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Posted over 10 years ago

Can being overwhelmed be a good thing?

I recently have had an influx of leads and deals. Could that be a bad thing, or can someone that doesn't have too much experience turn it into a complete success?

From one of my last posts I mentioned that rapport with your team members can go a long ways. Fortunately, that rapport turned into an accepted offer on a nice duplex deal (I'm hoping haha). Aside from that, I had two other accepted offers around the same time.

There was a HUD offer that I plan on living in with my current roommates for about a year, then moving to Manhattan and renting out for a nice amount of cash flow. I was a bit surprised that I got that accepted, because there listing price was $99,750 and I structured my offer as follows: $83,000 purchase price, $2500 commission to me, $2000 in closing costs, and $2700 put in escrow for repairs on a 203b loan. I was not expecting this to get accepted, but I think the repairs needed might have scared off any other owner occupants. However, this home should be worth between $115,000 and $120,000 with less than $7000 in repairs, and will cash flow $300-$400 for me when I move. Sounds like a great deal to me, as long as I can find the financing.

The other accepted offer was a small foreclosure that I made an offer on a month ago. I completely forgot that I had even made the offer because I never heard back from the listing agent; thus, I thought they had just rejected it or something. Turns out, the asset manager had been sick for a few weeks and just got back to work. I had a surprise email on Saturday that I had an accepted offer. It should cash flow a decent amount, and add some equity as well.

On top of these accepted offers, I have had a decent amount of leads come in on my website, and some good phone calls. I am going to try to get a couple of them under contract to wholesale to another investor. Even if just one were to work out that would be fantastic. If not, there are plenty of other deals out there to be had.

The problem is, I don't know if I can take all of this on at one time. Then again, this is my full time gig now, besides graduate school. I'm a bit nervous, because I am having to juggle quite a bit of stuff, since I don't have any other employees in my business. It seems pretty difficult to stay organized and focused on what I need to get done every day. But, it is going to be a great learning experience, and if I have to let one or two of these deals go, it won't be the end of the world. That being said, I am bound and determined to find a way to complete the purchase of all three of these, because it would add some great income each month. And, I would be fairly close to completing a couple of my goals for the year, which I did not think would happen. I just need to buckle down and get it done, I don't care how overwhelming it gets. I love what I do, and it makes every day worth it.


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