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Updated over 3 years ago on . Most recent reply

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Dave Rosa
  • Investor
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11
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Tell me your story of how you started... Good or Bad...

Dave Rosa
  • Investor
Posted

Looking for investors to tell me their story of how they started.. Good or bad, how well or badly your 1st, 2nd, 3rd deal went. Real life scenarios create great teaching for newbies. 

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Allan Smith
  • Developer
  • Nashville, TN
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Allan Smith
  • Developer
  • Nashville, TN
Replied

First deal was a house hack -- low risk. Highly recommend it. of the 50 or so deals I've done, 2 were duds, and one lost money. The closest to a "home run" I've ever had was probably 9 units seller financed that cash flow like crazy. I also did a wholetail that made $37k with $5k and 2 weeks of work.

I get the sense that you are looking to get inspired to jump in and do a deal even though it's scary. What I hope you can learn from my story is that ya just gotta start swinging and get in the game. Almost everything I've done was just a basic base hit. No fantastic deals, just a bunch of ok ones. My favorite part about real estate is the long term benefits. Just hold rentals and watch your wealth compound. But there are also a lot of people who make well into six figures in RE without buying any rentals, so just find what works for you.

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