Armin Missaghi Owner and Founder of LA Design Build, has ridden the waves of a tumultuous real estate market and emerged to build a multi-million-dollar business.
Missaghi immigrated to the United States at age eight-teen. He attended community college for business administration. By the time he was twenty-three, he had his real estate license and had gained experience in construction and design. He began working as an independent entrepreneur when he purchased his first home in 2003. He renovated the home and sold it eighteen months later.
Over the next two years as a licensed real estate Agent with in-demand construction and design skills. Armin bought, renovated, and flipped thirty additional homes. As a result of seeing the impact of his work and getting feedback from his clients and colleagues, Armin launched LA Design Build.
LA Design Build thrived over the next four years until the market crashed in 2007. Armin pivoted his business. Due to his brilliant understanding of the market, Armin Missaghi’s strategy was to pivot his business to remain strong and solvent through the crash.
LA Design Build was built on the strengths of Armin’s integrity, creative design, and construction expertise. There was no doubt that his talent would be in demand. He shifted his business model and began working with construction investors. As many other businesses suffered tremendous losses during the 2007 crash and beyond, LA Design Build experienced growth while establishing the business and growing his brand. By the time the real estate market began to recover, Armin Missaghhi returned to his prior business model as an independent entrepreneur. His insight into the market and business intuition developed LA Design Build into the multi-million-dollar company that it is today.
Where did the idea for LA Design Build come from?
When I first started as an independent entrepreneur I was getting a lot of compliments regarding my work. My homes were selling much faster than any comparable homes on the market. By seeing the results and getting feedback from my clients as well as my colleagues, I concluded that I was doing well and I was inspired to launch LA Design Build.
What does your typical day look like and how do you make it productive?
I work with subcontractors, designers, architects, and contractors. I plan my day based upon the priorities for each project requirement. I meet with my managers responsible for making sure that everything is going according to plan.
How do you bring ideas to life?
My ideas come to life most effectively when I meet with my clients to get a feel for what their visions are. After we have their vision, we add some cool concepts that will be a value add to the project, then conceptualize these designs into reality.
What’s one trend that excites you?
My favorite trends are modern designs in homes, specifically kitchens and beautiful modern architects. Modern kitchens are the best.
What is one habit of yours that makes you more productive as an entrepreneur?
I am very persistent. I don’t see anything as a “no.” If I want to get something done I find anyway and every way to get it done.
What advice would you give your younger self?
I would tell my younger self to diversify. As an entrepreneur and a developer, if I knew what I know now, I would not have sold the properties. I would have kept them and diversified the business into real estate holdings and construction.
Tell us something that’s true that almost nobody agrees with you on.
I believe in transparency upfront with my clients. I give them the whole package. I give the entire idea and a realistic budget. What I propose is what they get. Other contractors or developers believe in getting in the door first then they come up with additional work orders or find other ways to make their money. I have always been against that kind of behavior. I believe in transparency right from the start.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I would recommend that everyone become astute at being able to assess the market as well as the projects. And, be able to pivot when necessary. I am pivoting right now. It has proven to have been very successful.
What is one strategy that has helped you grow your business?
Working with very professional subcontractors. Throughout all of my years in the business, I have always had a really good team. They are professional, reliable contractors. I have had the best of the best. They have been the pinnacle of my success.
What is one failure you had as an entrepreneur, and how did you overcome it?
One thing that I should have done early-on was diversified my business. I want to overcome it by growing businesses where if one business is affected by the market, the other business will still be functional.
What is one business idea that you’re willing to give away to our readers?
I would tell anyone to invest in multi-residential businesses. I believe that is one of the most profitable businesses out there.
What is the best $100 you recently spent? What and why?
I am a firm believer in the digital age and good software. I always invest in software to enhance and grow the business. I recently purchased software that conceptualizes 3D designs.
What is one piece of software or a web service that helps you be productive?
We work with a lot of software daily, The best one is GLIP from RingCentral. It is a work management software. I have my whole team on GLIP. Without it, I would not be able to do business.
What is the one book that you recommend our community should read and why?
The 80/20 principle by Richard Koch. It is the secret of accomplishing more efficiently in less time.
What is your favorite quote?
Treat people the way you want to be treated.
● Every entrepreneur should be astute at assessing the market.
● If you diversify, grow businesses where if one business is affected by the market, the other businesses will still be functional.
● Be able to pivot your business when necessary.
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.