Jensen creates luck with focus, hard work

Mike Jensen purchased Fort Collins Real Estate in 2003 at the ripe age of 28. In September 2008, he merged with Keller Williams Realty, and currently has 36 employees. His focus is on urban infill redevelopment projects, mixed-use development and transit-oriented developments, all with sustainable and green technology components.

He always had the entrepreneurial bug, starting a lawn business when he was young. As a teenager he worked as a carpet cleaner and in the middle of the afternoon, when the landlord walked in wearing cutoffs and flip flops, Mike asked him, “Shouldn’t you be at work?”

The landlord answered, “I am at work. This is what I do.”

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This gave Mike an early glimpse into who he wanted to be. In 1996, while pursuing his degree in real estate and finance at Colorado State University, he started his first company, Housing Helpers. It was a simple business model: find students who needed a place to rent, then find rentals or acquire the properties to rent to them. He grew the company from two employees to more than 50, before selling it in 2001 – just prior to 9/11.

Q: What was your initial startup cost and source?

A: Approximately $225,000, but because I had no money to start a company right out of college, and in fact I was over $28,000 in debt from student loans, I presented my business plan to Rich Taranow, who financially backed the startup of Housing Helpers. The agreement was that I would give up 50 percent of my commissions for the first 100 transactions. Rich expected it would take me three to four years, but I did over 100 transactions within my first 12 months, and shortly thereafter bought Rich out.

Q: What is the vision of the company and the community you serve?

A: For over six years, I’ve had this vision statement posted on my desk where I can see it every day: “Premier redevelopment, urban infill, and mixed-use developer in Fort Collins. By aligning with parties who will hold and share similar interests/visions possessing the wherewithal to implement the vision. Focusing on Old Town, the Poudre River corridor, areas surrounding Colorado State University, and in and around historically significant parts of Fort Collins. An emphasis on creating a cultural atmosphere that is friendly to residents, visitors, businesses and varied lifestyles while being sensitive and responsible to the needs of our community and the preservation of our environment.”

Q: Where do you see yourself and your company in 10 years?

A: I recently went through a divorce, and it really changed my thinking. My ex-wife said, “You were cheating on me with your work.” It’s forced me to really re-evaluate how my business can run without me. Since we merged with Keller Williams, I’ve been able to adopt their model and systems. I hope to be financially positioned to have ample time and energy to focus on things away from work. For example, I recently started a nonprofit, called Cause Kids Count, and I’d like to spend more time on it. I see the new company, Keller Williams, growing to over 500 agents from the 215 we have today.

Q: Are there one or two things you can attribute your success to? Was it luck, timing, someone who helped you?

A: You create your own luck. It takes hard work and perseverance to create luck. Timing in real estate is key; you have to know when to buy and when to sell. Having a clear vision; knowing what you want to accomplish in life. Knowing that we all have a limited amount of time in our life, and asking, “What do we want to be remembered for?”

Growing up as a kid I was the best at Monopoly, and I still am. There’s a simple strategy to win: you buy everything you land on, mortgage everything, get the cash and continue to buy, and as the cash flow increases you buy more. The more you own, the greater your leverage, and your cash flow in turn increases. There is no limit to the creativity you can use to cut any deal to acquire more. Just remember there are always shortcuts, and winning is the goal of the game.

In life and in business, you need to figure out what the “win-win” is; whether it is getting this deal closed, or being known as the place to go for downtown real estate. It’s all about knowing your win, and doing whatever it takes.

Q: Slogan to live by or what it might say on your tombstone?

A: Life is a negotiation. Live life to the fullest. Don’t be afraid to dream. Don’t be afraid to do anything and everything you want. Work hard, play hard. Find the win-win.

Brian Schwartz is the author of “50 Interviews: Entrepreneurs Thriving in Uncertain Times.” In upcoming issues of NCBR, he will be sharing some of his interviews with successful business people. Schwartz is also the founder of 50 Interviews Inc., and can be reached at www.50interviews.com.