489: How Are You Preparing to “Exit Rich” in Real Estate?

Episode • Jul 25, 2021 • 1h 17m

Real estate is a business, but we often don’t think of it that way. A single-family home here, a duplex there, at the end of the day we’re just landlords, right?

What if some large corporation or outside buyer wanted to buy your real estate business from you. Even better, what if you had such efficient systems in place that you could sell your business for 10x what you put into it. Sounds pretty sweet right?

Today we talk to Michelle Seiler Tucker & Sharon Lechter, authors of Exit Rich and Rich Dad Poor Dad. Michelle and Sharon have spent years building and selling businesses and have defined the 6 Ps to a profitable exit. Their main critique of most business owners: start planning to scale efficiently TODAY.

This can help you as a real estate investor start putting systems in place to grow your portfolio faster and with less work from you later on. If you’re willing to put in the upfront effort to start hiring right, systematizing, and opting for efficiency you most certainly will “exit rich”!

In This Episode We Cover:

What business owners do that costs them millions in company valuation

The 6 Ps to a profitable (and stress-free) exit

Building systems that allow your business to grow efficiently

Focusing on company culture and having an employee liaison

Why most business owners won’t let go of their “hands-on” role

How a business is valued (and what you can do to boost your valuation)

And So Much More!

Links from the Show

BiggerPockets Forums

BiggerPockets Youtube Channel

GoBundance