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BlogsMy road to masteryfirst deal difficulties

Posted almost 14 years ago

first deal difficulties

Hello to anyone reading this!  I wanted to update my blog so I can keep track of my progress and hopefully get some feedback from the community.  I'm currently on my two week break in Tampa Florida and desperately hunting for my first deal to get the ball rolling but am having difficulties.  The main reason is because I don't know what a good deal looks like.  I met with a local real estate agent who gave me access to MLS but he also said that the good deals get bid on within the hour with multiple bids being put in.  So, here's my dilemma.  I work in the oil industry and my oil rig is stationed in the middle of nowhere in West Virginia about 1.5 hours from Morgantown WV which is where WVU is.  I work 28 days on and then get 14 days off.  I had originally planned to just find deals anywhere in the US and then go there on my two weeks off to set everything up as far as contractor, local agent, etc.  Based on what I'm reading on here though is that all the online resources for finding deals aren't worth much and you really need to do local advertising and make connections in your specific market.  This means I have to definitively choose a local market to get into and thus am lost because I don't know where I want to live.  I like traveling a lot and was hoping I wouldn't have to do that.  The good news is that I'm learning a lot on here and reading some books on my own so my knowledge is increasing but I badly want to put that knowledge into action in the near future.  So, for anyone reading this, is there a way for me to find deals through the internet or am I resigned to setting up roots in a local market and making my presence known?

Comments (2)

  1. thanks for the response Jon K....I'm glad I wrote that blog post because it made me realize how flawed my strategy was for a beginner like myself. I've now decided to set up roots in WV, take the state exam to get access to mls and then use my 14 days off to travel to different bpers and seminars to learn and then apply that knowledge in WV while working at the rig for the month. It will be a lot of work but I'm young so I can handle it :). I haven't used realtor.com at all so I'll start digging around there until I can get access to the mls in WV. Thanks again

    Ryan Stoltz, almost 14 years ago


  2. Ryan, I'd be careful about buying anywhere you happen to find a deal. For one thing the properties will be difficult to manage if they are spread out. Another issue is that you won't become an expert in a local market. I'd try to pick one area and commit to it. Don't be in a rush to find that market, but on the other hand, pull the trigger when everything looks like it is linining up. Also, I've found several deals through Realtor.com which is basically MLS for the non agent.

    Jon Klaus, almost 14 years ago