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Updated about 1 month ago on . Most recent reply

User Stats

179
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101
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William Thompson
  • Accountant
  • Williamstown, NJ
101
Votes |
179
Posts

If You’re Just Getting Started, Focus on This First (It’s Not Finding the Perfect Dea

William Thompson
  • Accountant
  • Williamstown, NJ
Posted

When I first started in real estate, I thought the key to success was finding that one perfect property.

But looking back, the thing that made the biggest difference wasn’t the deal — it was the foundation behind it.

Here’s what I wish someone told me early on

1. Get organized from day one.
Separate your personal and business finances. It’s a simple move that saves you so much time (and stress) later, especially when taxes or lending come around.

2. Find a CPA or advisor who actually understands real estate.
You don’t need someone who just files your return — you need someone who can help you plan around it. The right advice early can save you thousands later.

3. Don’t get paralyzed by perfection.
Your first deal won’t be perfect. That’s okay. What matters is learning how the numbers work, how to manage tenants, and how to stay consistent.

Every experienced investor started where you are — figuring it out one property at a time.

Curious — if you could go back to your very first deal, what’s the one thing you’d do differently?

  • William Thompson
  • [email protected]
  • 609-820-0891
  • Most Popular Reply

    User Stats

    5,062
    Posts
    13,313
    Votes
    Mike Dymski
    #5 Investor Mindset Contributor
    • Investor
    • Greenville, SC
    13,313
    Votes |
    5,062
    Posts
    Mike Dymski
    #5 Investor Mindset Contributor
    • Investor
    • Greenville, SC
    Replied

    1 - open a bank account (simple)

    2 - don't need a CPA

    3 - i would not recommend targeting an average deal

    Focus on deal sourcing and analysis and ignore this spam.

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