Felton Leagons is a real estate entrepreneur and the founder of LGI Real Estate. He has over 2 decades of experience in the construction industry, 15 of them in the California Real Estate industry. Leagons got his start in construction while still working at the California Institute of Technology’ HVAC and plumbing department. He worked at this institution for 6 years up until he got his real estate license. Armed with the license, Felton started out by helping investors develop their portfolios, homeowners sell their properties, and first-time homebuyers make the right decisions. With the skills he had developed over the years, Felton then moved to take advantage of the real estate boom by creating a team of professionals that could handle all aspects of real estate transactions at scale. The team was a huge success and helped the company earn repeat business through referrals. Felton continues to grow the business by investing in relationships with investors, home sellers, and first time home buyers. Through his extensive industry-knowledge, Felton continues to meet and exceed customer expectations. Felton has made LGI Real Estate the go-to company for first-time homebuyers, investors, and those looking to sell their homes fast.
Where did the idea for LGI Real Estate come from?
I got the idea for LGI Real Estate while working at the California Institute of Technology HVAC and plumbing department. The real estate industry boom started and I dived in. With my HVAC background, the transition to real estate was easy, and the success of LGI is a testament to this fact.
What does your typical day look like and how do you make it productive?
My typical day entails meeting with my team to catch up on the deals in progress, and networking with potential clients. To make my day productive, I finish up with the staff meetings in the morning hours, then spend the rest of the day prospecting for new business. This approach helps me focus on growing the business by not getting caught up in the nitty-gritty of everyday transactions.
How do you bring ideas to life?
I am always out networking and if I find a new interesting idea, I try it out immediately. I learned long ago that delays on implementation lead to analysis paralysis and one ends up missing out on valuable growth opportunities.
What’s one trend that excites you?
I am most excited by the growth of platforms like Airbnb. They have unlocked new growth areas for real estate. I foresee more growth post-COVID-19.
What is one habit of yours that makes you more productive as an entrepreneur?
That would be my time management skills. I wake up very early and workout. I then get to the office by 7 a.m. and respond to all important correspondences. By 11 a.m. I am usually through with internal meetings and spend the rest of the day seeking for ways to grow the business. So far this approach has been successful.
What advice would you give your younger self?
I would tell my younger self to always be on the lookout for new opportunities and grab them without hesitation. Sometimes such opportunities will see you dive into unchartered territories, but that is how you grow and become a better person.
Tell us something that’s true that almost nobody agrees with you on.
I believe that the real estate industry will become tokenized, a process that could unlock massive liquidity in the industry. While most of my peers think it’s an idea that is just out there, the exponential growth of blockchain technology paints a different picture.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I am always meeting new people and sharing business ideas with them. This approach helps me gain new business ideas, and also develop deeper insights on how to grow my business. I would recommend all entrepreneurs to try the same.
What is one strategy that has helped you grow your business?
I aggressively pursue a customer satisfaction strategy. Whether a person is buying or selling a home, I always see to it that we meet and exceed their expectations.
What is one failure you had as an entrepreneur, and how did you overcome it?
I dived into the real estate industry without first learning the game well. This hurt my business in its initial stages, but I didn’t give up. I purposed to learn, and I managed to turn my failures to success.
What is one business idea that you’re willing to give away to our readers?
I wish I had one. However, I would advise aspiring entrepreneurs to always network with successful entrepreneurs. You learn a lot and can apply some of their skills when a viable idea finally comes your way.
What is the best $100 you recently spent? What and why?
I give a lot to charity and recently I spent $100 on food donations to a local charity. It felt good helping cushion the poor in these tough times.
What is one piece of software or a web service that helps you be productive?
I have been using Zoom a lot in the last 3 months. It’s quite efficient and I intend to keep using it in my interactions with staff and clients.
What is the one book that you recommend our community should read and why?
I would recommend Good to Great: Why Some Companies Make the Leap…And Others Don’t by James C. Collins. It offers valuable insights into what separates successful companies from failures.
What is your favorite quote?
My favorite quote is there’s no shortage of remarkable ideas, what’s missing is the will to execute them by Seth Godin. It reminds me to always act on my ideas.
• Customer service
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.