Our latest feature, Luminita Ispas, with Century 21 comes to us with almost 20 years of experience in real estate! Her thoughts on the positive attitude it takes to succeed along with her belief in mentoring make this an amazing feature. Read on and find out for yourself…
Landlordette: Let’s start from the beginning…give us a brief recap of who you are, where you came from, your business etc.!
Lumi: I am originally from Romania, and moved to the USA at the beginning of March 2000. I grew up during communism and always wanted to be an entrepreneur. After the 1989 revolution, I did get to have a business in Romania, being one of the youngest entrepreneurs in my city at that time. As soon as I arrived in the USA, as I always drew houses as a child, I got interested in becoming a developer and investing in real estate.
Landlordette: What inspired you to get where you are at today?
Lumi: I was looking for financial freedom and I wanted to work for myself. I came across real estate investing and while I did not have the cash to invest right away, I took the next step logical to me in that direction: selling real estate and learning everything I can about all aspects of investing in real estate. Within a year of getting my license, I was able to buy my first property.
Landlordette: Throughout your career what have been your biggest struggles?
Lumi: At the beginning, it was the fact that I did not know anyone in the business or in the city at all for that matter. Real Estate sales are about people, and I was brand new in the country. Through sheer determination I kept growing my business and buying properties, with my goal being to keep growing and buy at least one property per year, for investment purpose. I went to a lot of seminars and real estate training classes. A few examples: Tony Robins, Mike Ferry, Landmark Education, etc. When the market crashed in 2008 I just made it to the top and I went down really hard. It took a lot to get back up, I sold so many REOs and short sales, I still remember my smallest sale price: $3,000 for a townhome. That was the selling price if you can believe it. I do credit that time for the person I am now and the knowledge I have as it took a lot of learning and experiences to get where I am today, to 549 closed unit in over 15 years. I am also using that experience to teach monthly Real Estate investment seminars. I want to make a difference and to make it easier for the next investors that don’t have years to learn how to invest.
Landlordette: How did you overcome these ups and downs? What advice would you give to people in that position?
Lumi: I would tell them, “You can do this, just stay with it”. What helped me was mentoring, coaching and the broker-owners of my office, who were very supportive.They asked that I focus on being mentally positive and focus only on what’s in front of me. I believe staying positive, goal focused and having a, “How I can do this?” attitude always helps. I would also recommend reading “Think and Grow Rich” by Napoleon Hill, listening to Earl Nightingale and Jim Rohn’s messages, and finding a mentor or a coach.
Landlordette: If you could, would you change anything about your journey?
Lumi: Yes, I would take more time with my children and focus on buying more properties after 2010.
Landlordette: Has luck played a meaningful role getting you where you are today?
Lumi: That’s such an interesting question. I am a person that never gives up, and always looks for solutions. At the same time, I believe I was really lucky to meet the brokers of my office, the owner of the management company I worked for before starting to sell real estate and all my clients. I believe every one of them has a part in my success. And of course, having my mom help me raise my children and never worry about daycare was a huge help.
Landlordette: Let’s talk real estate…what do you think will be the biggest changes in the industry over the next few years?
Lumi: I wish I had a crystal ball. 🙂 I think that the buyers and sellers are very knowledgeable today. They expect superior customer service and knowledge from their real estate brokers and everyone involved in the transactions. I believe technology will help streamline even more the home search and paperwork while the Realtors will focus on negotiations, identifying any roadblocks and closing the transactions.
Landlordette: Any shoutouts? Any mentors? Who has played a meaningful role in getting you where you are today?
Lumi: Of course. Jim Lynch & Nancy Suvarnamani, the owners of my office, have been great mentors and big supporters. My Real Estate coaches from Mike Ferry Organizations, my mom and my children who understood and accepted my schedule, as well as understanding me picking up calls on Christmas, Easter, 24 hours a day, 7 days a week for many, many, many years and last but not least, all my clients, my lender’s and my attorney, who are always selflessly teaching.
Landlordette: A couple fun questions…If you could have an all expense paid vacation anywhere in the world where would it be and why?
Lumi: A tour of Europe: the art, the history, the architecture, the food… Do I need to continue?
Landlordette: Would you rather have an all expense paid wardrobe or a new car of your choice?
Lumi: Can I pretty please have a down payment for a building of my choice!?….If we could give that to you Lumi, we would!
In all seriousness, what an amazing story! We hope you enjoyed this feature and if you’d like to reach out to Lumi to by phone or email she’d love to talk: 773.392.2906/Luminita.firstname.lastname@example.org . Check out her site to find out about her wealth building events: luminitaispas.com.
If you think you’d make a great fit for our feature or know someone you’d like to nominate, please tell us here! These features are all about real people inspiring us in real estate today so don’t hesitate to reach out if you’ve been inspired.