CFD 519 – Bob Lachance On Building Your Real Estate Investing Team

February 28th, 2019

Bob Lachance has been an active business owner and real estate investor since 2004. Bob is an entrepreneur by nature and currently owns, operates and manages many different businesses around the world. Bob helped create one of the top Real Estate Coaching and Mentor programs in existence today and also created one of the premiere Virtual Assistant Staffing companies, REVA Global LLC. Bob is an expert in the real estate investing space and has an incredible reputation for creation, implementation and execution.

Bob Lachance is a sought-after mentor and industry expert, lending his voice to countless real estate investors, startups and entrepreneurs looking to take their businesses to the next level. Prior to getting into the business sector, Bob had a successful 8 year professional ice hockey career which allowed him the privilege of traveling and living all over the United States and Europe. Bob was also a member of the 1995 National Championship Boston University Ice Hockey Team.

Podcast Highlights

  • Who is Bob Lachance?

Bob is definitely not a Harvard grad but he would say he is a coach. He’s played pretty much every single sport in addition to hockey and in each instance Bob’s father was the coach where his coaching style was to coach each child the same way. His motto was “each kid is going to get as good as they are going to get, not as good as their parents wanted them to get.”

As much time, energy, and effort as you put into something will determine how good you’re going to get. Bob was born to coach and help people.

  • Why was real estate the thing for you after hockey?

Bob went to Boston University on a full scholarship but when you get something like education for free, you tend not to take advantage of it. After choosing to play for the St. Louis Blues instead of completing his education, Bob didn’t have much to fall back. After searching the internet for careers that didn’t require a degree to get into and real estate kept coming up, he decided to jump in with both feet.

At the time of Bob’s first purchase, he was missing a lot of resources and knowledge but he figured it out as he went along.

Goal setting plays a major part in your success. Setting small goals and attaining them will give you the fuel to keep going. If you want to really accomplish something you have to give it your full effort and stop listening to the naysayers.

The 2008 recession was the perfect example as to why passive income is so important.

  • What’s your favorite part of investing in real estate?

When Bob started he had no systems or processes to keep attaining his goals. He knew he needed to create those things so he started looking for a team to join. Bob believes that you are only as good as your team.

After running a number of short sale transactions, Bob and his partner started looking for what they can add to help more investors become successful. This drive lead to Bob’s many coaching programs as well as his virtual assistant company.

REVA Global

Real estate is essentially a very simple process that has five steps: Marketing, Lead Intake, Deal Analysis, Offers and Contracts, and Selling the Property. REVA Global trains virtual assistants to take different tasks off your plate.

The top tasks for REVA VA’s in short term rentals are managing the CRM and coordinating maintenance. Minor repairs can take up a crazy amount of time out of your day and a VA can take care of all of that for you.

  • Transitions

Problem solving is the ultimate skill. There is a million dollar business no matter where you go. In the end it’s about filling a need.

Coaching and the communication behind it has been a very important skill set that Bob has transferred over from hockey.

  • Bob’s Takeaway

Get educated in what you want to do. Education and mentoring are the first things that Bob would do. Take a course and then implement it. Learn it, live it, gift it.

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