Find Your Gap, Not Your Crowd
Most of us joined BiggerPockets for the same reason. We're high achievers, or we're working to become one. We read the forums, join mastermind groups, and surround ourselves with people who are further down the road, because that's how you get better.
Somewhere along the way, though, a lot of investors start using community differently. Instead of looking for the person who solved their problem, they look for people who share their problem. It feels good to read a thread full of people saying the same thing you've been saying. It doesn't move you forward one inch.
I see this every week from the lending side of the table. The investors who grow aren't the ones with perfect markets or perfect timing. They're the ones who can name exactly where their process breaks, and then go fix it.
Start with one honest question: Where am I right now?
Not where you want to be in five years. Not where the investor with 40 doors is. Where are you today, and what is the one thing that would make your next deal better than your last one?
For most investors, the answer falls into one of three places.
1. Your team. If you're newer, this is usually the gap. A deal needs a realtor who understands investors, a contractor who can bid accurately and finish on schedule, a lender who can close on your timeline, and an escrow or title company that doesn't let things stall. If one seat is empty or filled by the wrong person, every deal will feel harder than it should. Look at your last deal or the one that fell apart. Which seat was the weak link?
2. Finding the deal. You have the team, but your pipeline is thin. That's not a market problem; it's a sourcing problem. Are you relying on one channel? Are you following up consistently? Are you making offers, or just analyzing? Volume of activity usually fixes this faster than anything else.
3. Underwriting the deal. You're finding deals, but they aren't performing the way your spreadsheet said they would. Rehab runs over, the ARV comes in light, holding costs eat the margin. This is the most expensive gap to leave open. Tighten your comps, get real contractor bids before you commit, and stress-test your numbers with a longer timeline and a lower exit price than you expect.
Don't trade the question for a story
It's easy to fill in the blank with something outside your control: "rates are too high," "there's no inventory," "contractors are impossible right now." Every one of those may be true. None of them tells you what to do Monday morning.
Other investors are closing deals in the same market, with the same rates and the same contractor shortage. The difference isn't the conditions. It's that they found the specific part of their process that needed work and worked on it.
Use your network the right way
Your mastermind, your local meetup, and this forum are incredibly valuable, if you use them to close gaps. When you post, don't ask "is anyone else struggling with this?" Ask "who has solved this, and what did you change?" Seek out the investor who used to have your problem and doesn't anymore. That's the person worth learning from.
Your action step for this week
Write down the one gap that cost you the most on your last deal, or kept you from getting a deal at all. Then write down one specific step you'll take this week to close it. Interview a second contractor. Add a new lead source. Rebuild your rehab budget template. Call a lender before you need one.
Small, honest improvements, repeated deal after deal, are what separate the investors who grow from the ones who stay stuck in the same thread.
Find your gap. Fix your gap. Then find the next one.
What's the one gap you're working on right now? Drop it below; let's talk about what's worked.
— Kip Adkins, Diversified Financing Solutions