Ep 33: Overcoming the Hurdles of Building a Turnkey Property Company with Jack Gibson and Jeff Schec
Building a company from the ground up is never easy. From real estate to online retailing and everything in between, new ventures come up against obstacles all the time. While many give up at the first sign of trouble, there are a select few who choose to push through and in doing so, reach levels of success they could have never imagined. Our guests today, Jack Gibson and Jeff Schechter, are the type of entrepreneurs who view failure not as a reason to stop but simply as a sign to keep going and improve. Armed with this attitude, they now have a turnkey property that is well on its way to succeeding.
In this episode, Jack and Jeff share their fascinating backgrounds with us and the serendipitous way they became partners, despite having only spoken on the phone until that point! We also talk about their current venture and the hundreds of things they have had thrown at them. They share with us some of the valuable lessons they have learned and how they have applied them to push their business further towards success. Jack and Jeff are upstanding entrepreneurs who prioritize doing the right thing. This has stood them in good stead as their reputation steadily grows. Be sure to tune in today!
Key Points From This Episode:
Jack’s background in nutrition, how he met Jeff, and how they formed their partnership.
From screw-up to success: Jeff’s background, how he got into marketing and real estate.
Some of the lessons that Jack and Jeff have learned from their tough journey so far.
Jeff’s experience of starting a house-flipping business in 2006 and his takeaways.
Why Jeff decided to get back into real estate despite being burned so hard before.
Without failing, you cannot succeed because failures teach tenacity and perseverance.
Jack’s lightbulb moment: The time he realized he could start his own turnkey company.
Learn about the two biggest mistakes Jack and Jeff made at the start of their journey.
Find out more about Jack and Jeff’s due diligence and all of the aspects that they cover.
What Jack and Jeff did when they realized that there was property mismanagement.
Why it is important to differentiate between ‘fault’ and ‘responsibility.’
The difference between turnkey providers and turnkey promoters.
Some of the reasons that Jack and Jeff have decided to use a fulfillment company.
As entrepreneurs, it’s important to find help so you can focus on what you’re good at.
How Jack and Jeff have gone against the grain of the turnkey industry.
Investor experience is at the forefront of what working in real estate investing is all about.
“If we knew what we were getting into, we would have never done it.” — @jackhighreturn [0:06:17]
“The only way to get to success is to have repeated failures. And the quicker that you can fail your way forward, the faster you’re going to reach success.” — @jackhighreturn [0:20:44]
“We were too trusting and we didn’t verify.” — @jackhighreturn [0:25:03]
“It’s been incredible by what’s transpired by doing the right thing.” — @ReallyShecky [0:38:19]
“You can ask any reasonably successful entrepreneur, ‘What’s your biggest asset?’ Your biggest asset is your bandwidth.” — @ReallyShecky [0:46:51]
Links Mentioned in Today’s Episode:
High Return Real Estate — https://highreturnrealestate.com
Jeff Schecter on LinkedIn — https://www.linkedin.com/in/reallyshecky/
Jeff Schecter on Twitter — https://twitter.com/reallyshecky
Jack Gibson on LinkedIn — https://www.linkedin.com/in/jackrgibson/
The High Return Real Estate Show — https://podcasts.apple.com/us/podcast/the-high-return-real-estate-show/id1195361495
HBR Podcasts — https://hbr.org/podcasts
Roche Diagnostics — https://diagnostics.roche.com/
Get in Touch
Interested in Investing With Us? Click Here
Connect with Chris - https://linktr.ee/chrisgrenzig
Toro Real Estate Partners - http://tororep.com/
The Real Estate Investing Experience - https://www.thereiexp.com/
The REI Experience YouTube - https://www.youtube.com/channel/UCjt6pmkA8ogACZ26oqhBM0g
The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260