In this episode of the Collecting Keys Real Estate Investing Podcast, we discuss tips and tactics that will help you manage contractors and become a successful real estate investor. We address a few signs you need to start outsourcing as well as the power of taking risks and being a responsive buyer.

Tune in to learn how to keep contractors engaged and productive, how unemployment and high wages are impacting our business, and tips for growing and scaling as a full-time real estate investor. Plus, we highlight the power of having a CRM system, getting clear on your investing niche and goals, and whether or not you should incentivize and penalize your contractors.

Key Points From This Episode:

• Signs you need to start delegating and hiring help. [02:18]
• “Everybody’s a buyer until it’s time to buy.” If you want to get into real estate, be serious about it, be responsive, and take risks. [03:26]
• Expanding our reach to new markets: How is it different? [06:47]
• If you want to make money in real estate, listen to THESE expert tips! [07:36]
• Dan speaks on the state of his renovations & How to keep contractors engaged. [12:03]
• The importance of vetting your contractors & Mistakes we’ve made with contractors. [14:33]
• How unemployment and high wages are impacting our business. [17:54]
• Should I incentivize and penalize my contractors? [20:39]
• The importance of building systems within your real estate investing business & How to grow and scale as a full-time investor. [26:10]
• Lessons learned from this week: The power of cutting deals loose, renegotiating, and knowing everything isn’t a deal for you. [29:55]
• Lesson learned from this week: Don’t discount any leads that come in, despite how crazy they sound. [31:35]

Tweetables:

“Want to know the best way for me to never send you a deal? Never respond to me!” – Michael DeHaan [0:04:25]

“Having a CRM in place… that’s literally the difference between getting deals and not getting deals, for 99% of people.” — Michael DeHaan [0:11:48]

“For us… incentives to finish early would probably be the way to go. Incentives to finish on time is not the way to go.” — Dan Austin [0:22:22]

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