Expected Air Date: 06/23/18
We are going to talk about business leadership. For most people Real Estate Investing is a Team Sport. You may not have any employees or if you do they won’t be a large number. This is in part by design. We got into this business to get away from the inherently stifling nature of the corporate world. We didn’t set out to create another corporate world. We are entrepreneurs. We want to come and go as we please.
We want to go to the beach with our spouses and family on Thursday through Sunday. Ok, we want to fly to the Caribbean Thursday and come back Sunday. Or we want to take off and play a couple of golf courses in Alabama on the Robert Trent Jones Golf Trail on a Tuesday and a Wednesday. Whatever you wanted to do with the time, you mainly want it flexible, so we don’t have much in the way of a staff do we?
Even though this is true, we STILL have a team. By the time you are working this business full time, you have assembled a team whether you want to admit it or not. You have a Realtor or three, a couple of general contractors, probably several handymen, plumbers, and electricians on speed dial, you are getting to know a real estate attorney, you have wholesalers, birddogs, VA’s and possibly even an employee or two. You have a team.
Your team won’t all be employees but like any team, it needs to be recruited, managed, and maintained with excellence. And this is where today’s guest shines. Jeffrey Davidson is a master team builder, consultant, and all-around helpful guy. He knows some things about real estate investing too, but his focus day in and day out is helping business leaders lead more effectively.
Stay tuned because in just a few moments, he’s going to lay some wisdom on us all. I’ll be asking him for leadership tips and hiring expertise. His company is called Leading Great Teams. He will be along in just a few moments.
How to Reach us
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Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
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- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
Guest: Jeffrey Davidson, Building Great Teams
Notes from the Interview
Three free giveaways
Top Tips for Leaders:
Answer the question: How do we define success?
Set clear expectations.
Language is a big issue. 2 examples:
- What can you build on?
- Where should we re-focus?
Tips for hiring
- Find out what they value
- Learn their key skills
- Try them out
Tips for employees
- Do you know our company mission?
- Do you talk to each other?
- Do we have the right tools?
- Do we have the best processes?
- Are we interacting as a team?
- Are we working together to make this organization as good as possible?
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Emails: Questions@flippingamericaradio.com Tell us where you’re from!
- Carmen, Tampa, FL “I want to put money into one of your deals, but you never talk about how to do that. How do I do that?
- Fred, Brooklyn, NY “Can you explain the concept of remote flipping? I would very much prefer to be flipping houses in more affordable areas.”
- Carlie, Madison, WI “I have a private lender who wants 15% with no upfront money. He will fund the entire thing. I have a hard money lender who will loan me 85% of my project cost at a rate of 12% but I have to pay 2 points and make a huge down payment. I’m trying to figure out which is the better way to go but I’m stuck. I’m buying the house for 280k. I think I’ll sell it for 420 when it’s repaired. The rehab budget is $35,000.
Motivational Thoughts for the day
- “If you cannot do great things, do small things in a great way.” Napoleon Hill