In this episode, Palak dives deep into one of the most important aspects of real estate investing: managing team dynamics and knowing when to let go. As real estate investors, we often struggle with tough conversations, but what happens when the team that helped you start isn't the team you need to scale?
Palak explores why letting go of team members who no longer serve your business isn't just about making tough decisions but about protecting your mental health, maintaining your reputation, and building a culture of excellence.
You'll discover the exact three-step process for managing team transitions, why your reputation is everything in this business, and how to maintain professional relationships even when parting ways.
Whether you're scaling your portfolio, just starting out, or even not investing in real estate yet, this episode provides the blueprint for building and maintaining a high-performing team.
"Your reputation is everything in this business. Keep all interactions professional, no matter what." - Palak Shah
In This Episode
00:01 - Introduction
00:48 - Why We Ignore Red Flags
02:17 - Dealing With An Unsuitable Property Manager
03:49 - Let Go of The Guilt
04:21 - 3-Step Process for Tough Conversations
04:30 - Stop Ignoring Red Flags
05:03 - Have A Conversation
06:02 - Navigating a Tough Conversation with A Contractor
07:42 - Letting Them Go
08:50 - Common Red Flags to Watch For
Resources:
- Free training - https://openspacesacademy.com/access
- 5-Day Real Estate Investor Accelerator - https://www.theinvestoraccelerator.com
- Get a copy of Accelerate Your Real Estate - https://a.co/d/bdW6j7K
Connect with Palak and Niti
- Website: https://www.openspaceswomen.com/
- Instagram: https://www.instagram.com/openspaceswomen/
https://www.instagram.com/openspacesacademy/
- Facebook: https://www.facebook.com/openspaceswomen
- LinkedIn: https://www.linkedin.com/company/openspacescapital/
- YouTube: https://youtube.com/@openspaces1251
