Built to Sell Radio
Ep 465 Negotiation, Earn-Outs, and the Pitfalls of Stock Deals in His $4.6M Exit with Pete Neubig
Oct 25, 2024
Pete Neubig, who sold his property management company for $4.6 million, shares his entrepreneurial journey from real estate investor to industry player. He discusses the intricate balance of negotiations, earn-outs, and the common pitfalls in stock deals. Pete emphasizes the vital role of having a skilled team and the importance of standard operating procedures in enhancing both creativity and efficiency. He also highlights the significance of legal expertise in navigating mergers and acquisitions, urging listeners to understand the complexities involved in selling a business.
50:47
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Quick takeaways
- Pete Neubig's shift from property ownership to managing properties for others highlighted the importance of recognizing market needs for efficiency.
- Engagement with industry organizations provided critical insights and best practices that facilitated rapid scaling of Neubig's property management company.
Deep dives
Starting a Property Management Business
The journey into property management began with the realization that owning multiple properties created a need for efficient management. Purchasing several single-family homes and apartment complexes led to a logistical challenge, prompting the creation of a management company. A partnership formed with a natural salesperson catalyzed the evolution from self-management to third-party property management. This shift introduced new operational complexities and necessitated a deeper understanding of the industry.
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