Investor · Chattanooga, TN · Member since 2019 · 137 posts · 122 votes
Have invested time in Bigger Pockets for a year: reading, podcasts, analyzing, drive-arounds, learning, learning, learning. Thought my first deal was done, only to have it fall apart in the eleventh hour.
So many of you pros talk about hard times...but man, it is tough! And difficult to face up to my rookie mistakes that broke this deal.
I'm not asking for sympathy...but do want advice that will get my face out of this bag of chocolate and put my boots back on the ground so I can find my lost grit.
Investor · Santa Barbara, CA · Member since 2013 · 658 posts · 315 votes
7y
You can only learn so much reading and now you are learning while taking action. That's real progress.
You learned a whole bunch making rookie mistakes and it didn't cost an arm and a leg. Sometime those rookie mistakes are measured in 10's of 1000's of dollars.
Accept rejection and keep making offers that will work for you.
You are so right, some things do work out for the best, even if it hurts at the fail point. I'm moving on to the next deal, putting systems and checklists in place, and with a better understanding of taking the long view.
Thank you so much for the comment...I appreciate it more than you know.
BP has been a turn-around point for me, with other BP'ers giving advice, encouragement, and wisdom about my little setback. It has been incredibly helpful...and I'm grateful to be part of this community.
Advice I keep hearing on this thread is to keep going, because there are some wins and there are some losses...and "in the end there will be a great property, a great experience, or both."
Great words, Timothy...thank you for taking the time to encourage a newbie.
Flipper/Rehabber · Louisville, KY · Member since 2008 · 1k+ posts · 1k+ votes
7y
@Renee Yarbrough losing a deal is in no way a flop. Its like fishing. You don't have it until its in the boat. You will lose many....some for good reason...some for no reason.
Wait till you lose 30k on one before you label it a flop.
Thanks, Michael! I'm so grateful for all of you BP'ers pushing me to get up, dust off, and start walking again. It's been a wonderful blessing to have a place to receive advice, encouragement, and a kick in the pants.
Quality advice. Your comments on other posts show knowledge and expertise, two things I'm interested in acquiring. Thank you for taking the time to post on this thread.