Running an Investment Business Parallel to Your Team w/ Jennifer Spencer
For most team leaders, the only path to more production is recruiting more agents to the team. However, we can use other vehicles to earn more money. How can an investment business that complements our team increase production and wealth without more work or more agents? How can the team and the investing side share resources in a sustainable way? What strategy can we use to get the most out of real estate investment?
On this episode, Jennifer Spencer talks about doing more transactions without adding more people, investing in real estate, and creating more freedom in our lives.
Takeaways + Tactics
If you want a lead generation source in buyer’s agents, you have to hire high S-personalities. Excellent negotiators and relationship builders.
As your business evolves and you bring on new hires, it’s important to get the buy-in from the people who were already there. There has to be something in it for them.
Aim for 50% leverage on investment properties because even if there’s a shift, you’re still covering your debt obligation.
At the start of the show, Jennifer shared how her the team is set up, and the compensation structure she uses. We talked about why it’s so important to have buy-in from the existing people on our team when we’re trying to grow production. We talked about how we can invest in our first ten homes on a 30-year fixed conventional loan. Towards the end, we discussed what working 2 days a week has done for Jennifer’s family and her business.
Jennifer also shared:
- The importance of selecting the right team members for the buyer’s agent role
- How they are incorporating the investment side into the team
- Finding the ideal leverage point for investment properties
The evolution of a real estate entrepreneur starts with how to sell real estate, and then how to run a successful team of people selling real estate. The final stage is creating wealth by investing in real estate. This is a great strategy when we want to make to make more money without adding more people into the team. There are a lot of opportunities in this space to increase productive and do more per deal, and there’s an opportunity for us to increase quality of lives and get freedom.
Jennifer is the co-broker/owner at Spencer Properties in Raleigh, North Carolina. She is also a real estate investor. Go to http://spencerprop.com and https://www.linkedin.com/in/jenniferspencer2017/ or call her to get in touch 919.602.7411.