On episode 131 of the Better Than Success Podcast host Nicole Purvy interview Heidi Becker. Heidi Becker is the founder and CEO of American Deed Transfer and Acra Settlement Company. Licensed in PA, NJ, MD, and VA, Heidi has been in the title industry for 15 years. She is also a real estate investor, rehabber and flipper. Last year alone she did 5 flips and she’s currently building a rental portfolio of apartments buildings and multifamily rentals.
How to Start and Grow a Successful Title Company and Real Estate Business in 2 Years
Heidi Becker moved to Philadelphia 5 years ago and now runs 2 of Philly’s well-known title companies. Heidi made this move strategically knowing Philadelphia was a great investment area. “What is the motivation behind title?” Nicole asks Heidi during the interview. Heidi expresses her obsession with real estate since she was 16 years old which was her initial motivation. Thinking she wanted to be a real estate agent, Heidi found her true passion in title after working as an admin at another title company. She shares how her superior at that job at the time was a great teacher molding her into the title field. For those who may not be aware, ‘Title’ is to represent the contract and control all of the money in a real estate transaction. After being put in a position to do what she wanted and having a baby only motivated her more because she did not want to work a 9-5 job raising her child. She was recruited to do real estate settlements in Philadelphia and she took the opportunity to start her own title company.
What is the process of starting a title company? Heidi explains this took over one year because you have to interview with underwriters and see who is going to give you the best support.
What is an underwriter? Underwriters are the agents who backs up the contract and it is very important to choose someone who is reputable and to be around if something big happens. Heidi says “After hiring the RIGHT staff and keeping my overhead low, my business started to move rapidly”. How did you get into real estate? “It was always in the background… I just always had a passion for it. I went and got a partner, made an LLC, started looking for property, used hard money and was able to complete my first project” Heidi says.
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Top 3 tips for investors from a title company perspective:
- Organization is key (Both investors + wholesaling)
- Work fast and work with the deadlines!!
- Have the last 10 years of addresses (if you’re investor and you have liens, those are going to have to be paid)
Acro Settlements– 2nd Title Company