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Well, I’ve been learning what it takes to be a wholesaler, something I need more of in order to succeed: guts! If I make an offer, will it be low enough to leave any profit for me when I sell it to a buy-rehab-flip investor? More importantly, will an investor buy it? Will I back out of the closing and make everyone mad? Or will I go ahead and buy it with no buyer in sight, whether that’s a good idea or a terrible one.
The fact that there’s so much less money (in my stock funds) than there used to be is, I think, making me more cautious and timid about investing. The amount of money I have to put into real estate investments is quite finite, and it’s scary.
I’ve been holding off on buying a large multifamily, too, because prices are still dropping here. An even bigger bargain is always tempting.
Chutzpah, balanced with good judgment. I need more chutzpah, I think!
Wow! Linked up with a partner from Texas while I was at the David Lindahl seminar on Syndication with Private Investors. Now we are discussing a specific apartment building, in a terrific location in an emerging market. Is this cool or what? How lucky I was to hook up with someone who lives in the area, the American emerging market, so he can check out properties and knows the neighborhoods.
I not only discovered a well-located partner, but we discovered some similar values – what we wanted to do if we succeeded in achieving financial freedom through investing in real estate. What kind of luck is this?
It seems there are a lot of demands in this business! Tonight was networking at the Chamber of Commerce. I’m not sure I got my cards out to everybody – well, certainly not to everybody – but a few people seemed mildly interested in emerging markets. Not so interested I gave out my CDs.
I can only do so much mingling in a room full of people talking loudly. I spent some time with people who opened conversations with me, but didn’t get talking about real estate to everyone. They say that’s bad form, anyway, that it’s important to listen. I spoke to a graphic designer, the head of a private school, someone who worked with commercial waste removal, and a bunch of folks from an internet company. I guess it wasn’t too bad! Networking seems easier at the Real Estate Investors Association; everyone knows we can all use connections with each other, usually in clear and direct ways. Tomorrow night, conquering networking at the REIA! There’s been plenty of practice for all of us, at the speed-dating, I mean, speed-networking. But this will be my first time to network with an agenda. It’s cool – it’s an opportunity for them, as much as for me. How to conquer shyness in the networking gig!
