Team Structure and Incentives for Underwriters

[Jorge Abreu]

Right from the start, I knew that building a solid team and keeping them motivated was crucial. But truth be told, cash was tight. So, I had to get creative and come up with a strategy that would make everyone excited and eager to give it their all. That's when it hit me: profit sharing and per-deal compensation would be the most effective approach.

I keep reminding my team that, as you continue to grow, a combination of salary and bonuses becomes more viable.

As our business started booming and the cash flow got juicier, I knew it was time for a compensation makeover. Providing a combination of salary and bonuses allowed us to attract and retain talented underwriters who were aligned with our long-term goals.

Here's a pro tip I've learned along the way: matching the right people to the right jobs is gold. I'm not just talking about underwriters here, but every single role on our team.

I believe that underwriting requires a certain skill set and mindset, often attracting individuals with an analytical and detail-oriented nature. For this reason, finding someone who possesses an engineer's mind and loves to work with numbers can significantly contribute to the team's success.

When building our team, I seek individuals who are passionate about underwriting and possess the necessary creative abilities. As I often say, People who are born marketers shouldn't be underwriters. Finding the right person for the job ensures that they can leverage their unique strengths to outdo the competition and maximize our investment opportunities.

By aligning incentives and playing matchmaker with our team, we've created a tight-knit crew of high-fliers. They are the fuel in our real estate engine. Together, we've surfed the waves of the ever-changing market with confidence and adaptability. No hidden gems here—just a bunch of real estate rockstars making it happen.