Every real estate business owner knows that in order to grow a business, you need a high-performing team of competent people that you can trust. Therefore, to achieve your business goals, choosing the right people and getting the right team together is key. So, what does it take to build a strong company structure and create the right team?
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We continue our conversation with Tate Siemer today. In this second episode of our 3-part interview, he talks about the importance of building the right team and forming key partnerships in managing and growing their business. He highlights how having a clear company vision helps set the criteria for choosing the right people and partners that will steer the company forward. If you’re on the path to growing your RE business, listen now and gain insights on how to get the right team together and structure your company for success. Click now.
Key Points From This Episode:
- Tate’s criteria for finding and establishing business relationships.
- Why Tate recommends partnerships on a deal-by-deal basis.
- What’s a crucial factor that you can leverage to start a partner relationship?
- Tate’s company’s current structure and how the team was formed.
- Why writing the company’s vivid vision has been a game changer for the team.
- The biggest challenge that the company faced.
- Lessons learned from their biggest mistake.
- Why it’s crucial to manage your property management team.
- Tate’s contact details.
“Go out and start making those partner connections. Find people that want to do deals, particularly high-net-worth individuals that may want to sponsor a deal.”
“I don’t recommend “getting married” to a partner in the sense that you’re doing every deal together, you’re doing all the marketing together, all that stuff.”
“If you’re always in the mindset of the long game, like this is a long relationship, whether or not this particular deal gets done isn’t nearly as important as whether or not this relationship gets started and off on a good foot.”
“The biggest challenge that we faced is dealing with the implications of owning and managing out of state.”
“These (mistakes) help you count your blessings when things aren’t going well and make you really appreciate who you do have in your corner now that you didn’t have before.”
Links Mentioned in Today’s Episode:
About Tate Siemer
Tate Siemer is the visionary and CEO of GreenLight Equity Group, which currently owns 595 units totaling $49.5M in value in Oklahoma City and Columbus, OH. Tate’s passion is improving apartment buildings in such a way that maximizes the value of the community. In order to provide solid, consistent returns to investors and well-being to residents, Tate, and the team operate clean, safe, progressive communities that promote a thriving living environment. Tate hosts “The Apartment Guys Podcast” and serves on the Executive Board of the Utah Real Estate Investor Association. He enjoys helping fellow investors and entrepreneurs through mentoring and coaching. Tate’s other passions include big-mountain skiing and mountain biking, music, and hiking with his dog, Joey.
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