One hour meeting that changed my life

[Iris Dahan]

Real estate in the US wasn't on my radar.

This option didn't exist for me 2 months ago.

But a woman I met for one hour suggested me to invest in a property she was working on.

And here I am, 2 months later going to sign my first deal in the tough market of Huston.

I am concerned of getting into a business where I don't have connections and the mentality is different from what I am used to in my county (Israel).

Fortunately, I met a few wonderful professionals who were patient and generously willing to help.

And after submitting a few offers that were snatched by faster and more experienced investors,

I've got my first YES.

Now I'm in the game.

This is exciting!

The contract is not signed yet, but I hope it will soon.

I will be facing building a team and coordinating the contractor, inspector, work manager etc.

Hard work does not frighten me. I am a hard worker.

But all this is completely new to me.

It would be great to read how other investors did it, please share.

[Michael Dumler]

@Iris Dahan many questions need to be disclosed here. First, how do you know that the property you are about to go under contract on is indeed a deal? Which local experts have you networked with that can ensure the rent you plan to lease is accurate? Second, you're about to go under contract but don't have an inspector, contractor, or property manager already lined up? While these vendors can be sourced during the transaction, it's best advised that you first establish relationships before going pursuing a deal. Third, if you haven't spoken with a contractor, how are you aware of the rehab estimates? The rehab alone can kill a deal. Furthermore, can you trust the partner you're working with? Talking to her for only an hour does not sound reassuring. Not to kill your deal, but these are all important questions that need to be delved into. I don't want to point fingers, but a lot of shady individuals try to take advantage of folks out of the country. Hope this helps!