From Realtor to Successful Real Estate Investor
For today's episode, I gladly welcome realtor turned investor Bentley Pugh, who joins us to discuss his incredible journey in life and business so far. In 2006, Bentley sold his landscaping company and became an agent most interested in commercial real estate. Since then, he's evolved from a real estate broker to managing his family-owned real estate investment firm, Beachworks LLC.
At first, we learn how Bentley's backstory has profoundly impacted his career and business. He studied business and marketing, and while in college, started a landscaping company to have a passive income source. He spent the next five to six years as a realtor and then turned to real estate as an investor. Bentley has shared with us today why he chose to do that and how the pivot helped him in the long run.
He shares how having the capital to start with was advantageous for them as it was rare for anybody just beginning to have enough to invest. Bentley also shares why it is essential to keep adjusting to the market's changing trends and ways. We discuss why it's important to know both knowledgeable and neutral people in life and how both can positively shape your path. If you know smarter people, you could get valuable tips to scaling and expanding your business, and if you have friends and mentors outside of the business, you have a fair chance of getting unbiased, heartfelt input from them.
Bentley also shares how relationships with contractors and others in the business are extremely important. Your business can have phenomenal growth if you find people who are really into it. He also discusses his plans and where he wishes to take his business moving forward. He still focuses on their core business, which is single-family, construction, or townhome sites, while still doing some wholesaling and flipping of properties.
We also learn how these unprecedented times of the pandemic have added to his choices on spending. Bentley has cut his expenses by 10 to 15% by filtering out what he doesn't need. He stressed what an important lesson this is for each of us to benefit us in life and business.
Please tune in to the Just Start Real Estate Podcast to know all that this extraordinary businessman has shared with us today and take your business to another level. Do not miss out on this insightful episode with Bentley Pugh!
Notable Quotes:
“We can't use our new construction contractors on a flip because they're just not into that. ”
- Bentley Pugh
“For us, we had capital when we started out, which was very rare at the time. We were going after large, untitled, distressed development properties.”
- Bentley Pugh
“Real estate's sort of like a chameleon - you have to be constantly adjusting and thinking where the market is going to go.”
- Bentley Pugh
“Don't try to change the recipe. If the recipe works, use it. If you apply it and it doesn't work as well, then change it for sure.”
- Mike Simmons
“During the pandemic, I've cut my spending probably 10% to 15%. It isn’t really affecting my business.”
- Bentley Pugh
“You surround yourself with some people that are smarter than you, they answer your questions, and then you can feed the end results to your buyers”
- Bentley Pugh
“So it's really all about relationships. Our relational foundation is a model that has never changed.”
- Bentley Pugh
“Helping people helps to reinforce what you already know. It also makes you realize some of the things that maybe you're not doing as well as you used to do.”
- Mike Simmons
Links:
Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
