Why Acquisition Managers Are Your Most Important Hires
Jan 26, 2023
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Learn about the importance of hiring acquisition managers in the land investing business and how to find the right ones. Discover tips for hiring, onboarding, and setting success metrics. Also, gain insights from a 7-figure land investor on building an acquisitions team and the number of touches required to close deals.
Having an acquisition manager in the land investing business is crucial for rapport building, negotiating, and following up with leads.
Focusing on quality assets and markets, rather than small deals or owner financing, maximizes profits and scales the land investing business.
Deep dives
Building a Team for Success in the Land Investing Business
In this podcast episode, Jesse Quang interviews Sumner Healy, an experienced land investor, about the importance of having an acquisition manager in the land investing business. Sumner highlights that the role of an acquisition manager is crucial for rapport building, negotiating, and following up with leads. He emphasizes the significance of nurturing leads and providing personalized attention to potential sellers. Sumner also shares his insights on the benefits of hiring overseas workers, particularly from the Philippines, for acquisition manager roles. He discusses the red flags to watch out for during the hiring process and offers advice on training and managing acquisition managers. Finally, Sumner suggests focusing on quality assets and markets, rather than small deals or owner financing, to maximize profits and scale the land investing business.
Experimenting with Subdivisions and Adding Value to Land
Sumner Healy reveals his current focus on experimenting with subdivisions and adding value to land in the land investing business. He shares his experience in working on subdivisions and highlights the challenges and intricacies involved in the process. Sumner discusses his strategy of front-loading acquisitions and prioritizing quality assets in favorable markets. He explains how he secures bank loans and leverages the value-add approach to increase profitability. Sumner encourages land investors to be bold in their strategies and think beyond small deals and owner financing to achieve substantial growth and success in the industry.
When’s the right time to hire an acquisition manager? How do you find the right ones for your business and what are the red flags to look for?
We talked to 7-figure land investor Sumner Healy about that and more; how he built his acquisitions team, the success benchmarks he uses and what he learned from hiring overseas (spoiler: leads care more about talking to someone who knows land lingo than the accent they may have).
Sumner’s insights on the number of touches before a lead enters a drip campaign to the touches required to close that deal alone (it’s more than you think!) can boost your close rate.
IN THIS EPISODE LISTEN AND LEARN:
-How acquisition managers help your business
-When hiring one (or more) makes sense
-Tips for hiring, onboarding and setting success metrics
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Listen to the best highlights from the podcasts you love and dive into the full episode