MB 242: The Systems to Scale Your Syndication Business – With Jorge Abreu
What is the key to scaling a real estate investing business? Growing your investor database? Raising more and more capital for deals? Putting together and training a capable team? Yes, all of those things are absolutely necessary. And they all require that you build out systems. Systems that allow the business to run on its own.Jorge Abreu is the Cofounder and CEO of Elevate Commercial Investment Group, a Dallas real estate firm focused on the acquisition of value-add multifamily assets. In his 15-year career, Jorge has flipped 200-plus houses, wholesaled another 100 properties and done $8M in ground-up construction. Since his introduction to multifamily four years ago, Jorge has built a portfolio of 1,700 units worth $125M.On this episode of Apartment Building Investing, Jorge joins cohost Garrett Lynch and I to share the challenges of scaling a single family investing business and discuss what inspired his transition to apartment buildings. He weighs in on the value of networking (online and in-person) to forge new partnerships and build a solid team. Listen in for insight on building systems to grow your business and learn why Jorge recommends skipping single family and getting right into multifamily investing!
Key Takeaways
What inspired Jorge’s interest in real estate- Research of successful individuals
- Entrepreneurial role models in family
- Difficult to find reliable contractor for flips
- Creating systems to delegate work
- Network every day, go to every event
- Build team and find partnerships
- Division of roles affords time freedom
- One partner as visionary, one as executor
- Build generational wealth
- Branch out into other companies
- Make sure everyone happy
- Check in re: expectations
- Implement own systems (control)
- More appropriate with scale
- Helped scale single family business
- Confident taking on any heavy lift
- Invest passively to get feel for business
- Market to build database of investors
- Build platform, daily posts on social
- Funnel with email marketing follow up
- Speak to new investors asap
- Strategic messaging to match goals
- Explore new partnerships
- Fine tune system for evaluating deals
- Build out systems early on
- Go straight to large multifamily