Chasing My Tail...Need Advice
Listened to tons of podcasts and read a few books and I’m beginning to lose my damn mind. I’m hearing all these stories of people quitting their jobs, zero money down deals and people barely able to walk because they’re tripping over amazing deals. I’ve always fancied myself a pretty smart guy, but am beginning to wonder?...”Dunning-Kruger effect?!!!”
I’m interested in buy and hold properties, but my area is too expensive (Northern VA). I’ve branched out to cities within a 5 hour drive and have been scouring the MLS and wholesaler websites for days and running numbers on hundreds of properties. My criteria has been 25% down on a single family or anything that’s multi-family.
Nothing makes sense on paper if I put only 25% down. $100/mo profit at best per property if everything goes right. At that rate I’ll need 100 properties to make a decent living. That doesn’t make sense.
I’m thinking I need a mentor or consultation (which I’d be willing to pay for).
Where can you find a deal?
Can you low-ball a wholesaler?
The deals I’m hearing on podcasts don’t come close to jiving with anything I see ...