Well... its been 4 weeks since I started working with Dean's strategies. I've read thousands of posts in the forums, taken extra RE MCE courses, talked with tons of investors, gotten guidance, suggestions and tips from a handful of amazing vets on the site. I've connected with a few RE clients who need an REA as well, just from using some of the techniques I've learned. So Im helping more people than ever buy or sell their homes.
Because of the disclosure laws in Texas (and the fact that I am bound by my code of ethics as a licensed Realtor) I have decided that the most profitable, least questionable method for me is a fix & flip. I found a partner who is willing to take on the financial responsibility and allow me to manage the sale, rehab, and re-sale of the properties. She wants me to research as many HMLs as I can find to make sure she gets the lowest interest rates and points possible. I've found that to be difficult (since I dont want to be responsible for applying for loans, etc on her behalf) but I did narrow it down to a couple different lenders she can contact. I located several dozen extremely low-priced properties in my area (already marked 50% of ARV or below) that dont even need to be negotiated. I've run comps, scoured the neighborhoods, double checked my figures.... I narrowed the list down to the top 3 deals. All that's left to do is pull the trigger.
But Im scared. Im terrified that once I do this, something will go wrong. We'll miss something in the inspection. Or it will sit on the market and eat up all the profit. Or it'll be vandalized and the rehab work will be wrecked. I cant seem to shake this fear... my 'villain' is terrorizing me. I know that the reason I crumbled years ago and lost everything I had built was not because of anything I could control. I know that. I can't lose my dad suddenly again... he's gone. People only die once.
But it still eats at me... the kids and I are finally on solid ground after years of rebuilding when everything fell apart. What if I fail again? Ugh but I know I have to fight that feeling... I know I do. I've found my first deal. I have three properties to choose from.. which ever one I can get to go lowest will be the one we get started on this week. I just have to suck it up, figure out how to shut the voices in my head up, and go for it. Tomorrow is the first day of the rest of my life.. I can't stop now when I'm so close!
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
Chin up!
Just remember that you are not in this alone...we are all right here with you. That's what being part of the DG Family is all about. Feel free to vent, kick, and scream...but at the end of the day, we are still here to pick up the pieces (or kick you in the pants.)
For what it's worth...I discovered that I was my own worst enemy. I was so focused on the what if's that I missed out on a $100K deal. My loss can be your gain. Learn from my mistake and go take what's yours.
Jennifer
Monica
The fear is the biggest hurdle of all! That is what stops so many of us in our tracks.
All you can do is your best. I HONESTLY know that you can make it happen.
Call me tomorrow and we will talk. But not before noon your time.
I'll PM you.
Karen