Hey everyone, So I was wondering if could get some advice from some one. I pulled the trigger back in fall of 2017 I completely fell in head first it was a hard recovery. It was a fix and flip and I failed to meet my goal. I realized I don’t know what the hell I am doing. So I’m going back to square one. Anyways I been going to meetups trying to find mentors and or other experienced partners and just feel like I have nothing to show no portfolio or anything impressive to convince them to work, teach or help me. I have no credit but I do have some capital. That’s the only thing I can pretty much bring to the table a this point in my career, but I just don’t want to go to someone and say hey I have some money you want to work with me. I feel like I might become a prey to shady investors. What I should do?
Congratulations on your first 'failure'. No, really--it's actually much more important education-wise than a first deal that is a winner. You now have learned some of what NOT to do. It's not if/when you fall down: it's important that you keep getting back up.
OK, enough pep talk. Take a deep breath. Slow down. Remember this is a marathon, not a sprint. Slow and steady is the way to go. Keep going to your meetups, reach out to other investors, contact sellers and see if you can find a below market opportunity. I would offer the deal for a deeply discounted wholesale fee, IF the investor would let me shadow as a junior project manager.
@Marc Winter I did learn a lot of what not to do next time. I have read a few books here and there and have learned a few things. That’s a great idea. I would definitely love to be a shadow project manager, I would learn so much. Thanks for the advice!