$85M by 29: The Power of Offshoring - Jonny Bell #126

Jonny Bell's property managers each run 250 to 300 properties. He puts the Australian average at 100 to 120. The whole gap is one offshore team member and one KPI: speak to 15 landlords a day.

Jonny Bell is 29 and the founder of Create Holdings, whose businesses include the offshoring firm Wingman and the property management business House Mark. He has over 100 staff in Australia and 1,100 offshore.

What you will learn:

- The maths he runs on offshoring: an extra 100 properties per manager at a $2,000 average fee, against a $30,000 offshore salary

- Why he will not buy a rent roll, and his argument that they depreciate about 10 percent a year

- What he does instead with the same $600,000, and the return he says it produces

- Why the only KPI his property managers have is 15 landlord conversations a day, and what those calls actually say

- Why not one of the 30 people in his high performer club came from a job ad

Chapters

00:00 85 to 90 million at 29, and why it does not feel different

01:20 Wanting to be a professional tennis player, until a 13 year old beat him

04:31 Starting at 23, and three months to the first management

05:17 Solo to 300 properties with keys in the back of the car

06:37 Three thousand managements, none of them bought

10:31 Why having nothing to lose was the advantage

11:48 The question he asks every week: what do I do less of

14:27 Hire slow, and take them to the Philippines first

15:45 Everyone said he was growing too fast

17:05 Why he will not buy a rent roll

22:21 Eighty percent of the jet fuel goes on take off

24:58 Fifteen minutes of audiobook, fifteen minutes of journal

27:38 The rooftop in Manila that changed the plan

34:16 A legislation bot, and a consistency bot

41:59 Turning up in a linen shirt and not needing the deal

46:12 Learning to let other people win

49:43 Take every meeting, because you cannot see the tree

59:28 What the offshore team actually does all day

1:04:45 How sales agents are using it, not just property managers

1:07:23 The price of regret against the price of failure

Jonny Bell's managers run 300 properties each on one system. Property should work the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.