When I was new and trying to lock in my first deals, my approach was to try and find a deal FIRST, then put a team together to get everything done. This was a big mistake! The problem here is that when you’re new you don’t really know what great deals look like, having smart and experienced people around you can help tremendously. Another big problem is this method is, by design, destined to create bottlenecks. Hurry up and find a house, then wait to find a contractor. Hurry up and get the rehab done, then wait and find a property manager to get a tenant. We finally got the house rented, now I can’t find a lender to get a loan. This is madness! and going through that kind of annoying setbacks forced me to approach my acquisition differently by getting a team together FIRST!
Broke is a Choice is DEAD
November 24, 2023
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