Episode 108: Hard Lessons Learned in the Trenches so You Don't Have to, with Bill Reich

Bill started Bright Property Solutions in 2017 at the ripe young age of 71. He and his partner, Joanne, have grown the business to over $1M per year by buying and selling residential properties on terms in the DC/Baltimore area. Bill’s plan is to grow the company to $3M per year by 2020, and then will try to scale back from his 14-hour days to spend more time with his family–including nine grandchildren from his two sons–and indulging in his passions for traveling to different countries throughout the world.

What you’ll learn about in this episode:

• Why it took Bill six months to complete his first deal, due to nervousness and wanting to do extensive research before making a call
• How Bill’s first deal helped him overcome his fears and also helped the seller get out of a tough situation, and how Bill has gotten significantly better with experience
• Which key lessons Bill learned from some of his early mistakes that have helped him streamline his business
• What kind of diverse mix of deal types and properties Bill has been able to add to his portfolio, and why he is seeing even more success today
• Why Bill believes that to be successful you should follow the model of someone else who already has the success you’re looking for
• Why communication and the exchange of ideas with other investors has been a powerful resource for Bill, and why Slack communication has helped strengthen the community
• Why the QLS Live event is going to be a fantastic way to learn from others who are operating in markets all over the country

Additional resources from Chris Prefontaine:

• Website: www.smartrealestatecoach.com
• Profits Matter Mastermind website: www.profitsmattermm.com