As I look back at the first quarter of 2020, I can’t help but reflect on how much has changed, not just for me, but for everyone in the real estate business. I’ve always believed in the importance of pausing, reflecting, and making adjustments based on what’s happening in the market. And if 2020 taught me anything, it’s that you need to be adaptable.
For those who don’t know me, I’m John Crutchfield, and I run Grab the Map LLC. I’ve been fortunate to invest in rental properties across Mississippi, Texas, and Louisiana, and let me tell you, real estate has changed my life. I started this podcast to help others grab their own piece of the map and build financial freedom through real estate. So let’s dive into some of the lessons from the first quarter of this year.
The Unexpected Impact of 2020
When 2020 began, I don’t think anyone could’ve predicted what was in store for us. Like many of you, I had big plans for the year. Real estate deals were rolling in, and everything seemed on track. But then, COVID-19 hit, and suddenly, the world was flipped upside down. By May, I found myself in a position I hadn’t been in for two years—no properties under contract.
Now, this may sound like a bad thing, but honestly, it’s been a blessing in disguise. The uncertainty in the market and with lenders made me realize that sometimes, it’s okay to step back. You don’t always have to chase the next deal. In fact, not having anything under contract allowed me to slow down, take stock of my business, and figure out where to focus my energy.
Slowing Down to Speed Up
That brings me to an important lesson I’ve learned—sometimes you’ve got to slow down to speed up. I’ve been running at full speed for years, always chasing the next rental or investment property. But with the market shifting, this was my chance to hit pause and regroup.
Instead of chasing deals, I’ve shifted my focus to managing what I already have. You see, owning rental properties isn’t just about buying them—it’s about making sure they’re running smoothly and providing a steady cash flow. Right now, I’m taking the time to really dial in on the property management side of things. It’s easy to forget that behind every property is a tenant, and keeping those tenants happy and the properties in good shape is key to long-term success.
Building a Strong Property Management Team
One of the challenges I’ve faced lately is building a solid property management team. As my portfolio grows, I’ve realized I need a team that’s organized, driven, and knows how to communicate effectively with tenants. I’ve gone through several team members recently, and it’s become clear that this is an area where I need to do some research and find the right people.
At this point, I’m managing over 100 rental units. And while some might outsource property management, I prefer to keep it in-house. This allows me to maintain control and profitability, but it also means I need the right people in place to handle day-to-day operations. So that’s where my focus is right now—building a team that can help me scale the business without sacrificing the quality of service we provide to our tenants.
A Surge in Consulting Demand
While my real estate acquisitions have slowed down, my consulting business has been booming. People are reaching out left and right, wanting to know how to get started in real estate or how to build a rental portfolio. I offer one-on-one coaching and host a masterclass for those who want to take their first steps in the business.
We’re also planning our first live event later this year, provided it’s safe to do so with COVID-19 restrictions. Consulting is something I really enjoy because it allows me to share the lessons I’ve learned over the years. I keep my groups small so I can give personalized attention, but I’m excited to grow this side of the business in the coming months.
What’s Next for Grab the Map?
As I think about the future, I find myself at a bit of a crossroads. Managing over 100 rental units has been a great achievement, but I’m now asking myself—what’s next? Do I want to 10x the business and grow to 1,000 doors by raising private money and scaling quickly? Or should I focus on more strategic, long-term investments, like getting into larger multifamily properties?
Right now, most of my portfolio consists of single-family homes, but I’ve got some multifamily units too. The question I’m asking myself is, do I want to build new multifamily units or buy older properties and rehab them? There are pros and cons to each, and this is something I’m really thinking about as I plan for the future.
And of course, while I’m planning for the business, I’m also thinking about my family. My kids are six and eight years old, and being present for them is the most important thing in my life. So whatever direction I take the business, it has to allow me to spend time with them and be the dad they need.
Final Thoughts: The Power of Reflection
At the end of the day, this period of reflection has been crucial for me. It’s easy to get caught up in the hustle of real estate, always chasing the next deal, but sometimes you need to slow down and think. Where is your business right now? Where do you want it to go? Are you building something sustainable?
I encourage you to take the time to reflect on your own business. Whether you’re just starting out or you’ve been in the game for a while, it’s important to pause and evaluate your next move.
Here at Grab the Map, we don’t just look at real estate opportunities—we grab them. But sometimes, slowing down is the best way to prepare for the next big leap.