OfflineSo I've been working with this investor who I misunderstood initially as having a lot of money, and since he also works in construction I thought I'd make an agreement to give him first look at every private/MLS deal I found if he would come by and tell me what the cost of the repair would be. As it turned out, the loan terms he qualified for were only 14% interest (including rehab & holding, with no money down). Now, the deal is still in negotiation, but needless to say there is a fair portion more for me if I give it to a buyer who can qualify for a better loan. I like this guy a lot, and he told me - after I had explained this to him - that it was arrogant to presume making as much as he would in the deal, which I began to feel like he thought belonged to him. Anyhow, I also tried to get in with his friend, who is a Realtor, to start doing the 25:1, since it never got off the ground with the last person I was working with. He told me he would call me back several times, and it was only upon having a nearly virulent conversation with him today that I discovered his true feelings were that I was wasting his time and that because I am just begun in this business, I had nothing at all to bring to the table. Anyhow, he made it very clear that I was worthless to him, mistook my actual congratulations for a deal he had found - doing what I would be doing - for sarcasm, and told me to stop calling. Afterwards, I left him an apologetic message for the exchange, even though his unwillingness to confront and explain his unwillingness to work with me in actuality amounted to wasted time on my end. In short, I'm depressed, and need some of the DG Family to help lift my spirits. I've still got that first deal in the works, so I'm not giving up - but on the Realtor front, and just as a beginner, I'm feeling a little shook up.
Ryan Hart
Ryan,
Let’s 1st establish that you are valued, and that you are going to do great! As for the realtor and such, let’s suffice it to say that people are and always will be resistant to ideas they don’t fully understand. Frequently, this resistance manifests itself in a negative manner, and the attempt to belittle the other person. Don’t let it get to you. It’s hard to not allow the words of others to impact us, but we need to stay focused on our goals and not allow ourselves to be detoured by those who don’t understand. I’m reminded of an old saying that the best revenge is success, so be successful.
You will continue to encounter people who will not always be positive, and lack the desire to help us with our business. They are to be ignored and taken with a grain of salt. You do and will bring a lot to the table, know that about yourself and don’t be discouraged, be successful.
I’m sorry that happened, but it’s a lesson learned. Onward and upward! And remember, you'll do great!
Sometimes the most important thing is to hear somebody else say what you already know. Thanks for being that person.
Ryan
Just realize that even though you become an experienced investor, some people will always want to knock you, and yet there are others who will help. If probably won't be the last time. You are going to have to have a little thicker skin. Of course it hurts, and some of us get hurt more easily, but try like coach said and realize they may have had an off day, or just didn't understand, and you took the brunt of it. Just let it go and move on. Sounds like you are bright enough and adventureous enough to make it in REI. Best wishes!!
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Find me some good wholesale deals in the Denver area. You can make money in the next 10 days if you can provide the deals. I can't keep pace with the demand from my REAL cash buyers.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I say cut ties with that realtor for sure, and maybe even that contractor. I am just beginning myself, but I have found that a good place to get positive vibes and network with people that understand you, besides DG's family, are REI club meetings. Find them in your area and network with those people. I try to go to a few a month. You can meet lots of people there, and when you talk about what you do, most will be doing similar things, so they will not be negative towards you. You may find a great contractor and RE agent to work with. Most people at those meetings should be investor friendly. You may even find some people to do joint ventures with.
I really enjoy the meetings. Hope you will too, and hope you can get some awesome connections from them.
I used to sell photo coupons at department stores for $5.25. I would get to keep $1.25 of every coupon and the company WOULD keep the rest, AND they made all the cash from the actual portraits. The amount of no's I got on a daily basis for an 8 hour shift must've been astronomical. I felt like crying everyday and I'm not ashamed to say it. I felt like a loser and a nobody for months. I learned to operate on a "I don't care basis". You must dig deep and compose yourself. You have what it takes, otherwise you wouldn't be calling realtors and construction workers and trying to change your life. Dean once said "don't worry or stress about the things you can't change". What you CAN change is your realtor, your construction guy and whatever else that's hurting your forward progress. I've been trying to get a deal going and I know I will get a deal going no matter how long it takes, I'm in it for the long haul and I will not care about the no"s, I can shake those off. I only care about the YES. And all it takes is one Yes and I'm off to the races (to the bank). God's blessings and good luck.
NEVER SAY DIE!