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
Free eBook from BiggerPockets!
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.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.