Eric Siu runs a business in 90 minutes a week by delegating to recurring meetings like L10s and an investment committee, only jumping in when problems surface. He reviews 500 to 700 inbound opportunities yearly and underwrites 2 to 3 deals per week.
Essentially, I run the whole business on about 90 minutes a week. Then all the other noise that comes in through emails and stuff like that, if we're not in a closing, all goes into Tuesdays at 11:00. And then we do an investment committee meeting the same way. And so there are operations meetings that I'm sometimes on, sometimes not on. If we have a problem and we have plenty of them, I'll jump into one. So like we have that stuff for our property management company, we have that stuff for our asset management company. So those meetings are going everywhere, but I'm not in all of them.
So you're playing free safety where you need to, but then there's one standing meeting you have, which is the L10.
Yep, the L10 and the investment committee, because that's a big one. The investment committee is essentially the acquisitions guys are out, they're meeting with the brokers, they're bringing— we have deal flow coming in, we're underwriting stuff. And then I'm looking at maybe 2 or 3 a week. And how many inbound are you getting per week? We'll look at 500, 600, 700 a year.
