Real estate business can be seen as a constant process of scaling, and whether it is your systems, employee numbers, deal flow, or profits, managing these growth processes well will determine your ultimate success. Here to share his thoughts on healthy scaling is Hemal Badiani, the CEO of Exponential Equity. As you can hear from the name of his company, Hemal is very focused on growth and numbers and he generously shares his philosophy towards the real estate game and how his background in finance has helped inform this. We talk to Hemal about the incredible period of 100 days in which he and his team closed on three deals, discussing the lessons learned, the contributing factors, and reflections on a busy three months! Our guest makes sure to underline the value of self-knowledge, intentionality, and mindset, and the role these can play as you up your game. We also get to talk about non-local markets, avoiding overly hasty scaling, and creating a suitable funnel to source good deals. Hemal weighs in on smart hires and how to go about building a strong team around your own strengths, so make sure to tune in to hear all this and much more!
Key Points From This Episode:
- An introduction to Hemal, his company Exponential Equity, and work in banking.
- The period of 100 days in which Hemal closed three deals!
- The importance of a strong team with a good structure; how Hemal approaches this.
- Three components that boost Exponential Equity's deal flow, and help them find worthwhile deals from these.
- The lessons about infrastructure, mindset, and foundation that Hemal learned from his recent three deals.
- Reflections on the necessary communication practices to improve the ease of closing deals.
- Hemal's thoughts on current market trends and the short-term future.
- Why Hemal believes in exploring markets beyond the immediately local ones.
- The key components to scaling according to Hemal; intentionality and knowing your own strengths.
- The dangers of hasty scaling and combatting these with good processes and discipline.
- Approaches to hiring a great team; early hires and filling in the gaps in your own skillset.
- Hemal's deep reliance on his calendar for his work in real estate.
- An example of a recent mistake that taught Hemal a valuable lesson about due diligence.
- The strategic partnerships that Hemal sees taking his business to the next level.
- Where to connect and find out more about Hemal and his inspiring work!
Tweetables:
“As I started my own entrepreneurial journey, that’s all helped me build a culture and a vision for the type of enterprise that we’re building in the commercial space.” — Hemal Badiani [0:02:27]
“We believe at least 200 opportunities a month would allow us to take one or two deals that we’re looking to take from an acquisition standpoint.” — Hemal Badiani [0:04:26]
“As long as we are disciplined in our approach with the fiduciary responsibility to our investors on what we are bringing to the table, that allows us to create a long-term established brand.” — Hemal Badiani [0:07:16]
Links Mentioned in Today’s Episode:
Hemal Badiani Email
RedIQ
Virtual Asset Management Summit 2021