Neal Bawa is a technologist who is universally known in the real estate circles as the Mad Scientist of Multifamily. Besides being one of the most in-demand speakers in commercial real estate, Neal is a data guru, a process freak, and an outsourcing expert. Neal treats his $265+ million-dollar multifamily portfolio as an ongoing experiment in effciency and optimization. The Mad Scientist lives by two mantras. His frst mantra is that We can only manage what we can measure. His second mantra is that Data beats gut feel by a million miles. These mantras and a dozen other disruptive beliefs drive proft for his 300+ investors.
Entrepreneurial Role Models:
When business started difficulties overcame:
“A lot of difficulties. The first one was that our first project was not as well thought through as I would like. Obviously, I was new to the business. And we made a bet on that bet was we were buying this big building it was 207 units and it was in south Chicago and there was a lot of great stuff going on in south Chicago… I felt given that I had so much future growth I could buy in an area where the quality of tenants was not as high… But I felt very strongly that in the future there would be an increase in the quality of tenants, the area would develop… Well it turned out that I was wrong. Maybe not wrong but I was wrong in the timeframe ”…[Listen for More]
Favourite Books:
The Miracle Morning: The 6 Habits That Will Transform Your Life Before 8AM Book by Hal ElrodFavourite Quote:
“the Bible got it wrong by one letter. It is not the meek that shall inherit the earth it is the geek”
Recommended Online Resources:
Upwork – You can find The Perfect Freelancers For Your Projects! It’s easy and affordable with secure Payments and will help you to increased your productivity
Best Advice to Other Entrepreneurs:
“be data driven. I really believe that if you cannot measure you cannot manage. So many businesses fail because they spend a huge amount of time in managing and no time measuring”…[Listen for More]
More About Neal Bawa:
Neil’s Quote at the Beginning:
“The key to success is action, and the essential in action is perseverance.” Sun Yat-sen
Other Quotes From the Chat with Neal Bawa:
- “if you are not breaking stuff you are not an entrepreneur, if you are not experimenting, if you are not failing then you are not a true entrepreneur. Because if you’ve gamed the system where you are taking the least amount of risk then you are squeezing all of the entrepreneurial spirit out of being an entrepreneur. So, you have got to fail, you have got to come close to failing”
- “in an environment that is very innovative you have to have some people that are in charge of building systems. And there were times in our company when we were innovating very fast and not building systems. What happened was as a result we would innovate, come up with new things and then those things would breakdown because we were always moving on to the next great thing and six months later we would come back and say we put all these great things in place, they make money, the givers efficiency and none of those systems are here. So, systemising and creating business process is very key. It’s not important when you start but a year after you start if you’re not spending time on it it’s going to come back and bite you later”
- “having a daily process. In a think people are afraid of being robotic. If I can give you one piece of advice, the secret to success is that highly successful people are very structured in the way they do everything… You would be scared at how robotic Jeff Bezos is, you would be more scared about how robotic Bill Gates is. And people are like but that takes all of the joy out of living. No, I think Jeff Bezos has lots of fun, I think that Bill Gates has even more fun. Structure doesn’t actually stop you from enjoying your life. On the contrary gives you more time. So, creating more structures around you is actually one of the secrets to success. People live in chaos and that never allows them to grow or scale fully”
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