AREI 114: The Backbone of Success: Systems and Processes Demystified with Todd Silance
As you know real estate investing can be a lucrative business, but it's not without its challenges. From finding deals to managing properties, there are a lot of moving parts involved. And as your business grows, it can be difficult to keep everything organized and running smoothly. That's where systems and processes come in. By implementing effective systems and processes in your real estate investing business, you can streamline your operations, increase efficiency, and ultimately achieve greater success.
In this episode, we welcome Todd Silance, we're going to be discussing how implementing effective systems and processes can help you take your real estate investing to the next level. Come join us and listen in!
Todd Silance is a corporate consultant turned business owner and real estate investor. In just under 5 years, Todd has built a personal portfolio of over $30MM and 160+ units along with being a limited partner in 450+ units nationwide. Most recently Todd is Co-Founder and managing partner of the real estate investment company Summit Capital.Their top priority was freedom of time – not wanting to miss out on all the big (and little) milestones that comes with raising a family. This was the biggest driver in opening their own business, an Anytime Fitness Franchise, in 2008, a second location in 2014, and eventually Todd’s real estate investment company in 2019.
[00:00 - 11:55]
• We welcome Todd Silance to the show.
• Todd Silance and his background on how he started investing in real estate.
• Buying a proven concept with systems in place.
• Why for some people might think franchising isn't for them?
• Could franchising help you get into real estate investing?
• Look and understand the market and the culture of that market.
• Making sure to trust the sponsor and their values align with yours.
[12:52 -18:40]
• Knowing what exactly your looking for in partnerships.
• Having those hard conversations with investors and being upfront with them.
• Asking operators important questions that will help determine if your in great deal.
• Partnering with someone who had that experience, but also maybe had that failure.
[19:30 - 31:40]
• Todd on, if parent company of a franchise brand do their due diligence for potential investors?
• The importance of systems and processes no matter what the business type.
• Asking Todd Silance the Adventurous Four
Memorable Quotes:
" Make sure your goal aligns with whatever you're investing in." - Todd Silance
Explore more. Adventure awaits.