only listened to a few of these, but they seem good to get an idea of what other industries are doing to be organized, efficient and productive.
Books (audio):
The Compound Effect
Subtle Art of not Giving A F***
The Millionaire Mind - (discusses how most millionaires actually live, not really advise, but practical info - it was not what I thought the life of a true millionaire would look like).
Think And Grow Rich
I've got a few more I cant think of at the moment, but I can add more when I recall the titles.
@Brian H. Check out Onenote.com
It is free, you can upload data from any device, it has a virtual notebook so all of your notes are in one spot, and any and all documents are saved in the same spot. You can also access excel, word, and a calendar. It is a great way to keep everything in one spot. It also auto saves to the cloud so you won't lose any data.
- Matthew Irish-Jones