Pat Hiban hasn't always been a real estate investor. He spent 25 years as a real estate agent. He was Remax's #1 Agent and later Keller Williams' #1 Agent. However, he chose to leave his career as a successful realtor and become a real estate investor. Pat built a great team as a real estate agent and proceeded to build an even better team as an investor. On this episode, hear why Pat left selling real estate to become an investor. You'll want to listen in as he draws from his years of experience in the market as a realtor and an investor to give his opinion on where the market is now and where he believes it is going.

Why successful people build teams

Pat attributes his success as a real estate agent to building a team. He hired people based on their strengths and placed them in job positions where they would excel. It was this team that propelled him to his #1 position in sales. He says that successful people build teams to allow them to focus on what they are best. As a real estate investor, Pat believes that he should focus on his highest use. He chooses to spend time on things that no one else can do. He focuses on delegating tasks and ensuring others are doing their job. When his team is performing as it should, Pat is free to work on his business and not in his business.

The benefits of becoming a real estate investor

Becoming a real estate investor had many benefits for Pat. He felt liberated to walk away from the duties and hands-on nature of being a real estate agent. His transition from a realtor to an investor came at a time where selling homes was not fun or lucrative for him.

Horizontal income attracted him to real estate investing. Though it is not entirely passive, it paid his living expenses by bringing in a steady amount of money each month. In addition to horizontal income, real estate investing also brings in money when properties are sold. Pat has found that his investments in real estate have played out much better than his other business ventures and have much greater returns.

What Pat is seeing in the real estate market

When asked what he is seeing in the real estate market, Pat answered: "Cranes." There is a massive amount of construction, and cranes are everywhere building real estate. He sees growth and massive inventory being added. Multifamily properties are built left and right. He wonders if there is enough demand for this and thinks that with all this real estate growth, it will force rent down in other investments because of the competition.

Many of Pat's investing friends believe the market has 3-4 more years of growth. Pat points to the government and economy as indicators of the market. However, Pat is personally more concerned about where the market is going. He advises those breaking into the market to be prepared to" flip and get out" or be ready to "sit on it."

How technology has influenced the real estate market

Pat Hiban explains that compared to past upward trends in the market, the public now seems more comfortable investing in real estatet. One large factor contributing to this is technology. There is more information to be accessed about the state of the market and how to break into it. Podcasts, blogs, and forums online provide knowledge to the average person. The public can locate educational resources concerning real estate online on computers, tablets or phones. The internet has allowed people to find and buy homes where they don't live, electronically. With this information, people feel as though they are making more informed decisions.

In This Episode Pat Hiban says...

• [2:20] Pat's story: From agent to investor
• [4:30] The key to Pat becoming the #1 real estate agent with two companies
• [6:37] How Pat chose people for his real estate team
• [11:07] The importance of delegating and focussing on your highest and best use
• [13:25] The tasks Pat is currently focused on and why
• [18:36] Why he made the switch from being a real estate agent to an investor
• [26:25] The benefits to investing in real estate as opposed to small businesses
• [29:17] What he is seeing currently in the real estate market
• [38:34] Technology's effects on the current real estate market
• [44:16] Pat's advice to those hoping to break into the market

Resources Mentioned In The Episode

• Jonathan (at) MultifamilyLaunchpad.com - Learn to be an asset manager and Investor
• Bellwether Enterprise(sponsor) - contact Will Oldham [email protected]
• Real Estate Rockstar Radio - www.HibanDigital.com
• www.FreeSixStepsBook.com

Connect with Pat Hiban

• www.PatHiban.com

Connect With Jonathan and Real Estate Launchpad

• To invest with me go to www.TwoBridgesMgmt.com/investors
• To learn from me go to www.MultifamilyLaunchpad.com
• Join my free Facebook community

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