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Updated over 1 year ago on . Most recent reply

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241
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179
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Jeremy Beland#1 Wholesaling Contributor
  • Real Estate Coach
  • Derry, NH
179
Votes |
241
Posts

The house that taught me a $40,000 lesson in 2019...

Jeremy Beland#1 Wholesaling Contributor
  • Real Estate Coach
  • Derry, NH
Posted

It was a nightmare which only made me $4k.

After securing the deal, the buyer made my wife and I go through three-feet deep of snow to "winterize" the house so there wouldn't be any plumbing issues.

It was a 2 hour drive there, and a 2 hour drive back.

So much time and effort put into it for only $4k...

The person I sold it to made $40k weeks later doing nothing to the property but listing it on the MLS.

All because he had more leverage.

He knew I was in a tight situation financially and took advantage of me.

He turned me into a motivated seller.

As painful as this lesson was, it made me make major operational changes.

As well as it forced me to have a mindset change too.

A much needed one!

I no longer work from a place of scarcity.

I set myself up for success and work from a place of abundance.

I have built my cash buyer list to close to 5,000 buyers, invested into a coaching program for private lending, and developed multiple exit strategies to be ready for any situation that presents itself.

It let's me earn $40k per deal consistently today and occasionally hit some $90k+ homeruns.

Embrace your mistakes, learn from them, and adapt.

This is the only way to grow.

Most Popular Reply

User Stats

5,066
Posts
13,320
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,320
Votes |
5,066
Posts
Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

“The ability to attend to a task and stick to long-term goals is the greatest predictor of success, greater than academic achievement, extracurricular involvement, test scores, and IQ. Gritty students succeed, and failure strengthens grit like no other crucible.”

― Jessica Lahey

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