Could you Run 6-10 Deals at any Given Time?
If you are already doing this, congratulations. You can simply delete this email, buy one of these as your next deal, and carry on with your week.
If you are not already doing this, let me share what this looks like.
Running 5-10 deals at once means you are closing 1-2 deals every month. Steady, above average income.
Running 5-10 deals at once is also a lot of work. You are managing dozens of negotiations at any time with sellers in search of that next deal.
You are managing dozens of negotiations with contractors around design, repair items, and inspection reports. You have a strong rolodex of these service providers and are good at underwriting the risk of hiring a new contractor. Â (Will they run off leaving a job half finished?)
You are a master at managing the contract cycle – both on the buy-side with sellers and the sell-side when you’re exiting to the retail buyer. You are aware that you have the ability to compress those cycles by a few days here and there-which amplifies your yearly income.
You have resources lined up such as $10M in financing at any given time which is used to buy/renovate that constant flow of deals. Â Ok, $5M is prob enough to manage this pipeline.
To be honest, this is how Acquisition Managers are living their life with us here at Diamond Equity Investments. Running 5-10 deals at any given time. 1-2 closings every month.
We have the money, a decent rolodex of contractors, and a steady supply of sellers who own houses that need renovation. We also have strong admin staff to help get closings done. Finally, we have a senior underwriting team to help make the most important decision in any real estate deal:
How much do you offer?? (this is the #1 question most investors get wrong which leads them to big losses, or no deals. I have answered this question correctly alongside my team more than 5,000 times in my career. I can help you answer this too, assuming you’re on the team.)
At this point in this email, I hope you’re actually wondering the same thing:
“Dan, How much do you offer Acquisition Managers who run your deals?”
My answer, “A partnership share on any deal closed.”
There is no cap in the ability to earn income here at Diamond Equity. We are looking for one Acquisition Manager who understands Deal Making & is ready for a lifestyle in the real estate business.
This is a grind, not a “lifestyle real estate business” where you work remotely and go on lots of vacations. The goal is for you to earn $1M after taxes, in the bank, after a few years in the position and then become a private lender-loaning that $1M out at 12% and setting yourself up with an income stream for life. This will take hustle, grit, & determination to be considered & succeed.
At this point in this email, I’ll ask you, “Do you know anyone who might make a good acquisition manager?” If so, I’d appreciate an email introduction.