Hi BP Community,
I wanted to share a success story of implementing a tip I learned from BiggerPockets.
PRO TIP: Tell all your friends, family, and even strangers what you are working on.
I've read or heard a form of this advice in Anson Young's book on Finding and Funding Deals, in Brandon Turner's Book on Rental Property Investing, a quick tip on the Podcast, and from numerous podcast guests and I'm here to tell all my fellow noobs that IT WORKS!!
I just started investing in Kansas City this year and have been telling all my friends ad nauseam about the benefits of buy and hold rental investing. Well a few weeks ago one of my good friends emails me and says, "hey one of my clients needs to raise cash. He owns a bunch of property in KC. Are you interested?" To which I reply, "hell yeah I am but I don't have the cash so let's figure out how to make it work." We ended up partnering 50/50 on the deal, and his father who has been looking to invest in real estate, acted as our private money lender so we could close quickly, in cash.
Fast forward a few weeks later and I've just closed on an off market deal where we paid $15k below appraisal for a tenanted cash flowing SFR, started a partnership with a great friend who has a very complimentary skill set and work style to mine, and gained access to a private money lender with deep pockets. All of this because I simply spoke up about what I've been doing. For all the new investors out there, speak up about all the hard work you're doing, it pays!
Dope. They say the tongue has creative or destructive power/power of life or death...
Speak life, health and prosperity!
Great job Alex and good luck moving forward!
That’s awesome man I hope to get there soon looking to close on my first deal by January. I was always taught to talk about it all will help your drive and can get you leads to something great.
Studies show you are less likely to be successful (at whatever you’re doing) if you speak up about what you’re doing. This mag work for you but in many cases it does not.
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