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Updated about 8 years ago, 11/30/2016

User Stats

46
Posts
16
Votes
Travis Darden
  • Rental Property Investor
  • Indianapolis, IN
16
Votes |
46
Posts

Hustled by a friend and I blame MYSELF!

Travis Darden
  • Rental Property Investor
  • Indianapolis, IN
Posted

Allow me to reintroduce myself, my name is Travis and I'm a recovering procrastinator. Which, procrastination seems to be a disease I've been fighting forever. I live in Indianapolis, moved here from the Northern VA area (DMV) a little over a year ago. Reaching out for advice from you professionals out here in BP Land. A few months ago, I connected with an old colleague of mine that I trusted. He's been wholesaling successfully for about two years now (maybe more) and now has a coaching business. I KNOW the guy or thought I did and trusted that he could help me get started in the business. I've been reading and studying REI for about a year or so now (procrastination or paralysis by analysis). Anyway, to make a long story short, I connected with this former friend and he told me he could help me for a low cost of $2,500 ($500 discount) for his starter program. It looked good. He's in the business full time, making a living and has really overcome some challenges that were pretty admirable. I've heard Josh and Brandon say so many times NOT to pay for programs like this but I did it anyway, thinking I could trust a friend that is in the business. Going against what I've been learning on the BP Podcast and on this website, I sent this friend $2,500 via PayPal to get my business going. And boy do I regret that. It started off with a couple of calls from him, video calls and how to get yellow letters out there. He got me some leads in my area that got me quite a few phone calls and inquiries. What I didn't realize is that wholesaling is a JOB and I already have one of those that I work 50 hours a week. So I made some connections with potential sellers, lots of low ball haggling and some not so nice folks on the other end of the virtual line. It felt dirty. So I just stopped. My day job is already pretty demanding and on top of that, I'm married and father of four small children. My time is already limited. I do have a nice home that we were living in in NOVA and is now renting out. Own a nice home here in Indy too. Basically the mortgage is getting paid in NOVA and I'm clearing about $75 a month after I pay the mortgage on it, along with the home warranty I have on it just in case something breaks. I have a handyman back there that takes care of anything for me, luckily the house is only 10 years old. I have EXCELLENT tenants that has just renewed the lease for another year. I realize now what I really wanted to do was be an investor, not exactly a wholesaler... But I get that you kind of have to do both to get some properties under your belt. I'm regrouping now with plans to buy multi-families in Indianapolis as the housing prices are really good here in comparing to where we moved from. I have about $125K of equity in the house in NOVA and I was looking to use it to get started here in Indy. I have a realtor that's been sending me multi's but I'm quickly realizing that this is not her expertise... I've licked my wounds and ready to get back in the game. Any advice?

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