You may be vaguely (or perhaps implicitly) aware that one of our business practices as a unique member of the real estate industry is that we do practice what we preach. But what exactly does that mean? The short version is that we don’t recommend any properties to clients until one of our area managers has purchased a similar property with their own money.
This is a pretty big deal. Try to find a similar model of personal responsibility elsewhere. They might be out there but we don’t know about it.
Let’s look behind the Empowered Investor curtain and see how this plays out in the real world. Early on, Jason found himself inundated by eager area managers who wanted to open new areas across the country. He saw how this could quickly spiral out of control until there was no quality control at all and the end result would be that a Empowered Investor recommendation would be almost meaningless.
It was from this foresight that our due diligence process regarding the opening of new areas evolved. A manager interested in opening a new area must first complete our three-page due diligence questionnaire. Then they fly out there, interview agents, developers, and property managers to get a real sense of what the market is like on the ground. If they still think it’s a great investment opportunity, they pony up their own money and buy a property as similar as possible to those we will be recommending.
At this point, we know they really do think it’s a great area for investments and we began to get serious about making recommendations to clients.
