Go Ahead And Crash And Burn On Your First Deal - It Will Work Out

Reno, Nevada
House Hacking
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Go Ahead And Crash And Burn On Your First Deal - It Will Work Out

Wesley PittmanBusiness Member
Real Estate Broker · Reno, NV · Member since 2015 · 116 posts · 48 votes

I just created a blog post on my first real estate deal which was a total disaster. In spite of all my mistakes, it worked out really well, and since then I've grown my real estate business to have more rental units, do ground up development, and flip a lot of houses. If you are on the fence about getting into real estate or experiencing analysis paralysis, I want you to read this and realize you don't have to be perfect. As long as you keep with it, real estate is very forgiving and will work out in the long run!

Link to blog post: https://www.biggerpockets.com/...

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Ryan ThomsonBusiness Member
Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
3y

@Wesley Pittman great post. When I work with House hackers in Colorado Springs we definitely talk about how if it doesn't scare you a little bit and it's not hard it probably also won't be that financially or emotionally rewarding. 

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  • Randy Rodenhouse
    Investor · Charleston, SC · Member since 2011 · 606 posts · 413 votes
    3y

    I like the saying "If it is worth doing, it is worth doing wrong until you get it right"

    2Reply
  • Ryan ThomsonBusiness Member
    Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
    3y

    @Wesley Pittman great post. When I work with House hackers in Colorado Springs we definitely talk about how if it doesn't scare you a little bit and it's not hard it probably also won't be that financially or emotionally rewarding. 

    The Assumable Guy544 Reviews
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  • Wesley PittmanBusiness Member
    OP
    Real Estate Broker · Reno, NV · Member since 2015 · 116 posts · 48 votes
    3y

    @Ryan Thomson

    There's a lot of truth in that. In my experience a meaningful/fulfilling life is a lot about growth and transformation so if you're not pushing yourself, you may be more "comfortable" but it's the kind of "slowly dying" comfortable that doesn't give you opportunity to grow your self-esteem, capacity or abilities.

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  • Davis Carter
    New to Real Estate · Redlands, CA · Member since 2021 · 6 posts · 2 votes
    3y

    @Randy Rodenhouse Great saying! I think it's so important to allow yourself to fail forward and just get started! 

    1Reply
  • Patricia Steiner
    Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
    3y

    Great saying but it doesn't always work out...I get contacted by BPers on a regular and routine basis who are looking to survive a first deal gone so horribly wrong.  I'm thrilled for your experience and for sharing your confidence...but not everyone is you.  Sometimes diving in head first results in a broken neck.  

    Taking risk is a requirement for doing anything; taking managed risk is the stuff of wealth building.

    Best...




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  • Ryan ThomsonBusiness Member
    Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
    3y

    @Wesley Pittman I like to think about it as "getting a little better everyday". Good word man!

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  • Kenny Smith
    Real Estate Agent · Denver, CO · Member since 2022 · 356 posts · 228 votes
    3y

    @Wesley Pittman

    Love this!  Ain't that the truth.  I can't tell you how many times I've asked myself why am I doing this or what have I gotten myself into.

    I like to say, "be willing to live a few years how most people won't, so you can live the rest of your life how most people can't"

    Very powerful stuff!  Thanks for sharing.

    1Reply
  • Jake AndronicoBusiness Member
    Realtor · Reno, NV · Member since 2019 · 1k+ posts · 938 votes
    3y

    Loved hearing this story in person at your meet up. Great meeting and looking forward to going to more! 

    415-233-1796
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  • Brandon P.
    Lakeland, FL · Member since 2018 · 243 posts · 148 votes
    3y
    Great article, fun memes, and most importantly a small 441% on your investment. :)
    0Reply
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