When starting out in real estate, it can all feel very overwhelming with so much new information to take on board. While it is important to learn as much as possible, it is crucial to remain focused and not get continually chase shiny objects. This is where strategy comes in. Getting clear on your goals and taking actionable steps to get to them is a surefire way to scale your business successfully. Joining us today to talk about his approach to business growth is Charles Carillo.
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As someone with over 10 years of industry experience, Charles has gained many lessons about scaling, and he shares those learnings with us. We discuss the importance of reverse engineering your goals, and how you can ensure you have daily tasks to get you to where you ultimately need to be. Charles also talks about his use of virtual assistants and how they have helped his growth. Understandably, training people can be frustrating, but Charles encourages us to stick with it because of how great the rewards are. By getting those low-level tasks off your plate, you are then in a position to work on those high-ticket items. Along with this, we unpack partnerships and finding the right people to work with, putting yourself out there, and creative ways to meet new investors. For all this and more, be sure to tune in today!
Key Points From This Episode:
- Get to know Charles and his real estate journey so far.
- The lessons that Charles learned from self-managing his property.
- Some of the things Charles would have done differently looking back.
- Small, daily actionable steps to take to work towards your goal.
- Getting low-level tasks off your plate and how Charles has used VAs for this.
- Staying top of mind and how this helps you find people to partner with.
- Charles’ tips for training VAs and employees properly.
- How Charles has been able to successfully scale his business.
- When Charles realized the importance of partners and finding people with complementary skill sets.
- Advice on finding good partners that you want to work with.
- The hardest part of syndication, Charles’ preparation for the downturn, and recent business improvement.
- Charles’ best way of meeting new investors, the biggest contributor to his success, and giving back.
[bctt tweet=”I was reading somewhere that for every hour you want to outsource, you got to really spend 30 hours to outsource that task correctly. — @CharlesKCarillo” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Charles Carillo
Charles Carillo is a licensed Florida real estate professional, an Eagle Scout, and first became a multifamily real estate investor in 2006. He is originally from a small town in Connecticut and moved to Florida in 2012. While he was growing up, his father owned dozens of commercial and multifamily properties that he self-managed with a small team. This experience was priceless in shaping Charles’ future business and real estate investing career. During college, he started an online payment business which took him to dozens of countries in Europe and Asia to meet partners and clients, forging his passion for traveling. He ran his online business full-time until 2016 when he decided to switch his focus to his real estate investing company. It forced him to hire assistants and start delegating tasks for both businesses. This transformed both companies by freeing up valuable time that could now be used for “high value” activities. Unlike other real estate investors that take a “hands-off” approach to property management, he self-managed his properties for years before hiring his first professional management company. During that time, he learned the intricacies of dealing with tenants, contractors, superintendents, brokers, lenders, and attorneys. He purchased and renovated multifamily properties; some completely vacant, and turned them into profitable investments that he still owns today. In 2016, Charles founded Harborside Partners, a real estate syndication company that offers other active investors and passive investors alike, the ability to partner with us and purchase larger, more profitable assets. Currently, we are invested in over 250 units, worth over $25 million. We have designed an easy to navigate website that delivers volumes of free education along with a blog that features educational articles and the latest real estate news. Additionally, Charles hosts a real estate investing podcast called Global Investors Podcast. After years of traveling the world for work, he realized that many foreign investors were interested in investing in U.S real estate but did not know how to go about it. His podcast focuses on international investors looking to invest in cash flowing U.S real estate and features detailed essential information in interview format from attorneys, active investors, passive investors, syndicators, bankers, eb-5 professionals, etc. who work with international investors.
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