Another light bulb goes off

[Jesse LeBlanc]

Although not exactly a RE success, more of a proud moment for me as an Investor! I want to thank everyone here on Bigger Pockets. I've always been one to search for what I didn't know versus asking about what I didn't know. I've finally popped the cherry of responding to others on BP. All that to say, I've been on this forum all day, glued to BP. Waiting for the chance to chime in. I can feel the excitement level rising now. Honestly, I've been looking forward to the emails from my keywords over the last couple of days. I've already learned more and contacted several others now that I've finally decided to chime in. Thanks again to everyone out there in this business making my life easier by the knowledge you've shared. I'm almost caught up on the podcast and I've already finished every book that comes up most frequently. :)

[Jesse LeBlanc]

@Dmitriy Fomichenko - Majority of the deals I did with my partner was in DeKalb GA. One (the epic failure) was in Snellville Ga. My expertise was project management running the subs. His position was finding the deals, running the analysis and handling the finance side. Unfortunately I was SO GREEN on the financial side so I trusted him and vice versa. However, he was more outspoken than I was and always assumed work could be done cheaper than reality (he lives in Spain). So little did I know until many deals have gone by that he always over estimated the ARV and under estimated that rehab cost!

This put a lot of stress on me managing the projects but I learned more than I ever thought I would in one year.  All that to say, we made a profit on every house but not enough worth the time I put into each project.  I believe they averaged around 15k each.  Hence why I decided to start studying his side of the business and venture off on my own.  Now, I realized how easy it is to analyze and find deals.  I've since stepped away from managing the project giving me time to find more deals and study study study.  I'm far more conservative in my asking price and not afraid to walk away from any seller if the number isn't right for me.  I refuse to allow the mistakes of my past to happen again. :)

Do you have a couple books that you have found helpful in your career?  Be it Real Estate, business or self help.  I'd like to add another to my Amazon cart.