The FORT Podcast: RE Private Equity – Stay Small or Grow a Platform?
When starting a career in RE Private Equity, should you stay small or grow a platform? On this episode, Chris answers that question as he walks through the process of growing a real estate company from a one-man band to 25+ people. He explains how your role changes as you do more deals, why hiring is inevitable, the challenges of hiring the right people, implementing processes and operations, and more.
(01:27) – When You’re in the Early Stages of a Small Business (1-2 People)
(04:03) – Finding and Setting Up Your HQ
(04:41) – Determining the Future of Your Company
(05:13) – Option 1: Doing 1-2 Deals Per Year
Accounting Software – Quickbooks
(13:04) – What happens after closing your first deal and you’re looking for your next deal?
(14:52) – How will your role change as your company grows?
(15:39) – “Doubling” Your Business After Year 1
(17:20) – Hiring a Commercial Loan Assistant
(19:11) – Challenges in Hiring Someone
(22:08) – Hiring Asset Managers in Year 3
(24:01) – Creating Processes
(25:58) – Increasing Your Prices and Preserving Fee Streams
(29:09) – Making the Leap from 5-6 People to 25 people
(37:31) – Wrap Up
The FORT with Chris Powers is produced by Straight Up Podcasts