“An overseer, then, must be above reproach, the husband of one wife, temperate, prudent, respectable, hospitable, able to teach, not addicted to win or pugnacious, but gently, uncontentious, free from the love of money. He must be one who manages his own household well, keeping his children under control with all dignity (but if a man does not know to manage his own household, how will he take care of the church of God?); and not a new convert, lest he become conceited and fall into the condemnation incurred by the devil. And he must have a good reputation with those outside the church, so that he may not fall into reproach and the snare of the devil” (1 Tim. 3:2-7)
“…appoint elders in every city as I directed you, namely, if any man is above reproach, the husband of one wife, having children who believe, not accused of dissipation or rebellion. For the overseer must be above reproach as God’s steward, not self-willed, not quick-tempered, not addicted to wine, not pugnacious, not fond of sordid gain, but hospitable, loving what is good, sensible, just, devout, self-controlled, holding fast the faithful word which is in accordance with the teaching, so that he will be able both to exhort in sound doctrine and to refute those who contradict. For there are many rebellious men, empty talkers and deceivers, especially those of the circumcision, who must be silenced because they are upsetting whole families, teaching things they should not teach for the sake of sordid gain.” (Titus 1:5b-11)
Free from the love of money – Just like he can’t be addicted to wine, he can’t be addicted to money. People do really stupid stuff when they’re motivated by money. You don’t want a greedy man. You don’t want him controlled by his money. Look out for the guy who forgoes every thing in order to have one more dollar. Look out for the guy who isn’t giving financially. A man should have a healthy respect for money.
A man who manages his household well – As best as you can tell, he should be a responsible man. He doesn’t yet have a family, but you should see indications that he would manage his home (his wife and children) well. He should have a reputation, even now, for providing for himself and those he’s responsible for financially, emotionally, and spiritually. He protects his time and money by giving priority to the most important things. He takes care of the possessions he has. He doesn’t trash his car. He doesn’t let his house get into disarray. He doesn’t spend money foolishly. He has a structure and organization to his life.
Not a new convert – You don’t want a new believer, probably for a variety of reasons. You don’t want to be a distraction in his setting good roots in his new relationship with Christ. New believers don’t yet know Scripture well enough to lead. You want time to see what type of believer he’ll mature into. You have to give him time. If you’re in this situation, hook him up with some godly men – don’t become his mentor or discipler. Men should handle the men. Stay in his life – this doesn’t mean you have to completely back away. This isn’t a “Call me in 5 years when you’re the pastor of a church” type situation. This is a “I’m so happy for you and I’m glad we’re friends” type situation.