How often are you taking the time to pause and reflect on what's happening in your business? How often do you think about what's next for it and ask yourself where I'm at? In this episode, Johnoson reflects about the first quarter of his 2020.
No one could have predicted this pandemic. This COVID 19 pandemic has literally shut all down. People are staying at home, some businesses are open but most businesses are greatly affected by the virus which led to permanent closure of some.
This is a best time to reflect and think how your business is going. What's happening in your business and then plan the next steps.
For Johnoson, here are some of his reflections on the first quarter of his 2020:
As of 1st of May, he has no properties under contract. That is never been the case as he has been growing his business in the past years. But with the current pandemic, it seems like the right time not to be out, putting things under contract and making commitments to come up with money because we don't know what's going to happen. We don't know how long this virus is going to impact the economy.
It's a great time to invest but it is also a great to slow down. And sometimes you need to slow down a little bit in order to speed up.
The slowing down of the acquisition allows his to do some research and figure out the best way to find a good property manager to take in charge of managing the rentals. Part of the real estate investing is the actual property management which is very important.
On the consulting side of things, he wants to have more clients but he also wants to keep the group small enough to where he can work with everybody on an individual basis.
He is managing over 100 rental units at this point and he is at crossroads. Johnoson is reflecting on where to go from here. He is thinking about how big he wants his business to be and the exact types of properties he wants to own.
This type of reflection is what allows him to decide the next steps he should be taking on for his business. YOU need this too!
And yes, he is reflecting this kind of stuff but he is still very active in the real estate space. So if you are interested to get in touch with him, email Johnoson at [email protected] and get to know more about him, his work, and services at http://grabthemapllc.com/.