Here is a story about perseverance, commitment and drive that has inspired me in such a way that I felt that I had share it with all of you. Let me introduce Chris, an experienced investor who experienced a slow down in his investing business after the market crash. His challenge was funding deals and the way he overcame it was absolutely brilliant.
First, Chris has been relentless with his networking, building strong relationships and surrounding himself with successful individuals. This has really paid off. But what was so brilliant was that he did not focus on making money, he focused on building a long term business. To do that, he knew he had to be doing deals regardless of his return. So, he offered almost all of the profit to funding partners. While most investors told him he was crazy and noted that they will not get out of bed for anything less than 50% profit split, Chris is doing deals and depositing checks. This decision was brilliant and his business has skyrocketed.
Let’s fast forward to today. Since implementing this strategy, he has already flipped 2 properties, wholesaled one, has 3 more rehabs going and has a ton of offers out there. All of this has occurred in only 3 months. He is working 20 hours less per week and is on track to do 20+ deals in 1 years time. He now has other investors offering better profit splits and can easily renegotiate with his current investors. On top of that, he is a real estate agent so he gets the commission from the listing on each flip. It has been incredible watching his success and he could not have done it without the willingness to take only a 20% profit split.
Chris has really inspired me, and I think that every beginner should learn from his incredible story. I now believe that many beginners should think about doing deals for free, just to build their business and a track record; any profit is a bonus. This is a brilliant way to get off the sidelines and into the game.