Dec 22, 2020
On today’s show, we have Christie Green and Phil Green, in-laws and the founders of the incredibly successful GG Homes, who share how they transitioned from real estate agent to investor, how they scaled up their business to 200 fix and flips annually, and how they have systematized operations using some of the coolest and latest tools.
Connect with Founders Club Host Oliver Graf on Instagram: @OliverGraf360
When Phil was working as a real estate agent, he realized that he was leaving a lot of money on the table by not getting into the fix and flip space. Five years back, Phil flipped his first home. GG Homes is on course to flip 200 homes this year! How did they make it happen?
In today’s show, Christie and Phil reveal how you can rapidly scale up a real estate investing business. From hiring the right people to finding the right deal to negotiating the best offer, Christie and Paul share what all they do to ensure the smooth and efficient functioning of GG Homes.
They also share their process for finding the best deals and pushing higher conversions.
We hope you enjoy this show!
Key Takeaways:
00:05 – Phil and Christie’s background information
01:21 – Transitioning from being a real estate agent to an investor
02:24 – How did Phil crack his first deal?
04:18 – How to vet and partner up with the right investors
05:00 – How moving fast can help you compete with the likes of Zillow
07:36 – What is the typical timeframe to close after an agent brings a new deal to the table?
09:07 – How an evicted tenant ended up costing Phil and Christie in six figures
10:20 – Making $150,00 on a $100,000 investment!
11:18 – How many team members are present on the GG Homes team? And, how are their roles aligned?
13:18 – How many projects is the GG homes team working on at the moment? How do they manage such a large volume of work?
14:12 – Are there any downsides to working with your family members?
17:00 – How presenting the same deal in different ways can help drive conversions
21:12 – Are the majority of deals through MLS? What is the proportion of off-market deals?
27:00 – Crunching the numbers – expert tips for analyzing deals
27:40 – How many offers do GG home make every month?
29:18 – What is the best place for finding deals? Any specific channels that are outperforming?
30:50 – How do they find leads?
32:04 – Finding distressed deals and highly motivated sellers
33:06 – How to find owners of vacant properties
34:03 – Which skip tracking systems work the best?
35:27 – What is the best way to contact a lead on Facebook?
37:20 – Do they rotate deals between different sales agents?
38:40 – Using a predictive index for employee onboarding and role alignment
45:48 – Phil and Christie share their agent onboarding process
56:48 – How to stack and analyze data to find highly motivated sellers
59:26 – Which are the data providers that they rely on?
01:00:21 – Using list stacking software to crunch the numbers
01:08:23 – Which CRM do they use to stay on top of things?
01:10:53 – Phil and Christie share their growth plans
01:19:40 – How do they finance their deals?
01:28:08 – What is the one thing they wish they knew when they started?
Quotes:
“There is a lot of value working with a local investor who knows the market, has the right systems in place and is big as us. It’s a done deal. We are closing every single time.”
“The number one thing I wish I knew was how to hire train onboard and hold people accountable like we do today.”
“If you can hire awesome people that are better than you at what they do, and they can be held accountable, and constantly grow and succeed, they're going to see success. They're going to be happy. Then your company can grow.”
“We're here to continually grow. I'm going to continually set you on a trajectory that allows you to be successful. But that's going to involve changing and getting outside of your comfort zone.”
Resources:
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