EP #76 Large Team? Small Team? 15 years of Investing tips with Flip Empire’s Alex Pardo

Alex Pardo is a family guy, entrepreneur, real estate investor, coach, adventurer, sports enthusiast, and love helping people. He is the founder of FlipEmpire.com and its parent company, Creative RE-Solutions, LLC, and have flipped well over 300 properties.

He graduated from college in 2002 with a Finance and M.I.S. degree, and went to work for General Electric’s Financial Management Program (in their Consumer Finance division). At the time, he had aspirations of becoming a CEO of a Fortune 500 company, but sometime during his third month on the job, after working an average of 75 hours a week, he quickly realized that he wasn’t going to create the lifestyle he envisioned working for someone else. He completed my two-year commitment to the company, and fired his bosses in January 2005. A few months later, he went backpacking around Europe & Africa with a few buddies, and while partying in Ibiza, Spain, he received a call from a friend who invited him to a “Marketing for Deals” boot camp that coming month.
That was his “fork in the road”. He had financed my 3-month trip on my credit card, was in debt, and had no income. The cost of the event was $997, and after a few minutes of internal debate, he bought the ticket, and booked his flight. He had committed to start a real estate business, and was going to make it happen one-way or the other. Less than two months after that boot camp, he closed my first deal and made $44,000 (which almost replaced his income with GE)!

Key Takeaways:

‘Don’t make big business decisions based on what you see others do’.

Alex shares a bit about how he got started in a ‘wholesaling’ business at age 12. How did he learn about real estate and did he get his first deal? In college, Alex realized that he wanted to be a CEO and run his own business. He began to self educate about real estate by reading books, watching materials and using other important tools to learn more about running a real estate business. What are some self practical things Alex has taken from the self development journey to become a real estate investor? Alex talks about the importance of figuring out things and people that work for you and with you. Keeping habits that fit not just his schedule but also empowers him and his choices. Why does Alex think it’s important to invest in reasonable business relationships? Alex says that understanding the difference between people who are “how can I help” v “what can I receive” will go a long way in cultivating healthy business and personal relationships. 

What’s going on in Alex’s business world? He has been wholesaling for the past 15yrs but it wasn’t until 2011 that he began to share tasks with other people that could help. When Alex began to include people on his team, he had about 8 people but after a while, he began to rethink the necessity of 8 teams members and that was when he made the cut to 4. What does Alex think about Small team v big team in wholesaling? Every business and its owner have a model and every decision taken has to fit that model. So you have to ask, What do I want for my business and why? Whether you opt for a big team or a small team, make sure you hire the right people for the right roles because hiring the wrong people is worse than not hiring anyone at all. A big teams doesn’t mean more money and neither does a small team mean less money.

Why did Alex start a mastermind? Alex believes that it is a vehicle and tool that helps him do what he’s most passionate about. Nothing beats working with the right people and helping them achieve their goals. Also, being part of a community that values you is very important. How does Alex view value? Alex advices that if you are investing in yourself and you’re paying to be in a room, make sure you’re not with people who are not willing to pay to be in that room. What’s Alex’s next big thing after Corona? What will Alex do if he had to start from the beginning with just $500.

Mentioned in this episode:

How to get started and scale your wholesale business during this crisis. If you are looking to take the leap and really learn this business online, get started at Wholesale Mastery

Connect with Alex:

https://flipempire.com/

https://www.ascendyoursuccess.com/

https://www.linkedin.com/in/alex-pardo/

https://www.youtube.com/alexpardo

https://www.instagram.com/alexpardo25/?hl=en

https://podcasts.apple.com/us/podcast/the-flip-empire-show/id1120765959

 

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