How to Scale Your Real Estate Portfolio So You Build Wealth, NOT Burn Out

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 11 September 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Scale smarter with Kathy and Rich’s new book, Scaling Smart! Own real estate? Feeling burnt out? Then you need to listen to this. You've wondered how to scale your real estate portfolio so you can make more money and finally reach financial freedom. And then, at some point, you realize you own rentals and are making money but have zero time. Now, you’re burnt out, wondering where that “financial freedom” went and how you can get back to it. But you’ve got an entire business riding on your back. You can’t stop, so what do you do? Don’t worry—we have the secret. Kathy and Rich Fettke felt like this a decade ago. Kathy was so stressed that she had zero interest in growing her business any bigger than it was. It was already taking so much out of her, and the stress was only rising. She turned to her husband, Rich, to help coach her into a better position to scale the business instead of blindly growing it. Now, in 2024, Kathy and Rich have amassed a sizable real estate portfolio, run an investor-centered business, and are doing more in less time with less stress. If you want what Kathy and Rich have, stick around and pick up their new book, Scaling Smart, where they teach you how to scale your business the right way, outsource to free up time, and STOP chasing “more” when it’s coming at the cost of your family or time freedom. Want to scale the right way and build a business, not burnout? Don’t miss this episode. In This Episode We Cover: How to scale your real estate portfolio (or real estate business) the right way Why “growing” isn’t always the right move and could lead you to stress, burnout, and unhappiness Making your first hire and how to design the perfect structure for your portfolio Why you need to STOP doing the things you hate and get someone on your team who loves to do them instead The two major hurdles most real estate investors face when scaling (and how to overcome them) Knowing your “why” and how to have time freedom instead of mindlessly amassing wealth And So Much More! Links from the Show Invest in Turnkey Properties with REI Nation Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Grab Rich and Kathy’s New Book “Scaling Smart” Property Manager Finder See Dave, Kathy, and Rich at BPCON2024 in Cancun! How to Build a Real Estate Portfolio & Quickly Scale Your Investments Connect with Kathy Connect with Rich Connect with Dave (00:00) Intro (02:13) Stop Growing, Start Doing This (06:31) Choose Life Over Business (12:57) How to Start Scaling (21:02) Do More in LESS Time (24:42) Making Your First Hire (29:13) When Is It "Enough"? (36:38) Grab "Scaling Smart"! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1016 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Almost everyone who starts a business does it because they're good at something,
0:04.0	whether that's baking bread or fixing cars or IT consulting.
0:09.0	But if your business grows, there's eventually going to come a point where you're no longer spending
0:14.5	most of your time using that original skill or passion that got you started.
0:19.3	Instead you'll be managing a team and focused on strategy.
0:23.2	And in this respect, real estate is just like any other business.
0:26.8	Even if your superpower is analyzing deals or renovating houses or dealing with tenants, you're eventually going to need to learn an
0:34.5	entirely different skill set if you want to keep expanding your portfolio. In today's deep dish episode we're talking about scaling and we have two experts on
0:49.8	hand to help us out. It's Kathy and Rich Fecky. You may know Kathy as a co-host of the
0:57.2	on the market podcast. She's often also on this podcast and her and her husband
1:02.2	Rich who's a great guy as you'll see are serial entrepreneurs and real estate investors who run a successful business together.
1:11.0	And from their experiences running that business business they have a new book out called
1:15.2	scaling smart you can find it at bigger pockets.com slash scaling smart and I'm super
1:21.3	excited for this conversation because as a real estate investor myself
1:24.6	this question of how to scale is something I think about almost constantly and it's
1:30.4	really come up a lot recently for me.
1:32.6	So I am going to be a little bit selfish
1:35.2	and ask Kathy and Rich for a little bit of coaching myself.
1:39.6	But really, I think I'm going to ask some questions
1:42.0	that I think apply to a lot of us listening who have
1:45.5	gotten started investing in real estate but don't know exactly what to do next.
1:50.3	Specifically the things I want to learn is the difference between growing and scaling.
	...

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