Willny Guifarro started wholesaling right after he graduated high school. He shares his struggles getting traction on his business and getting fired multiple times because he was trying to improve himself and learn about wholesaling.
Willny had multiple six figure months in 2019, and did $175,000 just in August of this year.
In this episode, we talk about what happens when you grow too fast. Hiring too many acquisition people, he lost $30,000 in January. Scaling is challenging, and Willny shares his journey.
Video Replay of Interview with Willny Guifarro
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SHOW NOTES
From Scaling To Resetting: Willny Guifarro Shares his Lessons In Growing
With Willny Guifarro, CEO/Founder at Equity of Texas, CEO/Founder at Apex Investment Group
Sept. 9, 2020
About Willny Guifarro
Willny Guifarro is the CEO/Founder at Apex Investment Group and the CEO at Equity of Texas. He began his career in the real estate industry before graduating from high school and completed his first wholesale deal shortly after. Willny operates in Texan and Ohio, and has built his businesses from scratch. He mentors new real estate investors through his wholesaling teaching program, and he is very active on Twitter.
Connect with or find more information about Willny at www.twitter.com/willnyguifarro1 @realestatewill, or www.facebook.com/willny.guifarro.3
Show Notes
Steve and Willny discussed what made Willny get into real estate, how he built his companies, his experiences in scaling up his business, the pitfalls of scaling that no one talks about, and resetting his business and how he reorganized.
Top 5 Takeaways from Willny Guifarro:
5. Real estate is not for the meek — it’s hard work and you have to put in the effort.
4. Don’t get discouraged if you have to make a lot of phone calls to get some contracts. And understand that not all of your contracts are going to close. Real estate is a numbers game, so you have to drive up your numbers.
3. One of the biggest things Willny would change about his real estate journey would be to pay for education when he first made some decent money. Willny said had he done that early on, he would have made much more money and saved hundreds of thousands of dollars in mistakes with deals, employees, etc.
2. Scaling is the new buzzword in real estate investing, but you have to hire the right people. You lose much more money hiring the wrong people who don’t want to work hard than you do developing a system for hiring, training, evaluating, and firing when necessary. Don’t pay a good salary; commission-based pay keeps people hungry. Don’t be in such a rush to scale up that you scale for the wrong reasons, so scale too much too fast.
1. Resetting your business when things feel out of control may be the best thing you can do. Be critical of your organization, your hiring and training, your methods and procedures. If your business has become unfocused, or employees aren’t getting it done, don’t be scared to pull back a little, reset and reorganize, and then dive back into it with clear intentions.Consistency is huge — it helps your employees and it helps you keep on track.
Bonus Takeaway: You will make mistakes! Understand that this will happen, but don’t lose your determination. Learn from your mistakes, plan for tomorrow, and keep working.
About Steve Trang
Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.
Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.
Connect with Steve at linkedin.com/in/stevetrang, facebook.com/stevetrang, instagram.com/steve.trang, stevetrang.com, or realestatedisruptors.com.
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