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The FORT with Chris Powers

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! 

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(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

Accounting Software - Quickbooks

(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