Dorgan, Dorgan Josh, Maui Properties discussed on BiggerPockets Real Estate Podcast
Host idea. Because josh to that for years back when i was in your chair. And he said it. That's why we say this bypass yeah. This is the bigger. That's how he did it. But where does the one finger come from. I was jewish. He wanted us subliminally. Whatever no no joke. Where heads now is you see josh. You think winner and you can't think anything else well done well done dorgan josh. Well-done dorgan nicknamed him. Yeah all right. Well done dorgan Today's show is part two of our series on building a team. We talked about being a solo entrepreneur. A sola poor in other words. You're a small time investor. You got your first property. Second property fifth property maybe single-family maybe some small multi. You're doing most of the stuff yourself. Maybe you're hiring a property manager. Maybe it's long distance but it's smaller deals were most people are at right now and i with for a long time in in in some regards still there in something so like i'm a smaller investor when it comes to like maui properties now but then larger woman comes opener capital And so today's he's going to focus more on the scaling entrepreneur versus the solar entrepreneur l. s. for y'all air so what does scaling entrepreneur mean david so basically when you start with four four you are doing a job and then you are finding four additional people making it a total of five so we cover the four people you need on the team but we didn't actually talk about what you're doing and you're the biggest piece in the whole thing right there for people at support you when you scale it as something bigger. We're going to take your job or going to divide that into five pieces so there's five when your solar preneurs and then there's five when you're scaling so we have the core for so we're going to call this divide five invited five divided five it. That's what we're going with. A divided five is is what we're going to go with here if you got anything. Better than divided five and please let us know. But it's like the five roles that you play play when you're doing small deals and you all know this we're gonna cover today. I can just say they are a quick but then as we get into the larger deals you're going to find people to run those were gonna divide into five pieces so the five are you have to have somebody in the in in the beginning might all be used so don't get stuck today thinking. Oh they're talking about hiring employees so number one you have to have somebody generating leads and bringing the lead flow ends. We'll call that a lead gen person number two. You have to have an underwriter. Or an analyzer. Somebody who's making sure the numbers work right and that you know how it's off on it then you have the money raiser the the guy who are gal who's raising all the capital for it again beginning. That might be you They're working bank. You know bay financing raising money all that then you have an asset manager or maybe a property manager asset manager. Kind of a bigger word. We'll talk about the difference here. A little bit And then you have kinda finance bookkeeper type role so those are of the five role that you play and now there is a sixth roll here that basically means the person who puts it all together right i. I like to call it a co or ceo. That's probably no matter. What but maybe you're going to be a piece of this on another team. For example it opened our capital. I'm not really any of these roles. I actually have a full-time person on every one of these In fact some multiple on each one. But i'm kind of like this aggregate or maybe like the person that makes sure that each part is working correctly on mechanic but the the pieces are in them the engine working so anyway. These five areas today again lead gen underwriter money raiser or investor relations a asset manager and the finance side of things. And so that's what today's show is all about. But so those five pieces are like your five avengers and the aggregate or is like being nick fury. You brought the team together. That's pretty good. I like that. I was gonna go with captain. Planet earth wind fire water when our rings was unite. They've formed captain planet. He's a hero right so like they come together. But that's actually. I like your example. Better nick fury 'cause he brings them together. It's like yeah. It's less egotistical than saying. I'm captain planet and their rings. Make me although i give you credit for bringing captain planet. Thank you or podcast podcast. Actually that's a funny idea. Do you ever seen those like take videos or youtube clue because we're like celebrities have to try to put a certain word into a into a whether it's a radio. Dj has to say a certain word in their thing anyway. It's like a thing right actually. Did that as police officers did you come up with a word super troopers. Did that with where we got it from. Something ridiculous radio transmitter that we would come up with just like like seven syllable words that there's no reason would ever have to be done in whoever said it would be like a free dinner that day. Yeah i'm thinking we might have to put that into a future episode of the podcast Anyway so have you ever hear say a completely natural planet. We're on a pretty good start. We are high before we get into that that we got a couple of housekeeping things to do. I one being today's quit. I mentioned this a few weeks ago. But i'll say it again now Bigger pockets now. If you're a pro member you have access to something very cool. David and i did together. We sat here and my shed recorded for almost four hours. A video series on no in loma down investing. So if you are a big pockets pro member you have access to that so to get access to that. Go to your profile And go to the upper right corner. It says little face up there in the upper right hand corner jonathan promotions. I should know this. But i don't know exactly. I think he's just promotions. Go in there and you're gonna probably find it in there. If you have any trouble you email support a bigger pockets dot com but it should be there Again that is a known looney down kind of masterclass david. An idea and it was awesome so badly i think this is the best content. You and i have at least will do. Yeah i think when we were making it. It was like just that feeling when you're in the zone. Yeah can't miss. Yeah so four hours felt like an hour and then you break it apart. It's is it broke up into little videos but yeah on wpro member you just scored. Yeah check that out if you're not a prime member And i think it's only pro annual actually so if you're not a pro annual member i don't think you have access to it but Something to think about the future all right next. let's get today's show sponsors. Everyone wants them side income. Maybe you're trying to stop an emergency fund save for new property or just want some extra cash every month. Well if you have a car and the turtle app you may be sitting on the side income. You always dreamed of the largest car-sharing marketplace empowered entrepreneurs of all sizes to start and scale is small business earning up to ten thousand bucks annually per car in the us with some hosts polling six figures sharing multiple cars turtle provides an easy to use platform and mobile app protection for vehicle damages insurance from liberty mutual and demand generation to help feel your business. Not even kidding. Fifteen minutes ago. I bought the car so like this stuff. 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