Today’s episode is extra special. Join Melissa and me as we reminisce about the challenges we overcame during the start of our business. You’d be surprised to hear our fair share of horror stories and how they could still be considered wins. Stay tuned!
The points below are from the 50th episode of The Real Estate JAM, where we discussed all the challenges we faced and overcame.
Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.
Absentee Owners
When you have a business, it’s never a good idea to hire someone and leave everything to them. Being an absentee owner can be the biggest mistake that you make. When you own a business, you need to own it at every step.
Finding the Right Fit
Budgets are significant but finding the right people to fit the roles you have for the business is even more critical. Don’t force two different responsibilities on one person to avoid inefficiency.
Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.
Outline of the Episode:
- [00:48] Welcome to the show! It’s Spirit Sunday for us!
- [01:19] Melissa and I discussed the beginning and all the challenges and obstacles we overcame. What were yours?
- [02:34] A property manager with no integrity + absentee owners is a recipe for disaster.
- [08:21] A partnership born in the fire can withstand anything. Do you agree with this? Have you had any associations that went through the same thing?
- [09:33] Have you ever bought the property sight unseen? This was one of our biggest mistakes.
- [11:37] Who you partner with in real estate matters greatly. It will help if you need to choose people who have the same ideals, goals, and values that you have.
- [12:40] When buying a property, it’s good to check the kind of neighborhood that you are in. We had a knack for picking places with murder, drugs, and the like right next to them! Don’t make the same mistake.
- [17:43] Ever had to burn a bridge? We believe that unless you need to, you shouldn’t burn bridges or post things on social media that are hateful and hurtful.
- [22:35] Reviews on properties are a big deal. It would help if you ensured that your reviews were accurate and true.
- [25:22] What happens when you double-book a short-term rental? What if they threaten to report you? How do you handle this?
- [26:58] When you want to not rent to someone on Airbnb, make sure to call them and not send a message via the app so that it doesn’t mess with your algorithm.
- [28:01] Have you given Rocket Station a try? If you’re on the lookout for competent VAs, Melissa and I recommend them.
- [30:14] It’s essential to identify specific jobs and know which one is the right fit for every person you hire.
Connect with the Real Estate JAM!
- Website
- YouTube
- Shorefront Investments
- Email: jd@shorefront-investments.comor info@shorefront-investments.com
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