All Forum Posts by: Christopher B.

I'd use Google sheets over excel, anytime someone updates the sheet it will automatically sync with everyone else's. Excel does this as well but Google is much simpler. Buildertrend could do what you're wanting but it's more costly, I think Evernote will be perfect for what you describe. You share a note and it will update across each person that is attached to it. You can attach pictures, make drawing updates on pictures/plans, etc, and it has a chat function so your team could discuss any specifics directly in the Evernote app. 

I use Evernote a lot in my business and even have subs download it so I can send them drawings, SOW's, what materials go where,etc. They dig it because if I'm not on a job site to answer their question they can reference it really quick.

Just stick to the vanguard 500 index fund 

@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. 

 I haven't been able to find a PM in my market, wish I could give you a good answer for that.I generally manage them myself, I used a GC on my most recent project that oversaw the major work on the 2 additions we put on the house. Once the shells were built and dried in I stepped in and took over the management of the project from there. 

@Manolo D. yuck, daily employee management. I schedule my jobs 2-3 weeks out and adjust my schedule every Friday and update my subs accordingly. With 2 of the employees it wasn't that bad, I just had one that wasn't experienced enough to do what you stated. Like you said I just need to get more experienced people. I do work with local building suppliers as much as possible and try to stay away from HD when I can. Pricing from my suppliers is generally much better than what I'd pay at HD but I do need to build stronger relationships here. I may take on just 1-2 more project this year as the 6 I have done have gone well and I'm planning to spend that time on the operations side of my business. My goal is to improve that side of my business so I can get up to 15-20 houses next year.

I appreciate the fantastic insight you've provided, you've given me a lot to think about as well as very good specific steps to take. 

@Tony Wooldridge I'm sorry to hear about your accident and hope you're doing alright. I was in an accident last year that nearly took my life and my arm so know that situation too well. You're right, it's definitely an eye opening experience in many ways!

My intentions were to get to the point of spending more time on instead of in my business since the beginning. I just got caught-up in taking deals down and didn't progress to that point as fast as I should have. This is what happens though when you spend your time in the business, you become the bottleneck. My first project I worked 14hrs a day, 7 days a week, for 6 months. I can't physically do that anymore due to my injuries but wouldn't want to even if I could. After my accident my business really slowed down because I wasn't able to be there driving it forward everyday and this, along with a lot of the headaches that naturally come with working in the construction industry, was my catalyst. I had already mostly phased myself out of doing the physical work on my jobs at the time but everything else was still tied to me. This is what I am looking to change now. Being more involved in the beginning is a good thing imo, especially if you're not familiar with construction because it is a unique industry. That doesn't mean you have to be there installing tile but be proactive about educating yourself on the ins and outs. Even if you have a great gc or pm how can you manage them if you don't have the proper knowledge? 

The question you have to answer is what are your goals and what do you enjoy doing? Do you want to wake-up everyday and go to work to build as big and successful a business as possible or would you be happy doing 4 houses per year  @ $25k +/- a house and only working 6 months? You can build a scalable business that can accomplish either. As you continue to gain knowledge and experience you will see more and more of the numerous business opportunities that are surrounding you. This, to me, is the challenge because it's tough to turn those opportunities down sometimes and is something to really think about before you begin your journey of scaling so you can focus on building the most appropriate model.

Hope that addresses your question

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. 

Weird but this is a good thing though. Use it as an opportunity to switch to a smaller local bank. Make sure they are open to working with investors like you and what you want to do and start developing that relationship. 

@Sarah Young  No problem. I think that'll be the best route for you. How you've started is exactly why many get burnt out of the landlording business. It's tough sometimes but has to be done. Good luck 

@JD Martin preach it brother