Mike Taravella and co host Will Coleman interview Joe Fairless Co Founder and Partner of Ashcroft Capital.
When Joe first started he learned valuable lessons, for example your investments need to be well capitalized. You shouldn’t rely on the cash flow of the property for your capital expenditures. He was also not as focused on the quality of areas he invested in.
He now focuses on deals that meet his medium income and crime requirements.
As Joe’s business has grown he has brought on new team members on the acquisition and underwriting side.
On the asset management side Joe has gone from working on the property himself to hiring a team that is still very hands on for the properties they are managing.
Hiring is key when it comes to creating your company culture. Joe mentions that he asks himself “knowing what I know now would I hire this person” after they have worked for the company for a few months. If the answer is no, it may be time to go in different directions.
Expert Pro Tip: The secret to living is giving.
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