When running a business, it is important to set your short-term and long-term plans. Because by doing so, it will guide you as an entrepreneur on what path to take and what actions need to be done to achieve those goals. For real estate investor Chris Grenzig, he set a 10-year vision of having a $500 million asset under management. In this episode, Chris, owner of JAG Communities, details his plans to achieve his 10-year vision through vertical integration of his real estate business.
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Chris shares his thought process in building a vertically integrated business to help him grow his revenue. Chris also says being vertically integrated allows you to bring more revenue and have more staff. He also emphasizes the importance of having more staff because it allows you to do more and to have more control in your business. He says having control in your real estate business is undervalued. Click the play button now and find out if vertical integration will also work for your business!
Key Points From This Episode:
- Chris shares his background and his focus on real estate right now.
- Chris talks about setting a 10-year vision of achieving $500M assets under management.
- Chris shares the pushbacks he encountered in his real estate journey.
- What are the thought processes behind Chirs being vertically integrated?
- The importance of having more staff — it allows you to do more and to have more control.
- Chris says having control in your business is undervalued.
- Chirs talks about the difference in lending between large and small deals.
- How did Chris scale his team?
- Chris shares how to know when to keep your team members.
- Who is Chris’ next hire?
- How does Chris prepare for a downturn — looking out for scenarios.
- Chris’ predictions in the real estate market over the next six to twelve months.
- The daily habit that helps Chirs achieve success — time blocking.
- Chirs’ best source in meeting new investors right now — social media and online networking.
- How does Chris like to give back?
“I think the large part of the knowledge I was missing was actually from not being on-site, day in and day out.” [0:05:23]
“Being vertically integrated allows you to bring more revenue through property management fees and other stuff which allows you to support more staff.” [0:07:52]
“For me, it (having more staff) is never about making more money, it is about having more staff which allows you to do more, which allows you to have more control.” [0:08:10]
“Control is undervalued.” [0:08:20]
Links Mentioned in Today’s Episode:
About Chris Grenzig
Chris started real estate in January 2016 by trying and failing at house flipping and purchasing tax deeds, but eventually found his footing in multifamily real estate. From 2016-2020, he joint ventured on 100 units and worked as the director of the Florida portfolio for Toro Real Estate Partners which acquired 4000 units worth $300m during his time there. In November 2020, Chris left Toro to start his own company JAG Communities, based in Jacksonville, FL which is an owner-operator focused on multifamily real estate with 40 units worth $3m currently owned and a 10-year vision to scale to $500 million in assets under management.
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