Jan 25, 2021
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. Enjoy!
Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com
Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital/
Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
(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
(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
The FORT with Chris Powers is produced by Straight Up Podcasts