RE Biz Scaling, Roles, Working with your Spouse
To the folks who have gone from real estate as a lucrative hobby to opting out of your W2 and transitioning to a business-
After you have developed your business plan; the how, the why, and the what at some point you will need to sit down and develop roles and responsibilities. That's where I am; last year I brought in assistance to help with the owner statement data entry and managing getting the income/expenses into the system that we use for tracking. I'm still struggling with this in part because I don't believe I've explained the roles and responsibilities very well. I'm also struggling with defining what my spouse is responsible for. From my experience in the workplace, I believe I am missing the role definition, the responsibilities of the role, and how those responsibilities are measured. So that being said, has anyone sat down and wrote out job titles i.e. Acquisitions/Business Development, Operations Manager, Bookkeeper, with the associated responsibilities, experience necessary, and goals for the position? It would be fantastic if other buy and holders that have gone through this transition could provide some examples of what's worked for them.
Thank you!