What’s the best title to give yourself when starting or formalizing your real estate investing business?
Finally being the boss of your own business is one of the best things about stepping out as an investor. However, many also find it quite a confusing moment when it comes time to giving themselves a title. So, should you be ‘president’, ‘CEO’, or should you take a lowly position to throw off the pressure on another phantom boss?
Even if not formally registering a real estate investing company some still prefer to play the role of the ‘property manager’ or a ‘partner’ rather than putting themselves out there as the main owner or principal. They don’t want to be put on the spot by tenants or use it as an out to take a breather from negotiations. It’s up to you, but most find the dividing line comes down to the advantages of passing the buck versus their conscious and feeling that they aren’t being completely honest.
There can be perceived benefits to not being the boss, but young investors shouldn’t feel that they can’t put themselves out there, especially in today’s hot startup culture where teens are selling their inventions for millions.
You might be surprised that with a little confidence, passion for what you are doing, and thorough real estate education, even veterans will follow you. Don’t be intimidated by hiring those more experienced or older than you either. They have a ton to bring to the table and can actually sometimes make better employees than those new to the work force that haven’t learnt how to accept dealing with rules or being told what to do yet.
Be bold; crown yourself that top title and be generous with the titles you give others too. It will make them feel valued, empower them and can get you a discount on wages too!