I remember flipping my first deal like it was yesterday. To be honest, my first attempt at flipping real estate in 2006 was an #EPICFail as the millennials say. I was all alone, undereducated and over optimistic. Although I lost over $90,000 on my first deal, yup I said it $90,000! I was not discouraged. The way how I looked at it was, I earned a really expensive PhD on WHAT NOT TO DO! In fact, my losses made me more determined than ever to figure this real estate investing thing.
You see, I realized that there were people making money in real estate all around me, and if they could do it, then so could I. My problem was, I was using the wrong strategy within the wrong market cycle. What I was missing was key pieces of information to clear up my misunderstandings and decrease risks. Determined to regain my losses, I focused my energy on learning and finding a mentor. A successful mentor in any industry, can help decrease your learning curve, but also help you avoid major pitfalls as well.
Thank goodness I was able to learn quickly because In 2015, www.JackieBuysHomes.com was launched and I because a full time real estate investor armed with the confidence and know how to sustain a profitable business. Today I teach other's how to do the same. I call it, paying it forward. Teaching lessons learned and how to avoid costly mistakes. If you're truly ready to generate wealth with real estate without creating another job for yourself, then you need to schedule a strategy call with Jackie at www.TheJackieJackson.com Hopefully this article does't scare you too much, after all, I'm still happily investing!
Never be afraid to fail forward. There are major advantages in learning what not to do. Morale of the story...to invest in real estate with little risk means getting a mentor and the proper training. Hope you enjoyed the article, talk to you soon.
To Your Continued Success,
The Jackie Jackson, Real Estate Coach
Jackie Jackson is a Real Estate & Business Coach to Entrepreneurs. She Teaches her clients How To Cash Flow Their Lives With Real Estate.