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.

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(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


Episode Summary

Initiating the podcast, the discourse delves into the foundational aspects of starting and managing a real estate business, exploring the logistical, financial, and operational facets pivotal for initiating a venture in the sector. The dialogue likely navigates through the prerequisites and initial steps, providing listeners with a fundamental understanding and a pragmatic perspective into the economic and operational dynamics essential for establishing a venture in the real estate sector. The insights, while rooted in practicality, also offer a strategic view into initiating a venture, providing listeners with a comprehensive guide into the initial steps and considerations essential for starting a real estate business.

Transitioning into a detailed exploration of the financial and operational considerations of operating a real estate business, the dialogue explores the intricacies of cost management, investment, and operational logistics in establishing and running a venture. The conversation, while exploring the complexities of financial and operational management, also provides a strategic view into managing costs, investments, and operations, offering listeners a nuanced perspective into the economic and operational considerations of running a real estate business.

The podcast further explores the due diligence processes, negotiations, and financial considerations integral to real estate deals, providing listeners with a comprehensive view into the financial, strategic, and negotiation aspects of deal-making. The discourse, while enriched with practical insights, also provides a strategic perspective into exploring and vetting deals, negotiating with sellers, and managing financial interactions with banks and financial institutions, offering a guide that is both strategic and operationally relevant.

As the dialogue explores the evolution of a real estate business, the podcast delves into the aspects of refining processes, managing growth, and strategically navigating through the expansion of the venture. The discourse provides insights into the operational, strategic, and management facets of scaling a real estate business, offering a perspective that explores the complexities and considerations of managing growth and refinement in the sector.

Navigating through the dynamics and shifts in the real estate market, the podcast explores various elements like relocation, market dynamics, and professional influx into various markets. The dialogue, while exploring the dynamics and shifts, also offers strategic perspectives into investment considerations and strategic navigations through the real estate market, providing listeners with a nuanced understanding of navigating through and leveraging the opportunities and challenges within the market.

In the latter segments, the podcast explores themes related to managing and investing in industrial real estate, particularly emphasizing the strategic navigations through diverse markets and the dynamics of the capital markets within the sector.

The FORT with Chris Powers is produced by Straight Up Podcasts

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