So I'm going to open up a be very transparent here. I have been working on my real estate business for years finally had an opportunity and dropped the ball so to speak. I have done direct mailers and bandit signs to find wholesale deals and received a few calls. Just recently I finally got one that was actually looking very promising and it all fell apart because of my inability to properly assess comps and have reliable buyers lined up. As I pick myself back up to get on the horse I'm looking for any advise or a mentor in the South Suburbs of Chicagoland that I can partner with and learn from. Again I have a solid structure in place but when I got to the point of closing the deal it was uncharted territory and everything unraveled.
sorry to hear that @Jerome Lanier
Jeff Valentino is hosting a BP meetup in Orland Park, you should go and network
Thanks, I will definitely check it out.
If you go to a local REIA meeting , BP meet up, or a meetup.com meeting you'll find people there who know a thing or two. Especially if you go there with a deal, then they'll know your not just a tire kicker but you are out there hustling. A mentor makes all the difference check out the Chicago REIA (Real Estate Ivestor Assc.) I met my mentor at a local Charlotte REIA and was able to network as well.
I was literally in the same situation as you. I door knocked and planted signs and still I had no idea what I was doing. When I finally got a deal or someone that was interested I went to a meeting asked for help and so many people were there to help me out. They told me the prince range I should be in for it to be a good deal for them and I just knew I had to be at least 3k-5k below that number.
Good luck man!
@Jerome Lanier Wait until you get to the point where you run numbers, make the offer, get the offer accepted then the seller still goes with another buyer. This is a business of highs and lows. Take the lessons in stride but keep pushing like you are. Remember, we are not looking for deals, just opportunities to make a deal happen.
Hope this helps,
Hey there @Jerome Lanier ! It happens to all of us sooner or later. Knowing comps and repairs will help you minimize mistakes. Chalk it up as a learning experience and keep pushing!
Hope you can make it out to a meetup soon and we can talk more if you want-Jeff
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