I’ll be the first and not the last to tell you that your first deal takes time.
I likely had 4-5 contracts fall out before one stuck.
This house never made it to contract but I still learned a lot on site.
First one was a wholesale deal.
Minor cosmetic work.
I pull up..wait outside for them to arrive.
A guy walking across the street was kind enough to tell me where the lockbox was located (on the side water spout) but that he wasn’t sure if the code “worked anymore.”
Thank you sir 🥲 for the kind gesture. I’ll wait.
My partner, then the wholesaler pull up. Person assigning the deal, unlocks the door and we walk inside.
I am surprised to see that yes..the house needs cosmetic work.
Plus foundation work as half of the house from the back was splitting and clear as day.
It also needed a new roof and structural changes.
Oh and a fence..because most avoid paying for a house and immediately taking on a project.
We didn’t overlook this was a hoarder house and dumpster fees add up. 👀
The layout was quite beautiful with the kitchen in the middle of the floor plan.
BUT and this was a huge caveat… it was not as advertised.
It was not a cosmetic flip and the price was incredibly too high for it to make sense.
They couldn’t get the price down.
We couldn’t pay more than what we considered.
No deal.
I share this because soooo many people think real estate is:
Quick -> get a lead -> put it under contract -> finish with no issues -> flip -> sell for huge profit all within 6 months time.
If it were that easy, everyone would be doing it.
Take your time.
Trust the process.
Without patience you could find yourself in a 🥒
How long did it take you for your first deal?
#multifamilyinvesting #realestateinvesting #realestate
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2moBiglot first company united state of America