Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 6 months ago on . Most recent reply

User Stats

174
Posts
74
Votes
Jeremy Beland
  • Real Estate Coach
  • Derry, NH
74
Votes |
174
Posts

The house that taught me a $40,000 lesson in 2019...

Jeremy Beland
  • Real Estate Coach
  • Derry, NH
Posted

It was a nightmare which only made me $4k.

After securing the deal, the buyer made my wife and I go through three-feet deep of snow to "winterize" the house so there wouldn't be any plumbing issues.

It was a 2 hour drive there, and a 2 hour drive back.

So much time and effort put into it for only $4k...

The person I sold it to made $40k weeks later doing nothing to the property but listing it on the MLS.

All because he had more leverage.

He knew I was in a tight situation financially and took advantage of me.

He turned me into a motivated seller.

As painful as this lesson was, it made me make major operational changes.

As well as it forced me to have a mindset change too.

A much needed one!

I no longer work from a place of scarcity.

I set myself up for success and work from a place of abundance.

I have built my cash buyer list to close to 5,000 buyers, invested into a coaching program for private lending, and developed multiple exit strategies to be ready for any situation that presents itself.

It let's me earn $40k per deal consistently today and occasionally hit some $90k+ homeruns.

Embrace your mistakes, learn from them, and adapt.

This is the only way to grow.

Most Popular Reply

User Stats

4,908
Posts
13,015
Votes
Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,015
Votes |
4,908
Posts
Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

“The ability to attend to a task and stick to long-term goals is the greatest predictor of success, greater than academic achievement, extracurricular involvement, test scores, and IQ. Gritty students succeed, and failure strengthens grit like no other crucible.”

― Jessica Lahey

Loading replies...