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Show Summary
In this conversation, Peter Hagen shares his journey in real estate, emphasizing the importance of building trust with clients, personal growth through challenges, and the significance of daily routines for success. He discusses market trends, his strategies for wholesaling and flipping properties, and the importance of collaboration in business. Peter also reflects on his personal struggles with alcoholism and how overcoming these challenges has shaped his approach to life and work.
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Investor Fuel Show Transcript:
Peter Hagen (00:00)
If you’re struggling with alcoholism or you know drugs or whatever, any type of addiction, seek help. I’m living proof. If anybody that I know or that knew me back in the day,If you had asked them, will Peter Hagen ever quit drinking? I think they would have laughed because they’re like, why would he quit drinking? The guy’s the life of the party. He’s always fun. ⁓ except they didn’t see all of those things that were happening behind the scenes that were destroying my life. And, you know, so if you’re watching this and you’re that person and you know, it’s time, or you’re feeling like maybe, it’s time I address this. Just do it.
There’s so many ways to do it. There’s no one set right way to do it. Like for me, I had my own journey. I didn’t go to AA. I didn’t do all that stuff. But I definitely took the steps necessary to get healthy.
Quentin Edmonds (02:31)
Hello everyone. Welcome to the real estate pros podcast. I am your host Q Edmonds and I’m excited today because I have another fantastic guest and he’s like me. He’s a connector. He loves connecting with people. He’s good at connecting with people. and what he did, he created a model that’s going to help him do just that. And he goes by three simple words, treat people well. And so I amsuper excited to introduce you to Mr. Peter Hagen. Mr. Peter, how you doing today,
Peter Hagen (03:05)
Thanks for having me, Q. Great to be here.Quentin Edmonds (03:09)
Exactly, man. It’s great to have you here. And listen, Peter, I’m going to dive right in, I would love for you to tell us what your main focus is these days. Maybe give us a little bit of an origin story about how you got into doing what you do. And also tell them what part of the world you’re in, man, and what markets you operate and you serve. So Mr. Peter, the floor is yours,Peter Hagen (03:34)
So I live in Minnesota and Andover, Minnesota. It’s a North suburb. I’ve lived in the North suburbs in this area since I think 99. So I’ve been here a while. I serve the Twin Cities market. Once in a while I get outside the Twin Cities market in other, once in a great while in other states, not real often. And sometimes I’ll get out of the metro area.I like the North suburbs because it’s easy for me to manage properties. My business is fix and flip and buy and hold. So I’ve got a rental portfolio and at any given time I’ve got anywhere between two and five or six projects going on. I’ve been doing this since 2001 and
It’s a pretty simple origin story. was at the time I was in my early 20s. I just got married. Just had a baby and I graduated from Bethel. Well, it used to be Bethel College. Now it’s Bethel University in Arden Hills, Minnesota. And I got some job opportunities in my area of educational training, which was
history and education. And ⁓ I just made the determination at that point that I didn’t know if I wanted to be stuck in four walls my whole life, you know? And it wasn’t, maybe it was because I had kind of a rough, I went to a rough school for my student or for my, what do you call it?
when I did my, I can’t remember what they call it now. So I basically, got placed in a school and I did my teaching, kind of my internship teaching. And for some reason I’m forgetting the term. It’s been a while. And it was kind of a rough school. And I just, didn’t know if I wanted to be working with, you know,
Quentin Edmonds (06:17)
Yeah.Peter Hagen (06:27)
kids my whole life or being in schools my whole life. And so I had an opportunity, I was working at a steak house and they gave me an opportunity to become a assistant general manager. I’d been working there for a few years while I was in college. And so I took that and that kind of just kind of inspired some business because like thoughts of business in my mind.And so I read, started reading books. read Robert Kiyosaki, Rich Dad Poor Dad, like a lot of people did or have, and made the determination that I wanted to jump into real estate. And my first deal I ever did was 424 31st Avenue North. I’ll never forget that address. I got it on a no money down contract for deed and ended up partnering with a guy I didn’t know.
He, was doing an open house cause I was, I became a licensed realtor and then walks, who ended up becoming one of my best friends. Mr. Antonio holiday, and who actually passed during COVID, rest in peace, my friend. but we, we kind of formed a loose partnership over the years and did a lot of deals together, but that, that property I learned a ton on, I made good money on it, ended up holding it for a few years.
they did kind of a cash out, refi made money there, leased it out for five years, section eight, made money there. And then when I sold it, I made more money. I wish they could all be that good. They haven’t necessarily gone quite that well over the years, but that was my first start. And then I started buying and selling and I learned, I learned the business, just the hard way. And at that time there wasn’t many.
seminars or webinars or anything like that. So it was just ask questions, meet with people, collaborate, figure things out. And, and then what I did then was I both was, buying and selling for myself, but then I also was a licensed realtor. I started representing other investors and it was a good niche. And then I, me and a buddy started a real estate team, did that for a number of years and we ended up
going our separate ways amicably. then there’s kind of a little in between period of time from about 2006 to maybe seven up until about 2011. And I call them my dark years. It was a period of time of
not making good decisions. ended up getting divorced, like doing things that, you know, have impacted my life. But at the same time, I wouldn’t be here without those decisions. it’s, a lot of people have similar things they’ve gone through and I’m no different. It was a difficult time, but I learned a lot and I came out of it on the other side. And so,
In 2012, I jumped back into real estate and kind of built what I have now, which was kind of relearning the business of fix and flip and being a realtor for other investors. and then I ended up becoming a sales director for what ended up becoming the biggest home buyer in the state of Minnesota to this day. They were doing a couple of deals a month when I got there and
By the time I left, they were, you know, a 10 figure company. So, and I’m not taking all the, I’m not going to take, take all that credit, but, ⁓ but at the same time, it was definitely, ⁓ it was definitely a team effort and I was part of that team and I’m really proud of that. And I’ve, while I did leave that company eventually to do everything on my own.
It was a great experience and I, and I learned a lot and I made a name for myself in the community. So, you know, I’m very grateful for that. so, fast forward to the last few years of just completely being, a solo operator and being on my own. I don’t know the number of houses I’ve bought and sold, but it’s probably in the hundreds.
some of those have been wholesale. Some of those have been true fixed and flips. I think my favorite business model, honestly, Q is to, is, is wholesale. I’ve never found an ROI higher than, you know, a million percent or whatever you want to call it. Cause if I can get a property under contract and, leave enough meat on the bone from the next guy and take a little bit for myself without having to come in the, come to the table with any money.
That’s kind of an infinite ROI. Yeah. So, so wholesaling rentals, ⁓ flips, I’ve become very efficient with my flips. I definitely spent a lot of time at Home Depot and Menards and on Facebook marketplace. Yeah. Making sure I’ve got all my materials. So a typical day for me is to check in on my job sites, make sure my guys have materials they need.
And then I’m probably out looking at a couple of houses, maybe making some offers, going to a real estate event, you know, that kind of stuff.
Quentin Edmonds (12:30)
Yeah, yeah. Man, I love it. And thank you for all the information. Thank you for taking us on the journey. Thank you for just getting us a peek behind the scenes. And you said it yourself, you know, there are things, adversities that you had to overcome. And I’m interested to know what are some of the personal strategies that you use now in business and in your personal life that kind of keeps youkind of focus that kind of keeps you consistent eyes on the prize.
Peter Hagen (13:03)
This is my favorite thing to talk about is the daily routine. It’s just so powerful when you when you wake up every day with a plan and when you can execute that plan, you know, I don’t always write down everything I want to do or need to do every day. I was just I had a few minutes before this podcast, I was sitting over here with mynotebook, just writing down some things I need to do, both just to be a better person today and to make sure that I check off all the boxes I need to in my business. But I’ll kind of go back. I, I definitely had some issues with alcoholism and some other things, especially during those post divorce years.
Well, pre divorce and post divorce and, eventually God got ahold of me and I, by the grace of God, I was able to, sober become, uh, well, I quit drinking in on April 1st of 2019. It’s been the best decision I’ve ever made. And out of that, came a quest for, health and fitness and just, just to become a better person every day.
And you know, one of the things I pray for each morning is, you know, father helped me to be a better man today than it was yesterday, helping me be a better husband, a better father, a better business person. And of course you don’t always succeed at that because we’re humans, but it starts with that morning routine. I wake up early, I get my, I’ve got a
my supplements and you know, I could talk about that stuff I get, I kind of geek out on getting your minerals and, and hydrating yourself and getting to the gym and getting your grounding. And I take a three minute cold shower with big deep breaths for about three minutes every morning. And I always tell people if you’re not doing something to make yourself uncomfortable every day,
I don’t know what you’re doing because that is the way that we become stronger both physically and mentally and then also spiritually. So my spiritual, my faith is very important to me. So I make sure I get that time every day alongside of some of the other things that I do to take care of my health and fitness and get to the gym.
If you’re in if you’re a business person and you’re struggling and you don’t have that morning routine yet it’s the I think it’s the Biggest thing that will help you to achieve higher better results in your life and your business is to take care of yourself In the morning specifically in the morning, so I’ve never found anything more powerful
Because every day I wake up, I’ve got that plan. I know what I’m going to do immediately when I wake up. It’s the same thing every day minus at my workout days. Of course I get to the gym, non-workout days. I’ve got other things and I’ve got four workout days a week, three rest days a week, Wednesdays a day off, take the weekends off. But of course, it’s not like I’m not doing anything. It’s just, I’m not lifting weights or, you know, doing that kind of stuff.
So, but you know, and here’s the other side of it too. If you feel good and your mind is clear and you rested well and you took care of yourself, it is a lot easier to handle all the things that are thrown at us as, you know, entrepreneurs and business owners every day. This isn’t easy. You know, the last two years have been one of the most challenging periods of my life.
you know, how did I make it through all this and how do I continue to, you know, to push through ⁓ some of the challenges that have been presented to me. It’s by having a clear mind and taking care of myself and maintaining relationships and doing some of those things that, you know, you get into a difficult season of life and a lot of people want to bury their head in the sand.
And I’m here to tell you, don’t do it. And you’re going to have days. I have had days where I buried my head in the sand, but not completely, just a little bit. And then I was able to pop back out of the sand and do what I need to do to continue on. you know, sometimes if you get into a challenging season of life, sometimes it’s just the little things like.
You need to check off some boxes that are pushing you forward on any given day. As long as you do that and you’re moving forward. Cause if you’re standing still, you’re going backwards because only things moving ahead of you. But if you can figure out a way to just check off a couple of boxes, maybe it’s one box, maybe it’s a little thing, but continue to make progress. That’s, guess that is my little soap box for the day is.
check those boxes, keep moving, get that personal routine down in the morning, get yourself healthy.
If you’re struggling with alcoholism or you know drugs or whatever, any type of addiction, seek help. I’m living proof. If anybody that I know or that knew me back in the day,
If you had asked them, will Peter Hagen ever quit drinking? I think they would have laughed because they’re like, why would he quit drinking? The guy’s the life of the party. He’s always fun. ⁓ except they didn’t see all of those things that were happening behind the scenes that were destroying my life. And, you know, so if you’re watching this and you’re that person and you know, it’s time, or you’re feeling like maybe, it’s time I address this. Just do it.
There’s so many ways to do it. There’s no one set right way to do it. Like for me, I had my own journey. I didn’t go to AA. I didn’t do all that stuff. But I definitely took the steps necessary to get healthy.
Quentin Edmonds (20:30)
Yeah, Peter man. So thank you so much. I mean, such a powerful message. So much of what you said resonates with me resonates with, with people who I’m walking with the journey that I’m walking with beside like accountability brothers, people who are whole dear within my circle. And so man, such a powerful message. And I’m glad you was able to really articulate those personal strategies that help you out today to help you see clearly on a business tip and alsoon just a personal level. So man, I thank you so much. I want to ask, I had to ask, what’s the next real goal for you, sir? Are you looking to solve or scale something next? Like what’s next for you, Peter?
Peter Hagen (21:11)
Yeah, so I really, I’m in the process of scaling my business again. I did it from like 2018 to 2021. then what some of what created well, most, excuse me, most of what created the challenging times is that I made some poor decisions in what I was investing my money into andI got involved in two different businesses that were outside of the scope of my expertise. And not to say that you can’t do that, but in my situation, it just didn’t work out. So I really recommitted myself to my real estate business, the beginning part of this year. And that’s why my pipeline is beginning to get filled up. I’m actively bringing
new team members on. just started working with a young man that I absolutely adore. And we’ve already done a couple deals together. We’ve got a couple more coming. Like when you meet somebody that you click with and you take those action steps to start doing some business together, man, it’s so fun. It’s just like, it’s just brought a lot of joy. And then I kind of rekindled an old ⁓
partnership with the guy that I started with back in the day, we started a real estate team together when we were young and that kind of turned into a real estate brokerage and eventually a title company. And we started working together again and that’s been a lot of fun. And that’s another thing that I’ll say, a little point that I’ll make. I’m 49 years old and I’ve
gotten to this point where it is more important who I’m working with than what I’m doing. And yeah, but when you can get both those right, doing something that you enjoy and love to do and you have passion and then you surround yourself with people that are way better than you at so many other things that you’re not good at. And that’s those two guys, they’re both really good at stuff.
Quentin Edmonds (23:11)
Hmm.Peter Hagen (23:32)
that I’m not good at and I’m good at stuff they’re not good at. it’s like, it, it just, it, it just, it works. that’s so that’s so scaling my business back into, cause right now I get a lot of organic leads. get a lot of leads from my network. I get a lot of referrals. but in order to scale them, I know I’m going to have to get back and get in front of more people. Yeah. So in order to do that, I just have to have.a good team in place. And so that’s what I’m doing right now. I’m assembling the team. I do have good crews of guys that work with me to remodel my flips and do some of that stuff. And I’m grateful for those guys. So, but yeah, so right now it’s in the process of scaling my business and I don’t, I don’t have any reason to believe that
By middle to end of 26 I’ll be humming along pretty good.
Quentin Edmonds (24:31)
Yeah.Listen, I don’t got no reason to believe that you won’t be the man that you got. You got the mindset. You’re putting the strategies in place. No doubt in my mind. And you know, we got our heavenly father looking out. So there’s no doubt in my mind. You’re going to crush those goals. And I’m glad you brought up just relationships. I always say people are the real currency. And so I’m glad that you are exploring old partnerships and also putting a team in place.
you sound like you really value people in relationships. so Mr. Peter, man, this is absolutely been great. If someone wanted to reach out to you, connect with you, partner with you, collaborate, how can they reach out to you, sir?
Peter Hagen (25:13)
What’s the best thing to do? Cell phone, email, I don’t know.Quentin Edmonds (25:17)
I mean, what’s best for you? Whichever way you communicate the best, tell the people that way so that they can get in contact with you.Peter Hagen (25:25)
I mean, the best way to get me is my cell phone because that’s where we all live. So I would, I would advise to shoot me a text and just introduce yourself. And then, just because, you know, we’re all busy, but, plus if you text me, then I’ll know who it is. You know, we live in a world where it’s, we get a lot of spam calls and whatever, and it doesn’t matter how I filter my phone, they still come in. So if I don’t recognize the number,I don’t always answer it. But my cell phone is 651-808-4215. And if you shoot me a message, that’s a great way to start. then I do have, I’d love to give you the web link to my website, but I’m going to hold off on that. Maybe we can do this again. I’ve got to go in and fix it. I don’t want people going there quite yet.
because I got messed up last week and I haven’t fixed it yet.
Quentin Edmonds (26:27)
Absolutely. Nope. I understand, man. We’re definitely, we’ll stay in contact that way maybe you can pass on information later. But Mr. Peter, sir, thank you so much, man. Thank you for your time. Thank you for your story. Thank you for your perspective. This has really, really been good. And I’m so glad that you came through to add value to the podcast. So thank you so much, man. I appreciate you.Peter Hagen (26:48)
Yep, all glory to God. Thank you for the opportunity, I hope to talk to you again soon, man. This was really, this is a lot of fun. I’d love to hear more about you too sometime.Quentin Edmonds (26:59)
Oh, yeah. Listen, we’ll talk a little bit behind stage behind. So I appreciate you. I’ll tell you some more about me. But listen, everyone, y’all got the value for Mr. Peter. Please make sure you subscribe. That way you can come back and just continue to get this amazing content from these amazing guests, just like Mr. Peter that we continue to bring on. So Peter, thank you again. And to everyone else, we will see you on the next time.Peter Hagen (27:27)
Awesome. Thanks, Q. See you, everybody.
