EP. 30 // How to Create Massive Wealth Through Multiple Revenue Streams w/ Robert Vazquez
On today’s episode we have the founder and CEO of Countrywide Realty Partners, Real Estate Investor Robert Vasquez. Robert Vazquez is a storehouse of experience, spending over 15 years in the business as a serial entrepreneur, a national speaker on real estate, finance, distressed property, debt/equity, real estate investments and construction. On today’s episode, Robert talks about how the 2008 recession took him from multimillionaire back to square one, how working in the mortgage industry has given him experience in every aspect of the real estate process, and the massive money that can be made with creative investing strategies.
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Key Points from This Episode:
Robert pays six figures a year in mentorship: he tried to do things himself originally and hit every roadblock imaginable, he wishes he started mentorship sooner! Pay the smartest person you know to give you the answer and you’ll compress time by leveraging the expertise of others. David says unpaid mentorship is only as good as you can shmooze; paying for mentorship and mastermind groups is what tripled his business.
Robert has been in the industry for almost 20 years, starting in 2003. The best way to make a best friend is to give a fat return. Nurture relationships and set appropriate expectations; even go so far as to let people know that unrealistic returns are not sustainable or the norm!
If you can spot differences in markets you’re able to capitalize on changing market conditions. Losing a lot in a market downturn gave Robert the perspective and knowledge to earn it all back. His advice is that setting your intentions matters: who do you want to be in 5, 10 years? Picture that person, set your intention, capture that vision, the career will take you there. There’s nothing wrong with failing, there’s something very wrong with quitting! Entrepreneurship is a series of getting knocked down and getting back up.
Robert ran away from home at 14, married at 16, a father at 17, and was in the military by 18. When he got out he got into the mortgage industry. It shifted his perspective to see opportunities. But making $100,000 a month with no financial literacy kept him in a position where he was spending irresponsibly and left him unprepared for market downturn.
The market downturn taught Robert to never spend money before it comes in. He was 23 when the market tanked and within 4 months he lost his house, his car was repossessed, and he lost it all, with four children to take care of. He was humbled.
Robert went back to mortgage and learned about distressed debt and short sales. He did his first short sale and learned through the banking side. Loan officers transferred to loss mitigation; 1% loss mitigation turned to 80-90% and there was a completely new training necessary for this shift in philosophy. There was a lot to learn! He earned $122,000 on his first short sale
He kept doing short sales and before he knew it he was teaching others how to do short sales. He started training realtors and soon became the Short Sale King. He started a nationwide company, outsourced his operation to the Philippines, and kept learning about money and finance.
He flipped his first non-performing note soon after. He then began flipping debt.
Countrywide Realty Partners began by selling notes to hedge funds. He had the idea of utilizing his network of realtors and gave them REO opportunities. He was a subservicer to do door knocking, cash for keys, and took the listings over. Non-performing notes through foreclosure.
If a bank has already started a foreclosure, Robert’s company could “inherit” the foreclosure and would inherit the attorneys that were already paid their fees. They would continue to build their own REO portfolio this way
As the market stabilized and larger hedge funds noticed the opportunity, banks started trading back to them. Auction.com got involved in the non-performing notes space; this was pushing into Robert’s market. Discounted Payoffs, non-performing notes for commercial real estate, was where Robert began buying debt. He saved hotel owners millions of dollars by selling the debt back to them.
The mortgage industry has helped him see the financing aspects from the front end; the additional research has been the metrics of the lending side and what affects lending. Because of COVID there is an additional wave of foreclosures hitting the market.
Relevant Links from Today’s Episode:
ABOUT ROBERT VAZQUEZ
Robert Vazquez is a serial entrepreneur, a national speaker on real estate, finance, distressed property, debt/equity, real estate investments and construction. Mr. Vazquez is the real estate broker, founder and owner of Countrywide Realty Partners, LLC, a firm dedicated to helping homeowners and investors buy, sell, invest and manage their real estate holdings. The firm however specializes in REO properties and the subsequent management and disposition of said assets. Mr. Vazquez has long standing relationships with several hedge funds, servicers, tax certificate firms and national lenders who lean on his expertise for guidance of distressed debt and reo assets and the management and disposition of the properties.
Mr. Vazquez manages and owns several investment firms, a construction company, a title / escrow company, insurance company and most recently became a direct lender in the state of Florida. Mr. Vazquez has over 15 years of residential, commercial and investment financing experience.
