Peter Vekselman: Pioneer Real Estate Investor

Most of us are so afraid of venturing into uncharted territory that we never take a risk and as a result we fail to reap the financial rewards and personal satisfaction that comes from trying something new. However, for Peter Vekselman, going his own way and prudent risk-taking has been the secret to his success and has played an instrumental role in his development into a business leader.
After successful stints as an insurance agent, owning a vending machine distribution company, and even a mobile home dealership, Vekselman discovered that he had an interest in real estate. Deciding that his mobile home dealership was a natural first step into real estate, he attended a real estate investing seminar that provided the impetus for him to make the leap.
Unfortunately for Vekselman, while the seminar did a good job of selling him on the benefits of real estate, it failed to deliver on its promise of giving him the tools he needed to succeed. Determined to leave his mark on the real estate world, Peter Vekselman tried to hit the ground running -- and succeeded in running headlong into one of real estate's most enduring and closely held secrets: it's one thing to know something; it's another thing to do it.
During his first six months of active real estate investing, Vekselman made every mistake that an inexperienced investor to make, and in the process managed to lose more than $500,000. His lack of knowledge caused him to overlook the importance of understanding property values; consequently, he dramatically overpaid for property. In addition, he worked with realtor's that didn't truly understand his needs and he also made the mistake of working with contractors more skilled at separating him from his money than doing quality work.
Because of all the mistakes he made during that six-month period, he was able to obtain a doctorate level real estate investing education at lightning speed and was able to learn from his mistakes and turn his business around. Drawing on his business experience, and by making a series of shrewd real estate investments, Vekselman was able to develop one of the largest real estate investing companies in the southeaster
United States.
While he worked hard, Peter Vekselman also believe in working smart. He only had a staff of three, but he was able to consistently close between 200 and 250 real estate deals every year. Purchasing property at a steep discount and immediately flipping it for a profit kept the company in cash, which allowed him the luxury of holding on to his other properties for long-term equity appreciation and monthly cash flow.
Because of his deepening passion for real estate, he found ways to close deals that other investors wouldn't touch. Primarily using institutional financing and cash, he invested in every conceivable form of real estate:
• Housesn • Apartmentsn • Condo Conversionsn • Commercial Propertyn • Land Dealsn • Small Developments
Because of his positioning in the marketplace, Vekselman was able to attract the very best deals. Furthermore, his keen understanding of current trends allowed him to quickly analyze and act upon new opportunities while others were still in analysis mode. He had one of the most profitable, self-sustaining real estate operations in the Southeast United States.
In order to keep growing, Vekselman did something that at the time is almost unheard of: he formed his own construction company in order to increase its profitability and get his properties rehabilitated and back on the market more quickly. Before long, the construction company expanded and began doing work for others.
Sensing a need in the marketplace, Peter Vekselman was able to raise about $9 million in private money and he began funding real estate loans for other investors. By giving his private investors a good return on their investments, he was able to further expand his real estate empire by lending money out and earning a good return on the spread.
Vekselman also saw opportunity in the Property Management niche. With his wealth of real estate experience he decided to parlay his knowledge of managing his own properties into opportunity by opening his doors and managing residential and commercial property for others.
Peter Vekselman’s foresight in seizing opportunities as they came along allowed him to develop one of the first one stop shop real estate concepts in the U.S. What made this concept so unique was the fact that all of his real estate services were available under one roof. Instead of referring people to related businesses across town or even down the street, he was able to refer them down the hall.
After his impressive track record of consecutive business successes, Peter Vekselman made what seemed the most logical transition at the time: He decided to begin sharing his knowledge with students all over America, teaching others how to capitalize on their dreams of real estate investing riches. n