Episode 211: Who Makes a Good Acquisition Manager

Mitch Stephen has been a self-employed RE investor for 20+ years. His real estate investing career started at the age of 23 when he read “Nothing Down” by Robert Allen.

REAL ESTATE INVESTOR: Mitch, together with his wife, Tommi, and his daughter, Shannon purchased their fair share of local houses. Their company, Independence Day, Inc., has bought and sold over 1,500 properties in and about San Antonio, Tx since 1996. This company specializes in buying distressed properties with OPM and the selling of those owner financed properties.

AUTHOR:
Mitch is the author 3 books:

MY LIFE & 1,000 HOUSES:
Failing Forward to Financial Freedom

MY LIFE & 1,000 HOUSES:
200+ Ways to Find Bargain Properties

My Life & 1,000 Houses
The Art of Owner Financing

For more info about these books go to http://1000houses.com/the-book/

EDUCATOR:
Mitch offers Online Education, Group Coaching, and one-on-one Mentorships as it relates to all the aspects of Owner Financing and owner financed properties.

Mitch forged the creation of a mass texting software, LiveComm.com to help solve problems that arise when you get numerous calls from bandit signs and other advertising efforts to sell your houses.

The main reason Mitch wanted this system was to reduce the number of calls from potential buyers (that asked the same questions over and over) to a group of the most qualified buyers, saving time for the sales team. This solves that and much more to streamline your selling process.

What you’ll learn about in this episode:
Some reasons you might want to consider bringing in an acquisitions manager to take on some of the tasks you’re handling on your own
Getting your mindset prepared to invest in proper training for your new acquisitions manager
Being sure to put some thought into deciding on what information you make available to your acquisitions manager and what to keep proprietary to the company
The benefits of finding an acquisitions manager from outside of the real estate industry
The importance of getting your acquisitions manager into the mindset of always putting the interests of the business first in any deal
Why you might want to hire someone motivated by money and driven to do whatever it takes to get that next check-in
How hiring someone with no motivation to strike out on their own can work to your company’s benefit
Helping your acquisitions manager land a big deal or important contract by setting out smaller tasks for them to accomplish along the way
The importance of keeping your acquisitions manager engaged by keeping the lines of communication open and providing constant feedback
Inspiring your acquisitions manager to push even harder by making it a point to reward success right away
Making sure you keep your acquisitions manager focused on their own job and not distracting with other tasks
Why you might want to consider finding a permanent place in the upper hierarchy of your organization for an outstanding acquisitions manager starting to look for other opportunities instead of firing them
The way it helps to carve out time to personally engage with your staff during monthly or quarterly outings
Resources:
REInvestorSummit.com/PATLive
REInvestorSummit.com/Machine
REInvestorSummit.com/aof
REInvestorSummit.com/100
REInvestorSummit.com/Coaching