How to Scale Your Real Estate Business – Weekly Podcast Recommendation

Posted on by

I wanted to start a weekly series where every Monday I give a podcast recommendation. The podcast recommendation will be related to anything I find valuable for real estate investors. Topics will range from real estate investing strategies, how to build a real estate business, outlook on the current real estate market, etc. Each recommendation will have a brief overview of the podcast’s main topics, important things I learned, and who will get the most out of listening.

The Best Ever Real Estate Investing Advice Podcast with Joe Fairless Episode 1159

This week’s podcast recommendation is on Joe Fairless’ Best Ever Real Estate Investing Podcast episode 1159. Joe has guest Jefferson Lilly on the podcast, co-founder of Park Street Partners. Park St. Partners at the time of the episode, had over 18 mobile home parks with a value of over $30mm.

Main Topics of Episode

Even though Jefferson invests in mobile home parks, they didn’t talk about the asset’s characteristics at all. They covered how to scale your real estate business from being an individual investor to building a business with efficient systems. I really enjoyed the knowledge Jefferson brings in regards to who should you hire first, when do you know it is time to bring employees on, and how to divide everyone’s roles.

  • Learned how Jefferson brought on an asset manager, CFO, and acquisition analyst
  • Asset Manager has a base salary and around 25% in bonus compensation depending on if they meet properties NOI goals. Total earned is around $100k.
  • Acquisition analyst has a base salary and around a 75% in bonus compensation depending on how many deals they source/performance. Total earned is around $100k.
  • It was time to bring on employees when Park Street Partners had around 500-1000 mobile home pads.
  • How he uses systems inside his business. Systems like Asana Checklist, avid pay and rent manager for asset management.
  • How hiring employees helps him focus on what he is good at

Who Should Listen?

I think this is a perfect podcast if you are currently wanting to focus on how to scale your real estate business. Also, if you are trying to figure out what your next steps should be. If you want to eventually reach a point where you need to expand your real estate business and hire employees, then this is a must-listen.

 

Check out Jefferson’s Podcast- Mobile Home Park Investors