Wednesday, September 23, 2009

I Used To Invest in Foreclosures, Now Business is MUCH Simpler!

At the ripe old Age of 23 I made my first offer on a piece of property. I had officially thrown my hat in the ring to Invest in Foreclosures. I'll never forget the weeks leading up to this day. I had the highest hopes and everything I had been reading was telling me how terrific my life was going to be and how simple it was to make BIG money! Then it offer got accepted!

You wanna talk about emotional overload. I'll never forget it, I was literally in my backyard tossing a Frisbee with my roommates when my Realtor called. I thought I'd be tossing a Frisbee and making money hand over fist for the rest of my life! Then the second wave of emotions and thoughts came. How am I going to actually buy this house? Who can I flip my contract and make money? Why did my offer get accepted so quickly? Needless to say I put the Frisbee down and got in my car to go see my "Deal."

Keep in mind, I was getting in the business of selling my contracts. Or better known as "wholesaling" in the Real Estate Investing circles. This simply means I find deals, structure the buying end, put them under contract and "assign" my contract for an assignment fee. Beautiful in principle, however, sometimes horrible in Reality.

To make a long, stressful, uneducated story short; I had overpaid on the property and no investor in their right mind would buy my "Deal." After weeks of unbearable stress and anxiety I was blessed. Fortunately for me, there was a Title issue and I had the option of getting my deposit back and not closing on the property. This sort of business model went on for years until I had enough money to actually buy property and Invest in Foreclosures.

Any stress and not knowing how it was going to turn out was only magnified when I began to push my chips in. Now there were contractors, painters, unexpected expenses...EVERY TIME!! Not to mention the major flaw in the entire business model..I WAS ONLY AS GOOD AS MY LAST DEAL!! If I didn't keep doing deals I didn't make any money. I had gotten into this business to set myself free of real work. Now I had found myself married to the business 24/7. No vacations, long weekends, etc. Something had to change. Unfortunately that change came for me in the way of a Real Estate collapse. In hindsight it's the best thing that has happened to me and my business.

Now I understand the value of Leverage. Both time and money. You see, without one you can't have the other. If you truly want to LIVE this life, you have to be able to Leverage both. I became a Master at Marketing and understood the beauty of the Direct Sales business model. Insane amounts of profitability and time freedom to be able to actually LIVE life. No longer do I worry about whether or not a Contractor is going to show up, if there are going to be $10k worth of foundation problems that just "appeared." Oh no! Now I simply go through my daily tasks that keep my business and opportunity in front of people who are looking for it. How crazy is that!?! My business life went from stressful and uncertainty to stress free and predictable profits! Now I can get used to this.

So, I thought I'd shed a little light on what it's really like to Invest in Foreclosures. You really want to build a profitable business that will give you your life back? If so, I'd love to show you the ropes and work with you. I hope this helps you on your Journey. Until next time, Happy Marketing!

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