All Forum Posts by: David Lund

Quote from @Nate Sanow:

I embrace them.  Running towards problems, and not from them.  I don't want the problem, but I won't fear it.  The real wealth of this business is in problem solving, and the quitters of this business usually do it when the problems seem too hard.  

Million dollar answer.  Literally. 
The creative answers to the problems you encounter is the difference between accepting what's obvious (and usually bad), and coming up with a better answer.  It's these problems that get me up in the morning.  I love them, because to me they are not problems, they're opportunities. Bring 'em on.

Wake up everyday and work like it is impossible to fail.  There is a strong correlation with mindset and vision to become reality.  

Once again, what do you mean by "adversities"?

We would need clarification as to what you mean by "adversity." 

If you mean challenges, I love it. If it was so easy, everyone would be doing it and that's a different challenge in itself. 

I was in big trouble with my second house hack. The remodel was taking too long, went over budget, and all while I was also planning a wedding. Needless to day, it was a rough time.

I was listening to the BP podcast and Brandon Turner said, "Real Estate is very forgiving." That stuck with me. It reminded me that even through its challenges, in the long run it generally works itself out. Fast forward to today, our tenants in our studio ADU are paying almost the same as our portion of the PITI and we are in the 3 bed house. In about a year, if we move out, we will net $1,900/month on our hard costs. All because we stuck it out, got creative and made it work.

Plus each time a challenge arises, we learn from it and makes us better people and investors. I get to tell my story so others can learn from it.

As @Scott E. explains so well, there will always be adversity. Whether it's a shifting market or a contractor that doesn't show up on time to the house. 

I guess I don't have a "strategy". It's more like a mindset. I tell my team all the time "I don't care about the backstory, just solve the problem and then move forward."

Here's how I like to think about it...

There's no such thing as emergency real estate. Unless one of my houses burns down or someone dies, don't bother me on the weekend. It can wait until Monday.

In my experience, small amounts of adversity are constantly happening when you're a real estate investor or a real estate developer. And every once in a while, even if you think you're doing everything right, you get slammed with a really ugly set of circumstances.

Years ago these challenges affected me a lot more than they do today. I don't think I've become numb to adversity, but I've just become used to it I suppose. And every time I face it again I subconsciously know "this too shall pass"

Raise over $20M from my personal contacts and close on over $200M of commercial real estate with my team. We specifically target cash-flowing RV Resorts.

We are hosting a live webinar this Thursday at 7PM EST specifically talking about goal setting to make 2023 your Best Year Ever! Seats are limited but there is still time to register. DM me if you would like the link. I would post it here but then this post would probably get deleted.

Quote from @David Lund:

Quote from @John Morgan:

To stop buying rentals. Lol. I keep telling myself I’m done

 What's your reasoning with wanting to stop? Too many or something else?

I’m at 17 which is more than enough. My wife keeps telling me to stop buying them. But the monthly cash flow builds up quick and it’s fun to go out and get another with 20% down. Or do another cash out refi on one with equity to go buy a few more. But at what point is enough, enough? It’s a fun hobby for me that’s easy and fun to do. So we’ll see. But I told her I’m done after closing on our next one dec 19.