Aamir Waheed is a real estate entrepreneur with more than 25 years in the business. He has co-founded, run, and served on the boards of several companies in the industry during this time. Aamir is best known as the President of Realtrack Inc, a Florida-based holding company through which he buys, sells, and manages numerous rental properties.
Aamir’s extensive expertise in real estate is quite diverse, ranging from tax deed and foreclosure sales, lender note sales, and short sales to REOs. Aamir prides himself on his superlative record of building highly successful businesses. Although achieving financial prosperity, Aamir has maintained a philanthropic spirit. He regularly supports various charities, specifically those helping the homeless access the basics such as food and clothing.
What is realtrack Inc. all about?
Realtrack Inc. is a real estate company that buys and sells properties. We focus on undervalued markets where there is great potential for profit. I specialize in buying and selling foreclosed homes, tax deed properties, and I also have a lot of experience and knowledge in the REO space.
Tell us a little bit about your background and how you started your company?
I come from a family of entrepreneurs, so I was taught how to spot a good opportunity from a young age. When mortgage rates dropped dramatically in the early 2000s, I noticed that at the same time, the amount of collateral required to purchase a home was reduced. I ran the numbers and concluded that this would result in a housing boom, so I jumped in. I made a lot of money buying and selling houses while also renting them out. I used this success to solidify my position in the industry and advance to where I am now. During the 2008 financial crisis, for example, I used my liquidity to buy several distressed properties and then sold them after the market recovered.
What would you say are the top 3 skills needed to be a successful entrepreneur, and why?
- Patience. Starting a business is like raising a child. You can’t just give it things and expect it to succeed. It has to be nurtured and cared for.
- Perseverance. You will encounter many challenges and obstacles. The important thing is not to give up and to keep going.
- Persistence. The market and the world don’t pay attention to you or reward you for your hard work overnight. You have to continue striving towards your goals.
How do you separate yourself from your competitors?
I’ve been in the business for over 25 years. I believe that I have a very unique perspective on the real estate market because I have been a part of it for so long. Also, I have a broad range of experience in numerous property types and have earned a reputation as a trusted and reliable provider. Having overcoming obstacles and unique problems in the past, I have a good sense of how to deal with a lot of different situations. I also have a strong understanding of the value of a property and how to determine if a deal is a good investment or not.
Furthermore, the resources and tools at my disposal are an advantage that not everyone has, including my special skill set which allows me to acquire, renovate, and sell properties quickly. My large network of partners and contractors I work with, help me to know, without a doubt, when to sell or flip a property and I can see the entire process through to the end, with my expertise when it comes to closing a deal. All of these things set me apart and above the competition.
What were the top three mistakes you made starting your business, and what did you learn from them?
- The first mistake I made was not getting a mentor early on. I didn’t know who to trust and who could really help me, because this business can be filled with a lot of sharks. It took me a while to learn how to distinguish who was who, and who to trust. I would recommend finding a mentor as soon as possible.
- My second mistake was sometimes not taking enough time to inspect properties. The investments still usually worked out, but they ended up eating into the profit. Now, I have a trusted inspector that looks at every possible detail. Do not ever skip an inspection, that upfront cost may end up saving you thousands.
- Thirdly, I didn’t put in the hours when I first started my business. I was trying to maximize my profits instead of really building a solid foundation. Now, I invest a lot more time in my business. I learn more every day and that helps me to gain a competitive advantage. It helps me to anticipate problems that may arise and to be prepared for them.
Tell us a little bit about your marketing process, what has been the most successful form of marketing for you?
In the beginning, I mainly focused on networking, I think you have to put yourself out there. In this business, networking is more important than your ability to close a deal. I make it a point to attend as many events as possible and network actively, reaching out to many people. I have never been a shy person and I have a lot of confidence in my abilities, so I have no problem approaching people and introducing myself. I think that’s a huge advantage.
Today, I have a large team that I work with. I still actively network, but mainly to build my platform. My team handles most of the deal flow and they also have a lot of opportunities at their disposal. In this way, I am able to leverage my time and resources, so I can focus more on bigger deals. Perhaps most importantly, I have a lot of respect for my team, and they know that I’m there to help them.
Beyond networking and referrals, using tools like Google Ads or social media are also valuable ways to get your name out there across multiple platforms.
What have been your biggest challenges and how did you overcome them?
The first and most significant challenge was the learning curve. This is a highly specialized and complicated industry, and I faced a lot of problems and obstacles that I wasn’t used to. For example, I had to learn how to buy and sell distressed properties and determine which deals to pursue and which to avoid. I also had to learn how to manage a team and delegate responsibilities as I built my business. In the beginning, I didn’t have a large enough team, so I had to learn how to do a lot of things myself.
Lastly, I also had to learn how to motivate myself and others to work hard. Over time, this all came naturally as I gained a better understanding of the industry and a strong work ethic.
Another challenge that I had to overcome was dealing with a lot of sharks in this business. I had to learn to spot them and quickly eliminate them from my network. It took a while before I was comfortable trusting certain people, but I eventually learned how to tell the difference between a good and a bad person, and that the majority of people in the business are indeed trustworthy.
What was your first business idea and what did you do with it?
This may sound crazy, but my first business idea was to be a superhero. I spent a long time dreaming about what kind of powers I would have and how I would go about fighting crime.
I am still not a superhero, but I am the owner of a successful real estate business. I also have a lot of superhero qualities, but I’ll leave that for you to decide.
What are you learning now? Why is that important?
I am learning how to lead my team better. I am the founder of my company, but I now lead my team and that means I have to do it in a different way. I now have to look at things like how my actions affect the morale of my team and make decisions based on that.
What’s a productivity tip you swear by?
I always try to answer all of my emails on the same day, even if it’s just to transfer them to my team. I find that if I don’t, they tend to pile up and I don’t reach out to my contacts.
What helps you stay driven and motivated to keep going in your business?
My passion and desire to be the best in my business. I wake up every morning with a desire to be better than I was the previous day. This is the driving force behind my success.
What valuable advice would you give new entrepreneurs starting out?
Never lose sight of the bigger picture. Focus on having a big impact and a big vision for your business. You have to set a goal and work hard towards it, each and every day.
How can we get in touch with you?
The best way to get in touch with me is to use the contact feature on my website, aamirwaheedorlandoflorida.com
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