How to Transition from Residential to Commercial Real Estate Investing w/ Greg Dickerson
A lot of agents are comfortable staying in the single-family sector, but a significant number want to grow out of that and don’t know how to. How can we scale our business? How can we manage numerous projects effectively? Should we be focusing our efforts on one area? In this episode, Greg Dickerson explains how we can build our business successfully, which sectors we should focus on, and what we need to be careful of when doing so.
Takeaways + Tactics
When you have leverage with the right people and outsource the work, it will be easier to effectively manage, maintain and build numerous projects simultaneously.
If we focus our efforts on one or two key areas, we’ll make more money faster. We do, however, need to utilize educational resources in order to do this successfully.
If you are an agent trying to scale your business, the best way to start is to gain an understanding of investors, and then to find a real estate investor and become their agent.
On this episode we discussed how Greg Dickerson effectively and successfully manages and leads multiple businesses, as well as what we need to be doing in order to scale our businesses. Greg also explains how agents can earn more and manage less properties by moving into the commercial space.
We also discussed:
Using leverage and outsourcing to handle numerous projects
How to build success by focusing on key areas
How to best scale your business as an agent
When it comes to scaling a business, we need to have leverage with the right people and we need to outsource the work that we don’t have the time or ability to do. By building a team, we leave ourselves more time to focus on the high-income activities while our team focuses on the administrative details. It can be daunting moving from residential to commercial real estate, but with an effective leader and the right team, the transition will make for higher-earning transactions.