Scaling your business

[Payton Pearson]

So I have been investing in real estate for about 18 months now, and as per my business model and aggressive growth structure I have now five properties under my belt--totaling 13 units. As such, the time has come to where I need to start seriously thinking about how I'm going to scale my real estate investing business.

So how did you guys do it? What mistakes did you make, what good choices did you make? Generally, how did you go about it? What I'm thinking about right now are:

1. Get an LLC started -- how did you guys do it?

2. Scale my property management partner's company.

3. How to manage all the different tenants and their leases -- account manager, property manager, etc? How long can I manage them myself before I get swamped?

4. Partnering with the right people.

5. Advertising and networking.

6. Scaling my lead finding system.

So yea, what do you guys think? How are you scaling? How did you scale? How are you thinking you're going to scale? I'm looking forward to your thoughts.

[Jon Reed]

Did you go about buying all of those properties under your own name? Are all the leases in your personal name as well?

1st thing... get a lawyer, create an LLC, and transfer those properties and leases into your LLC's name. Currently you have a lot of risk sitting right on your personal head.

Just my 2 cents.