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Updated almost 6 years ago on . Most recent reply

User Stats

127
Posts
23
Votes
Trevor S Foster
  • Gaithersburg, MD
23
Votes |
127
Posts

Stuck in the middle of breaking down or breakthrough, need advice

Trevor S Foster
  • Gaithersburg, MD
Posted

Hello Bigger Pockets,

I will start this off by saying biggerpockets has given me 80% or more of the knowledge I've obtained about real estate investing. I've listened to almost every podcast, read multiple articles/books, attended the webinars and much more. I originally started in mid 2017 learning about real estate investing, for my LLC "DMV Real Property Group" in Aug.2017, I completed 1 wholesale transaction in Nov. 2017 & two wholesale deals in March/June of 2018. Those wholesale deals were successfully flipped for the target profit mark of the investors that bought the contracts.

Wholesaling has been my "one thing" that I've focused on within real estate BUT I've learned and fully comprehend the "Buy and Hold", "Fix and Flip" aspects of real estate also. I choose wholesaling because my way of thinking is that if I can produce the properties ,then I'll be able to hand pick which properties I'd like to Hold, Flip or Wholesale in the future.

Since my last wholesale deal (June 2018) I've seen a drastic decrease in lead funnel, which has lead to no deals what so ever. I've constantly used direct mail campaigns, cold calling via a freelancer on upwork (cold calling myself also), driving for dollars, door hangers and social media marketing. It just hasn't produce the amount of leads monthly that I'm used to seeing. The leads that have come in unfortunately had no potential.

My question to biggerpockets is, should I start to move into another aspect of investing? 

Maybe fix and flip or buy and hold? I already have a target area in pennsylvania for low cost buy & hold property that I'm very familiar with and certain parts of the DC, MD, VA areas for flips. My only concern is of course finding funding to make these two options possible.

Or should I just stick with Plan A until the break-through happens for me?

I've tried in the past to get funding for flips & rentals BUT to be perfectly honest my credit isn't great & the companies I've spoke with regarding money say I need more experience flipping because they cant judge me based off the successful wholesale deals I've produced. 

By no means am I looking for a "handout" or to quit, I made up my mind from day one that I will either sink or swim in real estate. Although I've done a few deals I still consider myself "new" and I'm writing this post looking for some guidance from anyone who took the time to read this "essay" lol..sorry I typed so much but this is the only place I can come to, to express all the feelings & thoughts I have built up inside & everyone reading can relate or understand how I'm feeling. 

Thank you for taking the time to read everything I wrote, this was kind of like therapy being able to get all of these thoughts out of my head.

Advice, Opinions and Constructive Criticism is welcome.

Trevor Foster II

DMV Real Property Group

Most Popular Reply

User Stats

7,695
Posts
7,859
Votes
Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
7,859
Votes |
7,695
Posts
Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied

@Trevor S Foster how many leads did it take to get 3 deals? I think you’re realizing why wholesaling is so difficult to do long term. I’d look into other avenues

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