passive income through multifamily real estate

with kyle mitchell

automation & outsourcing

with bob lachance 

Podcast Summary:

There comes a time in real estate investors’ careers when they can no longer manage all the tasks and wear all the hats required to succeed in the industry. This is when virtual assistants (VAs) might be just what they need. Bob Lachance is a nationally recognized speaker, mentor, and trainer who specializes in helping customers build their businesses through automation and outsourcing. He acquired his first flip in 2004 and has done over 700 transactions since, and has also started two successful real state coaching programs and three virtual assistant staffing companies. He is the owner of REVA Global LLC, which focuses on offering trained real estate virtual assistants to real estate professionals. In this episode, Bob tells listeners when they might start thinking about outsourcing some of the tasks, what they can expect to pay for virtual assistants, and advises on acquiring a full-time employee versus hiring a VA for each of their specialized tasks. He also discusses VA’s retention rates, how investors can hang on to good ones, and the importance of having clearly defined responsibilities to maximize the chances of success. 

 

Key Points From This Episode:

  • Find out who Bob Lachance is and about his real estate career thus far. 
  • Recognizing a need for mentoring and developing two coaching programs in response. 
  • Starting his first company after spotting the opportunity to provide virtual assistant services. 
  • When it is time for investors to think about automating and outsourcing certain tasks. 
  • Guidelines around the cost of VA services and why it need not cost a fortune. 
  • Factors to consider when deciding to hire a full-time employee versus a virtual assistant. 
  • Thoughts on hiring several VAs for each specific area or hiring one or two to manage it all. 
  • Suggestions for getting started on training your VA in their tasks and responsibilities. 
  • How Bob and his team go about finding, screening, and interviewing candidates.
  • Hear what automation outsourcing means to Bob and examples of how it works.
  • The average retention rates of VAs and tips for retaining that person on your staff. 
  • Why you should know the area you invest in and avoid shiny object syndrome. 

 

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