Taking a calculated risk (When you are out of your league)

1 Reply

Of course, there are few who can match the wit and charm of both Joshua and Brandon but here is a real life story for those who quit, fail, or never get started:

I started my journey last summer making the choice to get my RE License in Indiana. I took on a few listings and my business partner and I did a few wholesale deals together. I think we are at around 12 or 14 since August 2014. He actually approached me with a house in a beautiful historical neighborhood that was not moving very fast. I had a few listings sold under my belt and he asked if I would take on his listing. Like any good mentee would do I reluctantly said yes. I was reluctant because I have just received my license and had only sold 4 houses on the MLS at this point. Not to mention this particular house was valued at over $300,000! My typical listings were around $20,000 and my biggest listing started at $189,900. So, this was a big jump for me. I started doing a couple of Open Houses and spent a decent amount of marketing and sure enough there came a buyer. This is not where the story ends, but where it actually begins...

I was walking my new clients through the difficult process of purchasing this house, and as a listing agent I also started getting inquiries about this same house. Obviously, this one was already under contract, but instead of saying "No, this one is already under contract" I said: "You know what-I know of some other houses around the area that might be available for the same price range." This is where the courage comes into the story...

My managing broker was telling me that he noticed (when he was doing the flip on the house he had just asked me to list) the house across the street was being renovated, and that I should go talk to them to see when they will be done. I thought to myself, O.K. you have to be kidding me! I am new and barley know the town I am working in-let alone, the fact that I have been doing this for only a few months. I gathered myself and walked right over there and placed a note on the door after getting no answer when I knocked on the door that read: I noticed you have been doing an amazing job on this home and wondered if you were going to be selling this anytime soon as I have a buyer who might be interested.

Now, I did have a buyer and they might have been interested in it but sometimes I think little "white lies" are tolerable. In reality, I had no idea if my potential new buyers who I had not started working with yet were really into this house or not. To make a long story short, I got the guy who was rehabbing this new house to have his wife (Future Listing Broker for this house) to give me a call. Wham! Then, the person who asked about my now pending listing made the choice to start working with me. Yeah, sure I could have passed them on to another more experienced broker, but how in the world am I to gain knowledge or experience if I do not get it for myself I ask? I am a doer not really a thinker. I learn the hard way by just getting in there and grinding it out.

Not only did they want to buy a house (this new client), but they had a beautiful house (around $180,000) to sell. Oh yeah, kind of a double dip I guess! Let me tell you that I was totally out of my league, and way out of my comfort zone. I am so proud to report that I sold this listing in technically 4 days. According to the MLS it was 6 days, but who is counting. We ended up selling their house, and I got them inside the house I put the note on the door across the street from my original listing and they bought this house. It was an enormous amount of work, and a great deal of stress but I netted more money in a single paycheck than I have ever seen in any single moment in my life. I credit this site, my mentor, and God for giving me the strength to get to the finish line.

The next time you think there are no opportunities out there for you. Just know, that I am out here making opportunities happen for myself and for those around me. I understand that luck favors those who take enough risks. You have to push through the noise in your own head and just make things happen. You will be so surprised and what you can accomplish when you do. I wanted to quit more than a couple of times, almost lost my mind more than once, almost had to start all over with the listing as my seller would not give in to any inspection demands, got really frustrated, but I now know the key to winning is-JUST DON’T QUIT!

Links to the 3 deals that make up this story are here:

The original listing my Managing Broker asked me to do.

House I sold for my new clients.

House that I left the note on the door which was not finished until the week before closing!

@Stephen Barton way to use the hustle muscles!  Every time you buy/sell, you are helping someone accomplish their goal. Sounds like "diligence" is a worthwhile attribute. You have a great mentor as well who knew you could do this and would learn more by doing rather than telling. Persevere!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here