As a property investor, you might think you’re in the real estate business. You would be mistaken. You’re actually running a finance company, powered by real estate. The problem is: many investors don’t realize this and neglect their finances until it’s too late.
Financials are the most important aspect of the business. Not paying attention to your numbers is like driving with a blindfold on - you will crash. This understanding of numbers is what makes CPAs such great business owners, when they choose to escape the cocoon of the corporate job. That’s what today’s guest did, and in 5 years, he was able to scale to 900 deals without syndication.
How did he find his way into real estate? Why is it mission critical to understand our numbers? In this episode, CPA turned entrepreneur and co-founder of CityLife Residential, Casey Ryan Quinn talks about why we need to think like accountants and how to set up a strong back office in your business.
We’re not a real estate company - that’s just the vehicle. We’re really a finance company. -Casey Ryan Quinn
Three Things You’ll Learn In This Episode
-Control every piece of the puzzle
Casey and his team were able to scale to 900 BRRR deals and over $100 million. What’s the secret to scaling fast?
-A case for overpaying
Many flippers chase cheap goods and services thinking it will save money. All it does is slow down the process and make capital more expensive. What should we do instead?
-The most important resource
There are many tasks we do in our lives and businesses we could delegate to someone else. How do we overcome the mindset blocks that stop us from taking them off our plates?
Guest Bio:
Casey Ryan Quinn is a Pittsburgh-based CPA turned entrepreneur. In 2019, he co-founded CityLife Residential, steering the company as CEO to a staggering portfolio of over 850 residential units valued at over $100 million in under five years. This phenomenal expansion has placed CityLife Residential as Pittsburgh's third fastest-growing company between 2021 and 2023, and notably the fastest in the real estate sector. Beyond CityLife, Casey has co-founded Accruity, offering specialized accounting services to the real estate industry, where he remains an active board member. His entrepreneurial spirit also led him to co-found and partner in a REMAX franchised brokerage, further diversifying his real estate ventures. CityLife Residential stands out as a comprehensive residential real estate investment firm, boasting an impressive track record of over 500 real estate investment transactions. The company offers an array of services including construction, property management, title and settlement, and real estate sales. Casey's leadership extends to managing a vibrant team comprising more than 50 staff members and over ten virtual professionals, with a focus on fostering a strong company culture, strategic leadership, and efficient capital management. For more information, go to caseyryanquinn.com and follow @caseyryanquinn.
