Multifamily Live Ep 103: Building The Machine with the Queen of Systems Beka Shea
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As part of the celebration of our 100th EPISODE we welcome back Beka Shea! Beka was on episode 22, she is in Chester county PA and just KILLING IT with flips and wholesales. When we first interview Beka, she had an awesome system and since then she has taken that system and put it on steroids!
BEFORE AND NOW: “I have been investing for four years and really at the beginning of this year I started drinking the wholesaling koolaid as a means to an end because, I wanted to rehab, wanted two properties every month, I needed to find those deals, I was having a hard time finding them, so I started marketing, and then we just kind of just got a rhythm.
The first half this year was spent marketing, like learning marketing, the different channels if marketing. And you guys know, but for the listeners, I am super data driven, and if there is spreadsheet that can be built I will build it. I am always finding that urge to not over analyze.
So, the first six months of this year were like, we started with two people, a lead manager, who is going on appointments, and my project manager who is helping on rehabs. Then we had an admin person helping on the back end, and then we brought on an acquisition person, they weren't the right fit, we let them go. And it wasn't until the end of the summer that my team really came together. And the marketing, I feel like I crack the marketing nut a little bit, and we wasted a whole lot of money over the first half of the year. So we will do probably a half of our profit in the last three months of this year for this year.
I looked it up and we were at 100... we were close to 175K the last four weeks. And we have like a150K, to a 170K lined up for January. It took us like 8 to 10 months to really build the machine, get the right people on the team, get the trained up, figure out how to manage people on my end, and now it just feels like, because we have a team meeting once a week, and I love our team meetings. I am like, I don't know, there is just this energy, and everybody is happy, and everybody is doing their thing, and it's awesome.”
KEY PROPONENT TO GROWTH: “Building one piece at a time.”
ON COMPANY CULTURE: “I think it really trickles down for me. It’s important to me that we did be honest, and it's important to me that the seller is really do benefit…”
ADVICE FOR THE NEW INVESTOR: “I think the very first thing I would do is pick one avenue in real estate and become an expert at it. I think it's too easy to get distracted by like nineteen channels. And once you build a foundation... I think we have talked about those before, right. Once you build the foundation in one area, it's much easier... And you know what happens is as you are building foundation in one area, you are still like osmosis learning about the other areas. So, I'd say pick one area, learn everything you can learn about it and then redo it.”
AND: “Assume that for eight months after you have seriously started you are not going to make any money.”
WORDS TO LIVE BY: “Do the basics well, I mean that’s my mantra, do the basic well. Don't get distracted by shiny objects.”
HOW TO FIND BEKA: Buyers List: bekasdeals.com Email: beka@sellyourpahouse.com
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