Growing your Income with Real Estate Investments | KWP Podcast EP. 8

Summary

In this episode of the Portfolio Podcast, Megan Wise interviews Peter Steart, a prominent real estate investor and agent who has achieved over 12 million in production in 2024 alone. They discuss Peter's journey from a payroll accountant to a real estate powerhouse, his diverse real estate strategies, and his commitment to balancing work with family life. The conversation highlights the importance of setting boundaries, leveraging support staff, and the impact of being an investor-savvy realtor. They also touch on their upcoming investment seminar, aiming to educate and empower everyday people to invest in real estate.

Takeaways

• 🎙️ Megan Wise hosts the Portfolio Podcast, focusing on property profits, real estate investing, and related topics.
• 🌟 Peter Steart is a highly successful real estate agent with over 12 million in production closed in 2024, breaking his previous record of 26 million in 2023.
• 🏘️ Peter operates in multiple real estate sectors, including luxury, entry-level, and investment properties, which provides stability and adaptability in varying market conditions.
• 💡 Peter's entry into real estate was somewhat accidental, shifting from a career as a payroll accountant in Los Angeles to obtaining his real estate license during the 2008 market downturn.
• 🔄 Peter emphasizes the importance of setting boundaries to prevent burnout, ensuring quality service for clients without sacrificing personal time.
• 👨‍👩‍👧‍👦 Peter values family time and enforces 'no work' boundaries after 6 PM and on Sundays, which has earned respect from clients and maintains a healthy work-life balance.
• 🔝 Peter is recognized as one of the top nine realtors by BiggerPockets, a leading real estate investing platform, and has been featured on their podcast, which has significantly boosted his business.
• 📈 Peter's business model is based on high volume and diverse clientele, which includes both retail buyers and investors, allowing him to consistently close a high number of deals.
• 🏢 Peter advocates for having a full-time staff to support real estate businesses, especially for those with high transaction volumes, to maintain efficiency and client satisfaction.
• 📚 Peter and Megan both believe in the value of continuous learning and sharing knowledge within their brokerage, fostering a culture of investment and professional growth.
• 🏢 The Portfolio team at Keller Williams is dedicated to empowering realtors and clients to invest in real estate, promoting an attitude of abundance and sharing expertise to grow together.

Q & A

What is the main theme of the Portfolio Podcast?

The main theme of the Portfolio Podcast is discussing property profits, real estate investing, and related topics.

How long has Peter been in the real estate business?

Peter has been in the real estate business for over 15 years.

What was Peter's profession before he entered the real estate industry?

Peter was a payroll accountant in the television industry in Los Angeles, California.

What prompted Peter to consider a career in real estate?

Peter's wife's cousin, who was a realtor in Long Beach, suggested that he would be good at real estate, which led him to consider the career change.

How did Peter manage to close over 12 million in production in 2024?

Peter achieved this by diversifying his business, focusing on customer service, and leveraging his investment knowledge in the city of Indianapolis.

What is Peter's approach to balancing work and personal life?

Peter sets strong boundaries, such as not taking calls after 6 PM and not responding to emails on Sundays, unless it's an emergency, to ensure he can recharge and give his best to clients.

Why did Peter decide to get involved with BiggerPockets?

Peter was impressed by the resources and knowledge provided by BiggerPockets, which he found unparalleled, and he became one of their Elite agents due to his experience and expertise.

What is the significance of the upcoming investment seminar on August 22nd?

The seminar aims to educate and provide insights on real estate investing, offering practical advice and strategies for potential investors.

How does Peter's experience as an investor benefit his clients?

Peter's personal investing experience allows him to offer knowledgeable guidance and advice to his clients, helping them make informed decisions about their investments.

What is the role of the support staff in Peter's real estate business?

The support staff helps to manage and leverage Peter's business, allowing him to handle a higher volume of transactions and maintain a stable and smooth operation.

Why is Indianapolis considered a top location for real estate investment according to recent reports?

Indianapolis is recognized for its growth, development, and the number of visitors and events, making it an attractive market for both short-term rentals and long-term investments.