Are you looking to increase your rental property income, streamline your processes, and reduce potential problems? You don’t need to buy more properties – you need better systems and procedures. Imagine implementing military tactics into your real estate business to achieve remarkable success. Today’s guest, Angel Garcia, a lieutenant colonel in the U.S. Army, has optimized his real estate portfolio with strategies learned from the military, and he’s here to share how you can do the same!
Angel has a modest real estate portfolio of five properties but has maximized each unit for optimal rent, cash flow, and appreciation. His secret? Leveraging his military knowledge to create standards and protocols for every situation. With a team that is always ready, Angel’s business runs smoothly on autopilot. Whether you’re refining your investment strategy or stabilizing your portfolio with better systems, this episode is a must-listen. Angel provides you with the tools, resources, and expertise to unlock the full potential of your real estate portfolio, regardless of its size.
Let’s delve into Angel’s five "tactical" tips that can transform your real estate business:
- Have Battle Drills: Prepare for any scenario with a battle plan for every situation, from tenant vacancies to maintenance emergencies. Having a detailed plan in place allows for a quick and effective response, ensuring seamless operations.
- Create a PACE Plan: Establish a Primary, Alternate, Contingent, and Emergency plan for all aspects of your business, including vendors, property management, and financing. Having backup options ready ensures continuity in the face of unforeseen circumstances.
- Set Up Battle Rhythms: Implement weekly, monthly, and quarterly touchpoints with your team to ensure everything is running smoothly. Use these meetings to review systems, finances, and trends to keep your business on track.
- Develop Standard Operating Procedures: Build a robust filing system with SOPs for each phase of property management. From pre-purchase to taxes and expenses, having a standardized process in place makes operations more efficient and organized.
- Execute Mission: Once you’ve completed your planning and preparation, it’s time to take action. Overcome the fear of uncertainty and step into execution mode. Continuously learning and adapting, and being ready to take the next step toward success.
By following Angel’s tactical tips and incorporating military strategies into your real estate business, you can achieve remarkable results. Don’t let analysis paralysis hold you back – take action, implement systems, and watch your real estate portfolio thrive. Remember, success lies in creating efficient systems and processes that set you up for long-term success. So, are you ready to implement these tactics and watch your real estate business soar?
