Ep #247: Preparing Your RE Investment Business For the Next Recession — with Lee Kearney
September 24, 2019
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin brings in real estate expert, Lee Kearney. Lee’s business is primarily in single family residences and he’s one of the nation’s most active and successful investors. He is known to be a master at scaling real estate businesses.
In the podcast, Lee talks about how he got started in real estate. He tells the story of how he recovered from the financial crash and what he learned from it. Kevin talks about the importance of laying down processes and implementing management strategies for maximum returns.
Lee explains how he scaled his real estate business and how his team conducts and manages in-state and out-of-state deals successfully. Kevin and Lee discuss single family and commercial real estate with Lee sharing some marketing strategies and explains how to find opportunities in the market. They also discuss Lee’s prediction of an imminent downturn. Lee shares his philosophies on hiring employees.
“I recommend to everyone out there, don’t start off trying to rehab houses out of your own market.”
“I learned a lot of things from the way institutions approach business, I’ve tried to institutionalize my business and I think that’s what makes us different.”
“Rather than chasing assets, I’m chasing sellers.”
“So I’m seeing a lot of new operators come in to the business and I think they’re over leveraged.”
“I focus on three things: systems, processes and people. All three are important.”
8:36 Lee’s background and his start in real estate
15:51 Businesses processes and strategies
18:06 Out-of-state deals and scaling the business
24:01 Marketing strategies in single family and commercial real estate
30:15 Lee’s predictions
36:21 Hiring and attracting new talent
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