On episode #33 of the Profits Over Wages Podcast we sat down with Rosario Terracciano, CEO & Co-Founder of Clickinvest - He has been in the real estate industry since 2003 and has represented investors, rehabbers, builders, banks, and institutions in more than 2,500 transactions valued at more than $300 million. Rosario was the number one broker in Chicago for 2013 and ranked 4th nationally by the Wall Street Journal. He has built a career working with investors to stabilize distressed properties.
On this episode Rosario tells us the biggest lessons he’s learned in business over years, how he was able to do 640 transactions in one year and win number #1 broker in Chicago for 2013. We also talk about doubling down on technology and how he was able to replace the work of 60 employees with just 6, how Rosario has lost it all multiple times and how that has led him to where he is at today, and he gives us advice on how to deal with the tough times. And much more.
- [02:21] Who is Rosario Terracciano?
- [02:32] What is ClickInvest?
- [03:49] How did Click Invest come about?
- [05:24] Rosario’s story, how he got started in the industry after trading futures at the Chicago Mercantile Exchange
- [06:21] Book: The Power of Positive Thinking
- [07:13] Book: The Millionaire Mentor
- [09:31] Rosario talks about being heavily involved in real estate and how he lost it all during the 2008 real estate market crash
- [11:46] How Resurrecting real estate came about in 2009
- [12:16] Rosario talks about starting out to doing 150 deals the first year then going to 250 deals 3 years later and in 2013 selling 640 homes
- [14:04] Rosation talks about what it is like to be an REO broker, the responsibilities and all the crap that comes along with it
- [19:21] The biggest lesson Rosario has learned in business
- [22:55] Rosario talks about being reached out to by Invitation Homes / Blackstone and winning the contract to be their one and only supplier of properties in Chicago
- [24:49] Book: The E-Myth
- [24:50] Book: The E-Myth Real Estate Edition
- [26:43] How Rosario leveraged technology and replaced 60 employees with just just 6
- [27:02] Rosario talks about Blackstone pulling out as his client and him having to fire 90% of his staff
- [28:44] How to deal with the tough times
- [29:36] Writing down your goals and having a vision
- [30:03] How ClickInvest was born
- [32:29] How Rosation has planned to turn ClickInvest into a national company through the franchise model
- [34:58] How ClickInvest is structured and how it works
- [41:22] How easy it is to make an offer through ClickInvest
- [42:57] How accurate are ClickInvest’s evaluations on the sale side?
- [46:11] How long have ClickInvest appraisers been in the industry?
- [46:53] s there a cost to use ClickInvest?
- [48:05] What is Rosario’s vision for ClickInvest?
- [50:16] Does ClickInvest provide off market properties?
- [52:34] What’s one thing you find to be true that most people would disagree with?
- [53:15] Have you ever turned down a client? If so, why?
- [53:41] To what do you attribute your success?
- [53:47] What is your best hiring tip or secret?
- [54:52] How did you get your idea for your business?
- [55:53] What was the worst piece of advice that you ever got?
- [56:42] What do you wish you knew before you started?
- [57:05] Do you have a morning routine?
- [57:28] How do you stay motivated?
- [57:38] If you had one piece of advice to someone just starting out, what would it be?
- [59:40] Do you have a favorite failure? Is there one that set you up for a future success?
- [01:00:32] What habits helped make you successful?
- [01:01:14] What’s a piece of advice that you received recently that you still follow?
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#30 - DO YOU HAVE A FAVORITE FAILURE? IS THERE ONE THAT SET YOU UP FOR A FUTURE SUCCESS?
On Episode #30 of the podcast, we decided to switch it up a bit. Back on episode 10, we began asking a series of questions to our guests, some questions more than others, and there was one that we kept getting great answers to and we’ve actually asked it the majority of the time since. And that is: “Do you have a favorite failure? Is there one that set you up for a future success?”