Peter Hernandez saw the Great Recession open up right in front of him, and dived right in.
Hernandez, President and founder of Teles Properties told that story and more in this amazing profile piece by Los Angeles real estate trade magazine The Real Deal.
“It was actually done by design,” said Hernandez. “You want to open in a down market because that’s where the opportunities are. You also learn certain discipline about how to run a business. Was it a little bit worse than we thought it was going to get? Yes, of course. I don’t think we expected the run on the banks and we certainly didn’t expect it to be the “Great Recession.” But it was good timing for us because we were growing and building while everyone else was slashing and pulling back. It set us up for success.”
And that success paid off, obviously. After starting Teles in 2007 as the first independent brokerage to break off, less than a decade later Teles has 21 offices, with a 22nd opening in Pacific Palisades this November.
Hernandez tells the real deal that he’s always been a risk taker with an adventurous spirit.
“When I graduated from college, I bought a van and traveled around Europe, trying to stretch the $1,500 I’d saved for as long as possible by doing odd jobs,” he told the magazine. “I was in Switzerland, Spain, Portugal. I worked on a vineyard picking grapes and in a kitchen in St. Moritz so that I could ski. I lived the perfect nomad life.”
When he returned, he took a job with his family’s real estate firm, and sold a house to a customer looking for a rental – on his first day on the job.
Recalls Hernandez, “I thought, ‘This is great. I’m in.””
Hernandez also talks about how to go zen when dealing with antagonistic forces, surfing, and his all time favorite sales.
Read the full article here.