Becoming an investor in the real estate industry is a great way for entrepreneurs to make lots of money and build wealth. Private real estate investors who are ambitious and possess an entrepreneurial spirit can make thousands and thousands of dollars per month buying and selling homes. Each year it seems there are new real estate entrepreneur success stories that pop up. With all that entrepreneurs stand to gain in the real estate market it is easy to see why so many of the top entrepreneurs in the country continue to buy and sell. To demonstrate just how successful some of these investors have been over the years, take look at five of the top real estate entrepreneurs in the market today.
5) Carlos Reyes: Co-Owner, National Cash Offer
Carlos Reyes was raised by a single-mother and for 14 years worked a regular corporate job. In 2015 however, Reyes decided to pursue his own dreams and create his own real estate investment company. Today, along with co-owning the wholesale giant, National Cash Offer, Reyes also owns 25 businesses, seven of which produce seven-figures annually. Meanwhile, NCO has emerged as a powerhouse in the wholesale real estate market and is one of the most successful companies of its kind.
Reyes currently also offers online courses for beginners to start wholesaling. Additionally, Reyes along with Shakir and Alex Saenz, hosts the 2-day master course event, Momentum, to each aspiring entrepreneurs their systemized method that has yielded them great results. During a 2018 podcast, Reyes revealed that he and Shakir are able to move an average of 30-40 properties a month and bring in about $400,000 per month wholesaling. Today, National Cash Offer also pulls in 6 figures a month.
4) Sal Shakir: Co-Owner, National Cash Offer
Unsurprisingly, Sal Shakir takes our 4th spot on the list. Shakir is an Iraqi immigrant who came to The States knowing very little english. Shakir is yet another shining example of real estate entrepreneur success stories. After escaping his home country from war at age 15, Shakir went on to co-found 14 companies including National Cash Offer, building an empire not just for himself but for his whole family.
After spending years working odd jobs, Shakir finally was able to save up and buy a fixer-upper home. He knew he was handy enough to fix it up himself and eventually he sold the home, thus beginning his real estate investment career. At the time, Shakir owned a car dealership and upon meeting his business partner Carlos Reyes, his entrepreneurial instincts led him to jump at the opportunity to venture into wholesale real estate. Shakir is also the founder of All In Entrepreneurs. Together, Shakir and Reyes are two of the most successful real estate investors in Phoenix.
3) Robert Faith: Chairman & CEO, Greystar Real Estate Partners
Initially, Robert Faith planned on being an engineer and working in the Oklahoma oil fields just as his father did before him. However, upon graduating in 1984 from the Oklahoma University, the oil market had taken a decline. Subsequently, Faith went on to get his MBA from Harvard University and in 1990 co-founded Starwood Capital Group.
Three years later, Faith founded Greystar Houston, where as CEO he also served as the Secretary of Commerce of South Carolina from 2002 to 2006. Today he is the founder, chairman, and CEO of Greystar Real Estate Partners. Greystar is ranked number 1 in the multifamily market according to the National Multifamily Housing Council. Last year Greystar became the second largest supplier of student housing in the US with its $4.6 buyout of student housing developer and owner EdR.
2) Dottie Herman: CEO, Douglas Elliman
Dottie Herman began he real estate career as a manager of the Northeast real estate division at Merrill Lynch in Long Island in 1978. Since then, she has gone on to become the “richest self-made woman in real estate” in 2019 as dubbed by Forbes. In 1990, Herman borrowed $7 million from Prudential to purchase Prudential Long Island Reality. Against long odds, Herman eventually turned Prudential into a massive powerhouse brokerage on Long Island and eventually in The Hamptons.
Eager to move on to the city, in 2003, Herman and her business partner purchased the largest and more prestigious brokerage in Manhattan, Douglas Elliman. Today, Douglas Elliman is the fastest growing brokerage in all of New York. As of 2018, according to Cision, Douglas Elliman is the third largest US real estate brokerage by sales volume. With over 7,000 agents, Douglas Elliman does approximately $27.4B in sales volume annually.
1) Ben Caballero, CEO of HomesUSA
Ben Caballero came to Dallas, Texas at age 21 with nothing but $500, his wife, and a car he borrowed from his mother. In 2007, Caballero launched HomesUSA, a web-based platform that process real estate listings. Today, Caballero is the top ranked agent by sales in the U.S. having done over $1.9B in closings on nearly 5,000 transactions. In addition to HomesUSA, Caballero also manages sales and marketing for building giants such as Toll Brothers, CalAtlantic, Highland, First Texas, Ashton Woods, and McGuyer.
It is even more remarkable that HomesUSA has been such a booming success since it launched the same year that the subprime mortgage crisis began. Yet Caballero managed to weather that storm and become the top agent in the country and has held that position ever since. In 2018, according to Business Insider, Caballero sold $2.2B worth of homes. In the same year he was awarded the Guinness World Record for “Most annual home sale transactions through MLS by an individual sell side real estate agent.”
For many, the real estate industry has been a catalyst for great success and personal wealth, often creating a ‘rags to riches’ story for real estate investors. The most successful entrepreneurs make the most of their situations, take risks, and above all else, never let failure slow them down. To become a top real estate entrepreneur takes drive and ambition, all of which is embodied in the career paths of all five people listed here.