When should you start hiring your first team member? What’s too early, and what’s not? What kind of person should you be looking for? Bill Allen, the owner of BlackJack Real Estate and visionary leader of the 7 Figure Altitude mastermind, shows you how he did it.

These tips are from the sixth episode of the Real Estate JAM. In that episode, Bill Allen talks about how he (almost!) lost $185K from a deal, knowing when to start hiring, and the things you need to know when building a team. If you’re interested, you can listen to it on YouTube, Spotify, or Apple Podcasts.

Why Hire in the First Place?
During the podcast, Bill talks about how he learned to do things in real estate in the DIY-fashion. He even shared this one time that he and his wife finished an entire 1000-square foot basement all by themselves! In the beginning, he was solely focused on getting one or two houses done within a year. However, when he joined a couple of conferences, he met other investors who were doing 150 houses a year!

Seeing the sheer differences between him and those bigshots, he wondered how they could deal with such a high number of properties. Then, he started receiving several emails from various people for wholesale deals they were trying to sell! “Who sends these?” Bill asked. They were from his acquaintances’ teams. No wonder they could do more than a few houses a year! That’s where Bill started to inch his way towards seven figures.

Don’t worry, you don’t have to build a team just yet. If you’re looking to start taking things to the next level, focus on nailing that first hire.

Your First Hire Always Depends on You
Let’s keep this simple – hire the person that’s right for you now. When you’re starting out, you’re not supposed to be looking around for the best of best, but rather the person who’s a good fit at this moment in time.

Bill shared an example in the show about his first hire. Back when he still had a full-time job while exploring the real estate, he wasn’t as efficient with marketing as he wanted since he couldn’t take calls during his busy weeks. So, he set out and tried to find someone who could catch all the calls coming his way. Simple as that. Instead of being overloaded with tasks after the busy week, Bill could come back with a significant chunk of the work completed already. Imagine how many more calls would have been missed had he continued doing things alone!

Having someone deal with your other tasks also means that you’d have more bandwidth to allocate to more important things. Bill says that it might be good to quantify or estimate the “per hour” value of your daily tasks and see if it makes sense to hire someone to do them for you.

Want to learn more? Listen to the full episode on YouTube, Spotify, or Apple Podcasts.

About Bill Allen:
It is my passion to serve, lead, and give. I want to help other house flippers, wholesalers, and entrepreneurs, grow their businesses and achieve personal and financial freedom through REI!

I believe that if you create financial freedom for you and your family, you will be able to do so much more with your life. It starts by getting around the right people and making sure you have the right TRIBE! That’s what 7 Figure Flipping is for flippers and wholesalers!

I am a Naval Officer with 18 years of military experience. I enjoy leading others and helping them find their own success. I believe that you only grow by surrounding yourself with those that will hold you accountable and push you to get uncomfortable. Your network is your net worth!

I am the owner and CEO of the 7 Figure Flipping Mastermind Group which includes 7 Figure Altitude and 7 Figure Runway.

Outline of the Episode:
[02:46] From losing $185,000 on his first deal to being able to flip over 150 houses, Bill Allen shares his story and what he’s all about.
[07:25] Using your past experiences to fuel what you’re going to do in the future.
[13:45] How does Bill seeing his grandmother before her death relate to real estate? Life is not all sunshine and rainbows!
[17:33] Learning to do the work yourself and understanding the monetary value of each little task.
[26:16] The first person you want to hire depends on your style and personality.
[31:40] When should you consider hiring in the first place?
[33:46] Building a team consists of finding the right fit at each pivotal moment of your business. They might not stay forever, as long as you can help each other out.
[38:18] Starting to grow a small business takes a lot of trust. Treat your people as a team, not as a family. Why?
[42:02] One of the fundamentals of business is taking care of your people.

Resources Mentioned in the Episode:
BlackJack Real Estate
7 Figure Flipping
7 Figure Flipping Podcast
7 Figure Altitude
7 Figure Runway
7 Figure Flipping Facebook Page
Instagram
YouTube
Flip Hacking Live
DISC Personality Assessment

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Email: jd@shorefront-investments.com or info@shorefront-investments.com