Don’t try to be something you are not. Focus on what you are good at and develop that skill to be better at it than anyone else.
Peter Vekselman is the Owner/Principal of three Atlanta area businesses including RBP Investments, Coaching By Peter, and The Muse Group affiliated with PalmerHouse Properties. Peter has been involved in Real Estate as an investor, contractor, developer, and lender for more than a decade. He has bought and sold more than 3000 properties, and his construction company has handled 100+ projects. As a private lender, he has managed a portfolio of over $10 million. He holds a degree in Finance from Miami University, and is based in Atlanta with a vast business network across the USA. Recognized as national leader and expert in residential real estate investment, Peter has been quoted in numerous articles and magazines on the real estate industry. He is a sought after speaker and has spoken to dozens of groups and organizations. Peter’s companies seek out opportunities for both real estate buyers and sellers. His Vekselman Coaching division helps real estate professionals learn how to increase their profits by adding real estate investment to their business offerings. Peter is a serial entrepreneur who offers a unique prospective on business success. He is a frequent guest on radio programs and podcasts dealing with small business.
Where did the idea for RBP Investments come from?
I had successfully run a vending franchising company and sold that to a large conglomerate. Then I moved on to mobile home parks which did well for a while until the great recession hit and it became nearly impossible to get financing on mobile homes. It seemed like a natural progression to go into real estate. I started investing in real estate some 15 years ago. I found that this was my niche. I love making deals and over time I became especially good at it. Since then I have hooked up with real estate agents nationwide who participate in deals with us. I also created a new way for real estate agents to do business with property sellers called the TriFecta Model. This new model is a real disrupter in the industry. It turns real estate agents into true consultants where they help consumers sell their home through a quick sale, list it themselves, or sell it through traditional methods. I also started Coaching By Peter to help others learn how to properly invest in real estate and make a large income doing so.
What does your typical day look like and how do you make it productive?
I start very early in the morning, around 4:30am or so. It is a quiet time when I can get a lot done and prepare myself for the day. Once the business day actually begins I field dozens of calls and texts, many with offers to buy and sell properties. I also budget my time to work one-on-one with real estate agents and others who want to learn about investing. I do a lot with Skype and other forms of conference calling. I also spend time with my team to make sure they are up to date on everything going on. I also do a lot with social media and video, and budget time to ensure our message is properly positioned in the marketplace.
How do you bring ideas to life?
I like to put great ideas into action and move quickly. I have a great team behind me to help in the process. I have a CEO or operations person overseeing the investment arm and our relationships with real estate agents. I have a team of negotiators who get the best deals possible for us. I also have a team of marketing people who keep in touch with property investors and property sellers. I also have a videographer and others who help build our brand and bring new clients into the company.
What’s one trend that really excites you?
It is this new model we created called TriFecta. It’s becoming a larger trend in the industry and enables a real estate agent to serve as a true consultant with the consumer or home seller, and give them three options to sell their property. The agent will meet face-to-face with the home seller. He then can offer to buy the home from the seller an at agreed upon price and help the seller avoid the hassle of traditional listing services, open houses, social media postings etc. A second option is help the home seller list it themselves and give them advice and guidance on how to facilitate the process. Thirdly the home seller can always list it in the traditional manner. The agent can help them work with listing services, stage the home correctly, etc. More and more agents are learning about this process and it is becoming a real disrupter in the industry.
What is one habit of yours that makes you more productive as an entrepreneur?
It’s the ability to focus. To do the one thing you are very good at and develop that skill to be the very best at it you can. For me I am very good at selling and marketing. An example, many entrepreneurs think they need to learn all there is to know about accounting, marketing, business operations etc. They waste dozens of hours and energy working on things they never will be proficient in. For instance if you are a 60-70 out of 100 in sales, you should focus your efforts on becoming an 85 or 90. By getting better in this one skill, you can greatly improve your company growth and overall results. You can always build out your team with others whose skill set complements yours. You can hire out accountants, HR people and other professionals to make you more efficient and more productive. I even have a team of negotiators who are very good at it, better than I am, and that helps keep our entire operation flowing at an extremely high level.
What advice would you give your younger self?
Two items. Don’t try to be something you are not. Focus on what you are good at and develop that skill to be better at it than anyone else. And, find a mentor, someone who has already accomplished what you seek to achieve. You can model their behavior and get some real insight into what it takes to become extremely successful. They can help you along the way and offer advice and guidance so you can avoid many mistakes.
Tell us something that’s true that almost nobody agrees with you on?
I was on the both the varsity wrestling and tennis teams at Miami University.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Commit to a plan and stay with it. A lot of entrepreneurs jump from one thing to the next always looking for a pot of gold at the end of the rainbow. In real estate investing especially, would be investors read books, go to seminars, and listen to CDs trying to figure it all out. They try one thing, then jump to something else because someone told them to do it. It is easier to work one-on-one with a professional who can guide you through the process and keep you on-track. That is why we have Coaching By Peter. It is a service where we work one-on-one with people to really help them succeed as a real estate investor.
What is one strategy that has helped you grow your business? Please explain how.
It is staying focused and committing to a strategy. Once you do that you have a game plan, have a direction, and have more energy to accomplish your goal. We do that with our own companies RBP Investments and Coaching By Peter. Everyone knows what their job entails and it frees the top people to do what they do best and help grow the company.
What is one failure you had as an entrepreneur, and how did you overcome it?
I read a book about how the author became very wealthy by owning mobile home parks. I tried to follow in his footsteps but the timing was horrible. It was right before the recession and financing just dried up for everyone in the industry. It became impossible to maintain that business and so we walked away from it losing well into six figures in the process. I rebounded by using my skills in marketing and sales and got into real estate investing. I started small and made some mistakes, but after a while it started to click and now we have one of the biggest real estate investment firms in the South with affiliates across the U.S.
What is one business idea that you’re willing to give away to our readers?
Naturally I think setting up a real estate investment company is a great business. Most real estate, not all, will appreciate in value over time. There are a lot of folks who are looking to invest their money from all walks of life and real estate is something that always make sense for them. The key is to learn how to buy and sell properties and find investors. One needs to do so without making mistakes or losing a lot of money.
What is the best $100 you recently spent? What and why?
Thank you cards. It helps keep in touch with clients and shows that you care about them which we do.
What is one piece of software or a web service that helps you be productive? How do you use it?
Skype. It helps me do meetings with clients and prospective customers as well as media interviews. It is a great tool that helps you become visually involved in any conversation and get a better read on what the other person is thinking or wants to communicate.
What is the one book that you recommend our community should read and why?????
“E-myth” by Michael Gerber. Great book on how to start and grow a business. Also great advice on how to learn to work on your business as opposed to in your business.
What is your favorite quote????
RBP at Facebook :
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.