Although it is possible to manage your real estate business on your own, it surely more beneficial if you have a support system as you embark on the field. Building a team will enable you to grow your business. In this Highlights episode, we look back at our conversations with three respected real estate entrepreneurs namely – Liz Faircloth of the DeRosa Group, Vinney Chopra of Moneil Investment Group LLC, and Neal Bawa of Grocapitus.
How to Start Investing in Multifamily Real Estate
If you’re interested in multifamily real estate but don’t know where to begin, our guide “How to Start Investing in Multifamily Real Estate” breaks down everything you need to know about identifying good investments plus real world examples. Download your copy in the show notes or visit lifebridgecapital.com/startnow to start your journey in multifamily real estate.
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Today, we turn our focus on how you can successfully build your team and find the right people that will help you scale your business. Liz talks about the players you need in your syndication team. Vinney emphasizes looking for team members who are like-minded people with integrity and trustworthiness. And, Neil reveals an effective way on how you can hire remote staff and choose the best Virtual Assistant there is. Click the play button now and discover how you can build the best team for your real estate business!
Key Points From This Episode:
- Liz details who should an investor be partnering with when growing his team.
- Vinney talks about the most important things to remember when building your team in real estate. These include questions like where to start and which team member is the most important.
- Vinney emphasizes the importance of getting team members together.
- Neal reveals how he hires Virtual Assistants (VAs) and helps them evolve into Executive Assistants.
- The best platform for hiring Virtual Assistants.
- How to search and hire the best freelancers on Upwork?
“My personal opinion is that it’s hard to grow from zero to twenty members of a team. You should grow organically and start to say, “What am I good at? I’m doing all this but where can I maybe partner or work with someone on this? Because this is needed and I’m just not A-plus at it.” – Liz Faircloth
“You might have a real estate experience, but building a business is different than real estate.” – Liz Faircloth
“Please look for a like-minded person with integrity, with trustworthiness, with their goals, and where they are going.” – Vinney Chopra
“You are looking for a partner who’s going to release, go side by side with you to build this business together. One team member that we all need is a partner. It’s not a solo game. Please do not try to do it by yourself because you will get discouraged.” – Vinney Chopra
“The thing is you want to become a student of this profession. You can’t just start overnight success. You’ve got to have a member in the team.” – Vinney Chopra
“You’ve got to start with the right foundation. You’ve got to have the very best VAs (virtual assistants) in the world.” – Neal Bawa
Links Mentioned in Today’s Episode:
About Liz Faircloth
Liz Faircloth grew up in a small town right outside of Flemington, New Jersey. She graduated from Rowan University with a degree in Psychology and went on to get her Masters’ Degree in Social Work from the University of Pennsylvania. While attending the University of Pennsylvania, she took some classes at the Wharton School of Business, and her interest in entrepreneurship and investing was born.
Liz began her investing career (along with her then fiancé) with the purchase of a duplex with a $30,000 loan outside of Philadelphia. After selling this duplex and moving to New Jersey, she co-founded the DeRosa Group in 2005 with her husband, Matt. The DeRosa Group, based in Trenton, NJ, is an owner of commercial and residential property with a mission to “transform lives through real estate.” DeRosa has vast experience in bringing properties to their highest and best use, which includes repositioning single-family homes, multi-family, apartment buildings, mixed-use, retail, and office space. The company controls close to 400 units of residential and commercial assets throughout the east coast.
While helping grow DeRosa’s portfolio, Liz had a career for many years where she worked with Fortune 500 companies to develop team and talent development programs. Liz has facilitated hundreds of workshops for universities, business conferences, and executive-level training.
As a chief advisor with DeRosa, she has helped build their portfolio to owning and managing apartment buildings, multifamily, mixed-use buildings, and commercial buildings throughout the East Coast. Currently, Liz assists with both the strategic vision of the company and runs DeRosa’s marketing and communications. Liz is the proud founder of the DeRosa Gives initiative.
Liz is also the host of “The Real Estate InvestHER Show,” a podcast providing straight talk along with inspiration for existing and aspiring women investors to live both balanced and financially free lives.
Liz has been interviewed for many articles and top-rated podcasts, including being a two-time guest on the top-rated BiggerPockets Podcast. On the personal side, Liz is an avid runner, has completed several triathlons and marathons, has two adorable children, and is a New York Mets fan.
About Vinney Chopra
With a bachelor’s degree in mechanical engineering, he entered The George Washington University to seek a master of business administration degree in marketing and advertising. He sold Bibles and educational books door-to-door to support his studies, excelling both in the classroom and outside because of his work ethic and overwhelmingly positive attitude.
There’s a reason Vinney’s nickname is “Mr. Smiles,” which is evident even through just hearing the demeanor in his voice! He has always believed in individuals’ ability to shape the world around them through positive thought and selfless actions, and he has been a passionate motivational speaker and teacher for over three decades. After getting a taste of sales and marketing while pursuing his MBA, Vinney decided to leave engineering altogether and become a motivational speaker and fundraiser. He worked tirelessly to build a clientele that would work with him annually to raise the funds to meet their goals and dreams.
About Neal Bawa
Neal Bawa is CEO / Founder at Grocapitus, a commercial real estate investment company. Neal sources negotiate and acquire Commercial properties across the U.S., for 230+ investors. Current portfolio over 1500 units/beds, projected to be at 2500 in 12 months. The portfolio includes Multifamily and student housing properties in 7 U.S. states.
Neal also serves as CEO at MultifamilyU, an apartment investing education company. He speaks at events & meetups across the country. Nearly 4,000 students attend his multifamily seminar series each year and hundreds attend his Magic of Multifamily boot camps. Thousands hear his podcasts and he has been featured in over a dozen podcasts and radio shows. His management techniques and revenue optimization techniques for Multifamily are considered unique in the industry.
Neal is the co-founder of the largest Multifamily Investing Meetup network in the U.S. (BAMF), a group of investors that has over 4000 members. He has taught the Fundamentals of Multifamily investing, Real Estate trends, and deal analysis to 3000+ students, including investors from three different IRA companies. He raises over $14 Million a year for his projects.
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