Seeking success, Is failure what it takes to get there?

Question

Which would you choose? Failure or success? Success is what I am looking for, but I will choose failure in order to learn and grow. I work for a company that acquires real estate for a holding company and I am running into the same problem that I am sure the majority of real estate investors are facing right now....finding deals that are worthy of purchasing. With the current market being one of the strongest sellers markets we have seen in recent history and my job title being "Acquisition Specialist" what am I missing? I have reached out to divorce attorneys, property managers, wholesalers, agents, Facebook groups, BP forums, banks, ....the list goes on. I have met some amazing people and some that aren't operating from a place of abundance to where they may have been able to help. I am LOVING growing in this community, however if I don't start acquiring properties soon I won't have the financial wherewithal to take care of myself and my family. Failure for the sake of growth is an option I am fine with. Failure due to laziness and not asking the right questions is something I can not live with. Am I in a plating season of my career to where the deal flow will come? If so am I sowing my seeds correctly? Let's share thoughts and grow together BP!

Account Closed · Answer

@James H Webb III I think your mentality is awesome! We should never crave failure and I argue we should hate failing! BUT, going into this journey with the mindset that you will fail is important so you can be on the lookout for how to grow through failures. I love Thomas Edison's quote, "I failed my way to success"

Always learning, always growing

James H Webb III · Answer

@Scott Mac I think that is an excellent two cents! I am gonna start today with good ol fashioned pen and paper to start measuring contacts, leads, and opportunities.

Scott Mac · Answer

Hi James,

Being an "Acquisition Specialist" who can't find deals that meet your employers requirements must be tough.

But this part is a numbers game, such as sift X potentials = find 1 possibility to look at closer. X possibilities to look at closer = Y PSA's.

Figure out how many leads you must burn through to get to one Lease Audit and that will give you an idea of your workload to get a closed deal.

If you have burned through (just picking a for instance number here) 2,000 so far and not one meets your employers criteria...that seems like looking for a needle in a haystack.

But it could be worth it...depending on how much you make for that needle and if you get a part of the deal or not.

Just my 2 cents.

James H Webb III · Answer

@Theresa Harris Absolutely. We need those properties that need close to 6 figure rehabs. Im fortunate enough to have the funds from the company to do that! Its cool being able to have an abundance of capital to make moves with. @Sean McDonnell To expand they talk about having time, money, and deals in order to create success. I have the time, my company has the money, now all I have to do is find the deals! I may just have set personal expectations that are unrealistic and need to adjust and focus on lead measures.

Theresa Harris · Answer

All of the places I bought were listed on MLS.  It depends on what you are looking for.  What about places that need a bit of work?

Seeking success, Is failure what it takes to get there?

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