WHY I DON'T HAVE AN ACQUISITION MANAGER ANYMOREMay 22, 2018
If you’re on my email list, there’s a decent chance you’ve read my book “Fire Yourself”.
It’s sold over 1,000 copies and helped a lot of real estate businesses.
I’m known by some as the “Acquisition Manager” guy.
“Call Brian when you need help hiring an Acquisition Manager” or “Read his book!”
A lot of people are surprised to hear that I don’t even HAVE an Acquisition Manager anymore….
(What a fraud!)
Back in the heyday of flipping/wholesaling 100+ deals a year, I had several AM’s at a time. It was required to support the level of volume we were trying to do, and the amount of leads we were generating, spending thousands per week on marketing.
A lot of you know that, last year, I stopped actively wholesaling and flipping houses for profits.
My business partner and I split up and we went our separate ways.
A big reason it happened was because the business we had was not gratifying. It was not making me happy.
Don’t get me wrong, I was (and still am) very grateful that I got to make good money working for myself (and working 100% virtually, from the computer).
But at the end of the day, that business just had me tied to the computer and the phone all day.
Managing 10 employees is a LOT of work.
Being the CEO (and having everything else automated) isn’t as cushy as a lot of people think it will be.
Flipping/wholesaling wasn’t giving me the lifestyle I was after, bottom line.
Another thing I realized last year (during the breakup of the business) is that rental properties WERE giving me the day-to-day freedom that I had been seeking all along.
That IS a business that you can make at least 98% passive, and that makes you money while you sleep, predictably.
So that’s why I decided to do only two things moving forward:
1. Grow my rental portfolio (which was already at around 30 single family houses), and
2. Teach other people how to do it, so they can have control over their time as well
Because I only focus on those two things now, I don’t NEED a big team. I don’t need tons of leads, marketing, sales guys, etc.
In fact, it probably only costs me about $100/week for payroll now (for part of an office manager’s time to run the rental portfolio)
The other positions (property manager, project manager, contractor, inspector, etc) are all on an as-needed or contractor-like basis, so I only pay when I get something done.
They aren’t in-house employees EITHER.
So if you read my book and are now of the belief that having an Acquisition Manager is a MUST for any real estate investing business, I’m here to tell you that it is NOT.
It is an optional piece that can dramatically ramp up your volume, IF that is what you desire.
IF you desire the lifestyle that running a high volume flipping business will create.
They key is to always start with lifestyle, and work backwards from there.
What do you want to be doing all day?
Don’t EVER base your decisions off of what other people are doing in your market, or what you hear some dude say he’s doing at a mastermind group, or any of that bull.
What do YOU want?
For me, I want the freedom to go skateboarding at 11am on a Tuesday if I want.
To do a 2 hour workout at the gym on a Monday morning from 9-11am.
To take a few days off and go to Tulum, like I just did last week!
If you’re interested in having a conversation about this, about how to restructure your business to deliver the outcome you REALLY want, use the link below.
Look forward to chatting with you!