How To Grow Your REI Business Into New Markets
If you’re interested in being the best real estate investor possible, then you’ll want to know what systems are going to work best. Fortunately, you don’t have to discover the right tools by yourself. Rather than searching for new ways to make money in real estate, you can utilize the processes offered by REIVault.
Today we’re looking at an interview with REIvault member, Javier Hinojo. Although Javier has only been in the industry since 2015, he’s managed to rise through the ranks and become a very successful real estate investor.
This interview provides some valuable insight on how to grow your business, particularly to new markets. Javier manages five different real estate markets, and it didn’t take him long to get to that point. Here’s some of the highlights you can look forward to:
5:30 – Javier’s First Flipped House
To give you some perspective on where Javier started, he lost almost all of his life savings in a corporate scam, meaning that he and his family were on the ropes. They had to move to Mexico for a year to regroup and get back on track. While there, he and his buddy went into business together, maxing out their credit cards to get their first loan.
It took six months, but the pair was able to flip their first house. The total profit from that sale? Only $13,000. However, it was a valuable learning experience, and once Javier saw that he wasn’t going to lose money in real estate, he realized that it would provide a viable path to the future.
So, what does that mean for you? It means that it doesn’t matter where you are now. Even if you are broke or in massive debt, using the systems from REIVault can help you get to where you want to be. Javier had to do it the hard way and learn it firsthand, but you can benefit from his experiences.
10:00 – Javier’s Workload Lightens with REIVault
It’s easy to assume that because Javier started with nothing and he’s now dominating in five real estate markets that it didn’t take long for him to find a winning formula. However, according to him, by January of 2017, two years after starting his journey in real estate, he only had 32 cents in his bank account.
It wasn’t until he started with REIVault later that year when things started to click for him. One of the most significant benefits? Having more time to do all of the detail work and to focus on closing deals.
One of the biggest problems that investors and entrepreneurs face is trying to do everything solo. If you want to work 80-90-hour weeks and kill yourself in the process, then, by all means, keep it up. However, if you want your family to remember what your face looks like, then you need to outsource the work to trained professionals. Once Javier recognized the value of REIVault, his business took off.
After two years of trying to do it solo with no real success, Javier found his stride as soon as he joined the REIVault team. The same can be said for you too if you join.
11:33 – “I’m Always Looking to Fire Myself”
At first glance, this statement may seem counterintuitive, but once you understand the meaning behind it, it can be sage wisdom that only comes from hard experience. According to Javier , there is tremendous value in building systems where you don’t have to be the lynchpin. Just because you’re the one creating your business and building it from the ground up doesn’t mean that you have to be involved in everything.
Learning to let go is a powerful tool that can take a long time for entrepreneurs to master. However, once you learn how to manage people and delegate responsibilities, you’ll wonder why you didn’t do it in the first place.
18:03 “I Wish I Started Earlier with Systems and Processes”
Javier talks about the fact that if he could go back, he would have started on day one with REIVault. Part of the reason is that he learned that by utilizing systems and processes, rather than flying by the seat of your pants, you can move forward much more reliably.
Javier recalls several bad deals he made, partly because he was trying to get a certain number of homes bought and sold. Unfortunately, he wound up having to pay over $100,000 out of pocket for those deals, which was an expensive learning curve.
Fortunately, by using the systems and processes offered by REIVault, Javier isn’t making the same mistakes, and he’s on track to buying and selling 50 properties in 2019.
These are just some of the many nuggets of wisdom in this interview, but there is a lot more inside the video. If you’re interested in learning the mistakes and solutions from two guys who have a ton of experience, then this video is a must-see.
Once you’re finished, go to REIVault.com and see if you are a good fit for the team. Not everyone is accepted into the program, so you have to be dedicated and understand what it takes to be successful. Check us out today.