OfflineI realize this is the success forum but as much as we all talk about how failure is a GOOD thing it surprised me to not see the most important topic in here FAILURE!
So I wanted to post some of my failures and hope that others will do the same so we can all learn from each other and hopefully avoid one less failure or major set back by learning and sharing with each others FAILURES:
1.) First time I put up bandit signs my first ever call I received was from a lady that asked me if I bought HORSES because she has a couple that she wanted to sell! I told her no thank you that i wanted to buy HOUSES not HORSES any condition. I was frustrated and did not put out signs for a few months. I have since learned to use a yellow corrugated bandit signs 24"x18" and use a black magnum sharpie and roll with the punches, to be creative in frustrating times.
2.)The first few REAs I talked to when I was trying to find a investor friendly agent I told them I wanted to do assignment of contracts and then began to tell them all about how to do it and then they all told me that it was illegal in CA and that I could not make offers unless I have a POF for buying this property and blah blah blah...!!
Now have learned that my exit strategy is none of my agent business and when I'm looking for a new REA I tell them I want to buy fix and flip creating about 25k profit. I get POF letter for my offers from a hard money lender and transactional funding sites.
3.) After telling many of my family and friends how i was going to be a RE investor and help retire them all, I received a lot of "ok sure just don't lose all your money along the way because real estate is very risky and you better know what your doing!" Yeah well I did not know exactly what i was doing but Dean's education has allowed me to change that to minimize my risk and maximize my profits!
I have a lot more that I will be adding and hope others will share a few stories that I can learn from and we continue to move forward and keep taking action!
Make it a great week!
Thom
I am a Professional Real Estate Investor! And I see a whole army of my countrymen, here in defiance of the J.O.B. You've come to fight as free men/women... and free men/women you are! What will you do for that freedom?? Will you fight?!! Lets fight for it together!!!!
I talked to a Realestate Attorney yesterday who didnt even know what a double closing was, just laugh and move on, we will run into all kinds of things along the way just part of life, dont take it serious, Jim
jbischoff
Wholetailing deal...first time i tried to wholeasle in San Diego was from another wholesalers deal. I sent my buyers over there and I had trusted the other wholealaers numbers(FAILURE). I learned to always do your own due diligence and TRUST BUT VERIFY!!
I am a Professional Real Estate Investor! And I see a whole army of my countrymen, here in defiance of the J.O.B. You've come to fight as free men/women... and free men/women you are! What will you do for that freedom?? Will you fight?!! Lets fight for it together!!!!
Nice, Thom! We always think about success, and think LESS of our failures bc they sound bad & you think, "Who wants to remember your failures?". I've never thought of it that way.
I can attest to verifying everything ~ You might appear foolish to your buyer if you don't. And if the wholesaler gives you "the look" or they roll their eyes, it's their problem. I've always wanted to "Wholetale" or wholesale a wholesale, but I've never had the chance to do or try one. If you're in or near my part of Arizona, Boise (ID.) or Kentucky & you have deals, I wouldn't mind working together.