What were your struggle starting out Investing?

Question

What were your struggles doing your first fix and flip or other investment projects?

Timothy VanWingerden · Answer

I underestimated the time and money it would take. This applies to my first fixer-upper, as well as investment property. I thought I could take everything and convert it to a cost, but didn't account for the mental fatigue.

What I mean by mental fatigue is that with each step in the process, I was dealing with challenges that I have never before faced, and that was more stressful than I thought.

Biggest struggle I would say the mental energy it takes to get the ball rolling and keep it rolling. Even though my first 2 deals have not been grand slams, it is great to look back at the past year to see how much I have learned along the way.

Taylor L. · Answer

Not knowing what you don't know, and letting the fear of the unknown hold you back! From a nuts and bolts level, getting deal flow going was one of the hardest parts at the beginning.

Cody Ruff · Answer

@Mujahidul Huq. My struggle was just lack of funds and having analysis paralysis instead of just taking the leap and learning through out the process instead of thinking I have to know everything before hand.

Cody Rubio · Answer

@Mujahidul Huq is mainly not knowing where to start, how to find additional capital for the project, how to underwrite the investment, the way to talk with sellers and brokers, this book definitely helped a lot, if you’re familiar with multifamily properties “Best Ever Apartment Syndication Book”

Mujahidul Huq · Answer

Same here! That is why I'm trying to provide a hand-on approach when I sell investors their first home.  Yes, it will take me a bit of my time, but in the long run, I rather have my clients learn and make profit, then learn and lose money.

Bjorik Mutize · Answer

Networking. I did not know how to build relationships to get the answers/help/partnerships i needed.

Next tier, creativity with producing equity for deals. Ties into the first problem.

Mujahidul Huq · Answer

Tony, 70% really does not work in every market, but I can help you get very close to that. Let's meet up sometimes and I can show you my numbers. Is there a number I can reach you at?

Thank you

Tony Kim · Answer

Sounds good. I'll DM you!

Tony Kim · Answer

It's been very discouraging as the local flip market seems to have gotten very tight. Either that or the network of folks that I know is way too small. Anytime I try to run the numbers on a property, I always end up at a loss. As a full-time W2 worker, I don't think that I have the time or energy required in order to find a truly genuinely good deal. So as of now, it's still just buy and hold properties along with syndicated deals.

Jeremy Holcomb · Answer

Funding for scaling up. I come across a minimum of 5 properties daily in searching. Access to private/hard money is difficult at times. Most people I come across have a limit of 100-500K to invest and I appreciate it more than they know. However, I am networking to find someone who can lend up to several million to acquire more rentals. Most banks I find have unrealistic expectations for this industry.

What were your struggle starting out Investing?

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