Welcome to our founder lessons series. This week we have an exclusive interview with Engelo Rumora, CEO and Founder of Ohio Cashflow. Engelo shares how his real estate investment company started and lessons learned in the process. He encourages entrepreneurs to work hard and smart and maintain an undivided focus on their businesses to be successful.
Engelo Rumora, CEO and Founder of Ohio Cashflow is a 27 year old Australian who dropped out of school at the age of 14. He was a professional soccer player for some time. Now he is in the US and has built a million dollar real estate investment company within 10 months.
Why and how did you start Ohio Cashflow.
Ohio Cashflow was started for the purpose of flipping the turnkey real estate investment market upside down. There were and still are too many operators that solely focus on selling as many properties possible to as many investors possible making the most profit possible. We have completely changed that trend by limiting the amount of business we take on and by insuring that we offer the best of best to everyone and anyone.
A limited amount of business intake means better quality as more time is available to focus on perfection. We must make sure that whoever we take on succeeds. We have become known as a company that turns down more business than it takes on. “Learn how to say NO to the good opportunities so you can say YES to the great ones”.
What has been the biggest success factors for Ohio Cashflow.
The biggest success factor for Ohio Cashflow has been is that we have established ourselves as one of the most reputable and best branded turnkey real estate investment companies in the country. We believe that success comes from doing things differently and being different is heavily reflected in our branding (Clothing, office, social media, interviews, videos, etc…). We are loud and proud and have turned quite a few heads. Also, since our inception (April 2014) we have generated over $1.5m in revenue and have bought, renovated and sold 50+ properties.”
Which do you think is most important: the right market, the right product, or the right team?
When I started my entrepreneurial journey the mentors that I had at the time stressed that I should always focus on establishing trust and relationships first before looking at the stats/demographics of a particular business or venture. Over the years I have found this to be very true.
It was never the stats/demographics that cost me money. I always ended up working with the wrong people that were greedy, dishonest, disloyal and not respectful. With that being said, I believe that having the right people around you is crucial to long-term success in any business or venture. “Team Work Makes The Dream Work.”
What are the biggest challenges you have faced launching and running the company.
In real estate there are always 3 things that cause the biggest challenge.
1) You have the money but not the right property
2) You have the right property but not enough money to buy it
3) You have a buyer for the right property but not the right property.
We are at the point right now of hitting the momentum and making all 3 fall into place. This will in return snowball our operation and we can then just focus on systems and making sure that everything is running smoothly like a well oiled machine.
What are the most important lessons learned over the years.
The most important lesson I learned over the years is to be more patient. Also, that starting a business or investing in real estate should never be about the title that comes with it (For example – “Entrepreneur” or “Property Investor”). The purpose should be much bigger than yourself.
It should be about bettering the lives of your friends and loved ones along with those in need. Today I have a clear understanding of why I do what I do and what my end goals are. I want to leave a legacy through my business ventures and see the smiles on people’s faces that have been helped by my business practices.
Final words for those chasing the startup dream.
Keep working the numbers. Whatever those numbers may be (emails, phone calls, meetings, etc.), work hard and work smart. It comes down to a commitment of 80+ hours per week and an undivided focus within those hours.
