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Updated over 11 years ago,
Exhausted-need some career direction advise!
I work for a couple investors. They brought be on to dig up deals for them. For every deal I bring to the table, I make 20% of the profits. Most of the time they will close on the deal and then sell it to someone else, occasionally they will rehab and sell it.
The trick is, I can't really do advertising or direct mail. I can send a limited number of letters, tops around 500-600 on month.
This means that I either drive for dollars (which is really expensive since I have an SUV) and call the owners of houses I find or pull lists from the tax records, look up each person's phone number individually, and call down the list. They really prefer calling people rather than sending letters.
I've been doing this for 6 months and have brought in 4 deals. They are telling me I should be doing at least a few a month.
At this point I'm getting pretty exhausted from it. The days I make calls I get told to "f*ck off" AT LEAST once. There are only so many days you can wake up and not hate your life as you willingly and continuously call people just to get b*tched at.
Driving for dollars is way more fun but I end up contacting only around 20 people a day tops and spend a ton of money doing it so it doesn't really pay out.
Am I doing the right thing working with these guys? I've learned a ton from them. They have shown me how to talk to sellers, how to analyze deals, etc. Should I just go off on my own now and do things my way and make more than 20% per deal? At this point I have no savings so I would have to get a job while I do this on the side and then leave once I have done enough deals.
*another note: they put me on a commission draw and I owe them around $3000 now. I have a deal closing at the end of the month though. Hopefully that could even it out a little :-/