When it comes to talent selection, it’s not just always about hiring more people. Rather, organizing tasks to keep them aware of what they’re good at and what energizes them is more crucial. In today’s episode, our guest Jimmy Edwards talks about the importance of having the right people in the right seats in your business. He shares his journey of how he found his way into the real estate industry and multifamily market.
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He also discusses with us his hiring process and how he ensures that he’s hiring the right people for his team and how he itemizes people’s strengths and weaknesses to understand who is best suited for what role. Tune in now and learn more about what made Jimmy successful and how he delegates tasks the right way!
Key Points From This Episode:
- Jimmy shares how he got into real estate, his hiring process and how he finds the right talent.
- The current scaling of Jimmy’s business.
- The importance of having the right person in the right seat, as well as Jimmy’s transition from being in the wrong seat to learning what the right seat was.
- The process of ensuring the team is in the right place and how Jimmy thinks through their strengths and weaknesses.
- How did Jimmy approach his team members?
- How to know if there’s a person better suited for a certain role.
- The way Jimmy is preparing for the next recession or a downturn and how to ensure they’re prepared for the next deal.
- Jimmy’s best source for meeting new investors.
- The most important metrics that Jimmy tracks both personally and professionally.
“We had a bunch of deals under contract that kind of fell apart, everything’s kind of happens for a reason, I believe… and then you figure it out and you look back you’re like awesome.” – Jimmy Edwards
“I have a few deals under management right now which allows me to reorganize, restructure and systemize the business so that throughout the next expansion, we can buy 10,000 doors.” – Jimmy Edwards
“I know I’m headed in the right direction when immediately my personal energy changes. I know I have the right idea because I get energized and all the weight falls off.” – Jimmy Edwards
“Hopefully, we’ve been successful at systemizing and organizing, getting people in the right seats so that we can scale through the next expansion.” – Jimmy Edwards
“I’m just trying to get back to my team, empower them, let them, get them happy, get through some of these things so that we can keep scaling.” – Jimmy Edwards
“Sometimes you miss things because you’re solving a small problem along the way, but you don’t realize that you took a misstep until it starts clogging up the wheel.” – Jimmy Edwards
Links Mentioned in Today’s Episode:
About Jimmy Edwards
Jimmy Edwards is the Founder of High Five Multifamily, a real estate solutions company that focuses on the acquisition and revitalization of distressed and value-add multifamily investment property. Since 2017, High Five Multifamily has bought and sold 868 units and is currently looking for opportunities in the DFW and San Antonio areas.
Jimmy has been an investor since 2011 in both single-family and multifamily properties, has bought and sold over 100 single-family houses, and has purchased six apartment complexes.
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