By 
Today we will be talking about my first Real Estate Deal.
- It was sometime in 2011
- I had been sending out postcards but wasn’t getting responses
- Came across a condo in South Nashville that a guy had inherited from his mother.
- This condo was a complete mess btw
- I spoke with the guy and I talked him down from 33k to 13k. He said he had to think it over.
- The next day I called him only to discover that he had sold the condo to another investor.
- When you search for a mentor one will appear.
- I got him to tell me the name of the investor who had bought the house
- A few weeks later I ran into this investor at a local rei meeting.
- I wasn’t made because e had gotten the deal fair and square.
- I introduced myself and got this investors number
- We spoke over the phone a couple of time and he invited me to his office.
- I noticed that his phone rang off the hook the whole time I was there.
I then thought to myself that my phone probably hadn’t rung all week, and that is when I made a commitment to get my phone to ring non-stop and that I wasn’t going to stop until I got a deal
- I sent out 100 postcards every week $50 worth because I got paid weekly back then.
- And I wasn’t going to stop end them out until I got a deal
- About a month later a guy calls me and says he had a house in East Nashville that he wanted to sell
- I went over and saw that the house had a big hole in the side
This guy wanted 30k but after a few back and forths I got him down to 10k
I got it under contract at 10k
Marketed it but no one was serious about buying it.
Was able to get my friend who I met at REI meeting to buy it from me
Made $750. It wasn’t a lot but showed me several lessons.
- Lesson 1: you have to get to know your buyers and be on a first-name basis with them
- Lesson 2: Work with people and not compete
- Lesson 3: You have got to commit to something until you win
I have since then gone on wholesale tons of properties all over Middle Tennessee and have worked with numerous investors.
