Posted by David Alexander on November 11, 1999 at 09:29:09:
Read the books EMyth and The Cash Flow Quadrant. You have to develop systems and switch quadrants, my thoughts anyway. Once the systems are in place growth can become tremendous and it doesnt have to be that complicated.
David Alexander
Time Management/Eric C. and Ray Alcorn - Posted by Shawn M. Crawford
Posted by Shawn M. Crawford on November 11, 1999 at 09:21:00:
Greetings,
I have posted to both of you before and enjoy your postings on this board.
I was a general contractor in the past and have over the past two years switched to full time real estate investing (general contractor right out of college in 1991.)
I work by myself…sort of.
I have three investors (money and credit only-bottom line interests only), two banks (partners, as far as I am concerned), upwards of tweleve work crews who work at least three weeks of the month only for me, and I make 5-8 offers to property owners a month.
Current Projects:
4000 sf, 100 year old home downtown that I am converting into office space. Hold for five years with tenant in place @ 12.00 sf. Project cost $260,000.00. 20yr note @8.00% five year ballon. Construction to start Dec. 1, 99.
Vacant lot 40x165 bought for 16,500.00 I am putting an 1800 sf house on the property. Construction cost 109,000.00. Comps 95.00 sf. Construcution loan 8.25%. No cash. Developers fee up front. Construction underway (foundation).
Another vacant lot similar to above. close Dec. 15, 1999.
Three houses on one block under contract. 60 day dd. Working on rehab costs currently.
Two house on another block similar to above. No contract yet. Trying to identify 1031 for current owner.
Phone calls from other people trying to sell me property that I may have talked too over the past year (in some cases two years) and I also actively look for other properties to put in the pipeline.
OK SO HERE IS THE QUESTION… HOW HAVE YOU ALL MANAGED THIS MUCH OR MORE BY YOURSELVES(PRESUMABLY) IN THE PAST OR CURRENTLY?
I have a daytimer, computer, hand held tape recorder, and mobile phone. There must be an easier way to manage all of this?
Any and all suggestions would be greatly appreciated.
Shawn
Re: Time Management/Eric C. and Ray Alcorn - Posted by ray@lcorn
Posted by ray@lcorn on November 13, 1999 at 09:18:55:
Hi Shawn,
I hate to say this, but the truth of the matter is that I just haven’t had time to answer this post!!!
I’m on the road, and will be for the next few weeks, so my time online is especially short. I have copied your post, though, and it has had me thinking about how I do handle managing multiple priorities. Your list of ongoing projects is enough to make me tired! I’ve got the same type of list, but right now I’ve got a lot of stuff on hold while I’m traveling.
My byword for the last ten years is that I try to do the “next right thing”. That usually means that the things I’ve put off, or the things that are not pleasant to deal with are often the “next right thing” to do, and therefore the philosophy keeps me from procrastinating too much. I have also found that I shouldn’t always do something just for the sake of doing something. Ernest Hemingway said “Never confuse movement with action.” Lot of truth there.
Like Lonnie says, don’t forget to make time to make some good memories. It isn’t all about work work work. My life is best when it is in balance, though that is much easier said than done.
Hope this partly answers your question. I know it isn’t a method or formula you may be looking for, but it’s all I have time for (right now)!
ray