In real estate investing, the Acquisitions Manager leads the way to higher sales volume.
The Acquisitions Manager is chief rainmaker and prime mover in building up your real estate investing company’s bottom line. This quickly becomes the go-to person for more volume, both in homes to sell and bottom-line dollars.
A good Acquisitions Manager will have at least 50, maybe even more than 100 properties in their active file. For most real estate investment firms this can translate into the purchase of 5 to 10 properties every month, month in and month out. This churn can quickly bump your sales up into the $1 million annual profits mark within a very short period of time, usually less than 36 months.
But what exactly does an Acquisitions Manager do? Many people starting out in real estate investing have little or no idea what role this person plays within their organization. So with that in mind, let’s review a few of the key points to consider when discussing the Acquisition Manager.
A good Acquisitions Manager should be able to:
- Find good properties:
The Acquisitions Manager is responsible for working with sellers to bring qualified investment properties into the firm. Their primary job is to find good deals for the company.
- Evaluate properties: They should know how to evaluate and put offers in on all kinds of conventional and unconventional properties, including Fanny Mae, Freddy Mac, HUD homes, short sales, off-market homes and others.
- Handle all paperwork: This includes writing up offers, collecting contracts, handling addendums and other assorted paperwork.
- Run all purchase coordination activities: Including but not limited to property due-diligence, working with the title company, ordering title work, coordinating closing between the seller and buyer, and coordinating handoff of property to your rehab project manager, sales manager and/or Agent, and/or the Loss Mitigation Department.
In real estate investing, remember that your Acquisitions Manager should be a licensed real estate agent so you can take advantage of listing opportunities when they come up. This person is your chief money-maker, so take plenty of time to select the right person for your firm.
You caught our recent podcast on the Role of the Acquisitions Manager, right? Tune in now, and be sure to subscribe if you haven’t already. Many of our real estate investing students say listening to the weekly podcast helped them decide they were ready to get started building their own investment business.