Wondering whether you really need an Acquisitions Manager on your team? Here’s what the real estate trainers at SREC say…
The real estate trainers at SREC won’t hesitate a moment to answer this excellent question. The answer is YES!
Wondering why an Acquisitions Manager is such an important member of your team? Two words: paperwork and negotiations.
Finding funding for your investments is going to be a full-time job for you. What is needed to make your business a success is a licensed real estate agent working full-time for you as your Acquisition Manager.
I know, part of you thinks you can handle it all by yourself. But take a moment and think about what is involved.
If you are hoping to purchase 5 homes a month you will need to look at approximately 50 houses. Let that sink in for a minute, 50 houses.
Looking at 50 houses means:
- Research time to find 50 potential purchases
- 50 contacts with sellers
- 50 appointments to meet sellers
- 50 evaluations of properties.
Not only are you going out to meet the sellers you also have to turn your contact with them into a contract.
Now let’s look at the paperwork that is involved with just a single HUD home
You have a 48-hour turn-around time once your bid is accepted to fill out the paperwork and get the money. This is a transaction involving the government, so you know the paperwork will be lengthy and you better be sure all the t’s are crossed and all the i’s are dotted. There is paperwork that needs to be filled out and collected on every type of transaction you complete. Miss a deadline, and you miss an opportunity.
How about on a short sale when the bank wants to do its own appraisal?
You need someone who will be able to meet that appraiser at the house and explain the offer your company has made on the house. Do you think you will be sharp enough to negotiate with an appraiser so that the value of the home doesn’t get driven up? You may be a bit tired after pursuing 50 homes while also trying to find the funding you need for your deals.
Take the time to find an acquisition manager. Call local real estate offices and ask to talk to agents who specialize in investment properties. Put an ad on craigslist, or attend some meetings at local clubs and start networking. It will be time well spent.
There’s always a hard way to do something, and an easy way. In real estate investing, if you go it alone, you might eventually enjoy success, but you’ll most definitely do it the hard way. Getting input and guidance from qualified real estate trainers can cut the learning curve dramatically, while helping you get bigger results, faster.
The hiring of an Acquisitions Manager is the perfect example. How hard could you end up working to do all your AM could do for you? What impact would that have on your profits? If you knew enough to hire this kind of rain maker for your business, what would that knowledge be worth to you in the end? Think now might be the time to look into getting serious about learning from some of the best real estate trainers out there?