Meet Cecilia: she created a highly successful property management company in less than 3 months.
Company founder, Cecilia Faraci started her Real Estate career in 2001 in one of the hottest markets in the world, Orange County, California. Cecilia worked for Tarbell Realtors, the largest family-owned real estate company in Southern California. The training and exposure to real estate that she received in “The O.C.” gave her the ability to easily transition into the ever changing Real Estate market in the Northeast. Cecilia became a licensed Broker in Rhode Island and eventually Connecticut. Cecilia started Revolution Properties after numerous years of managing her own large portfolio of property and being unable to find a company that offered a comprehensive real estate solution – A full-service Real Estate Brokerage, Property Management and Maintenance & Construction Services all under one roof.
Q: Tell me about your background and Revolution Properties. What are the long-term goals of your company?
CF: REvolution Properties was born out of a passion for ‘All things Real Estate’. I started my career as a CPA because the accounting industry was (and still is) a great way to make a living. The only problem was that I was not passionate about Accounting. My husband and I used to spend our Sunday afternoons walking thru Open Houses as a hobby. We would get design ideas and dream about owning our own property. We eventually bought our first home which was a complete rehab project. We spent every free waking hour for 2 years bringing that house back to life. We eventually subdivided part of that property, sold the land and the house for a substantial profit. We had never worked so hard, but we had also never felt such tremendous satisfaction. When the economy crumbled in 2008 and real estate was literally on sale in Connecticut, we leveraged some of our profits from our first house along with a 401K loan and started buying. We flipped houses and we bought multi-families. We did all of this while working our full-time jobs. We eventually grew to the point where I was able to leave my full-time job to start REvolution Properties.
REvolution Properties is a unique company in the respect that we offer a comprehensive solution for a broad range of Real Estate needs. We are a full-service brokerage for real estate buyers, sellers, and investors. On top of that we offer Property Management services for the investors who would rather be hands off as well as offering Maintenance and Construction services. This 1-stop solution helps us better service our clientele.
Our long-term goals are to continue to keep doing what we are doing and grow organically. We are currently rehabbing a condo and purchasing another 7-family to add to our portfolio on top of working with our real estate, property management, and construction clientele. Our diversification will allow us to weather all of the fluctuations that the real estate market is known for.
Q: You created in a very short time a highly successful property management company. What were the key actions you took that made RevolutionCT such a quick overnight success?
CF: Nothing happens overnight. It took a lot of work to get here. But if I were to narrow it down to (3), I would say that it would be:
- A vision or goal and relentless hard work
- An existing business network
- The internet
We are in a unique time in history where the internet is part of our life and millions of people have access to unlimited information right at their fingertips. A great website and some SEO gave home buyers and investors from all over the U.S. access to our services. I am currently working with a property investor who lives in California and a home buyer who is moving to Connecticut from North Carolina. There was a time not too long ago where something like this was not even possible.
There is a saying that ‘the harder you work, the luckier you are’ and I am a true believer in that. Have a vision, set your goals and work hard. Then go back periodically and keep tweaking and measuring your outcomes. My company looks different now than what I thought it would look like when I first started but that’s ok. I was able to adjust to the changing environment.
Lastly is a great network of like-minded people. If you want to be successful in real estate, hang around with people who are successful in real estate. A good network will help you exchange ideas and will lead to more business.
Q: Despite the rapid success, what challenges did you have to abandon because they were holding the growth of the company back?
CF: It is interesting you ask that because of my answer to the previous question. My company looks very different today than what I thought it would look like when we first started. I think the secret is to have measurable goals but to be flexible enough to adjust your goals and expected outcomes based on an ever changing business environment. I never thought that the residential real estate segment of my business would be so successful, but it is. I adjusted and turned my focus towards that market and our office currently has multiple agents working on closing a couple million dollars’ worth of business right now. I would have never imagined that a year ago.
Q: Do you have any advice for aspiring property owners and managers?
CF: If you have a passion for something…..go for it! When you are looking back on your life, you do not want to have any regret. Success is good and even failure is good. Regret is not good.
Q: If you could choose one thing (good or bad) to tell all aspiring entrepreneurs, what would it be? It can be a motto or a personal catch phrase you love, or just some real world advice that was something you learned from skin in the game.
CF: Do what you love and everything, including success, will follow.