Isaac PakParticipantSeptember 11, 2018 at 7:17 pmPost count: 10
It’s been a few months since I started following the program and I just finished my first deal.
So I sent out a 1000 unit mailer and got one person who wanted to sell (only one because I messed up on my offer price). The deal was $1200 for a 5 acre property in San Bernardino County, CA. I bought it and sold it for $3500 immediately.
I made mistakes in almost every step of the deal…Made mistakes with my mailer, made mistakes with my offer price so I got yelled at quite a bit, had awkward phone calls, got the deed written wrong, screwed up recording the property with the county, spent way to much time with bad deals…so I learned a ton. I think my learning curve was big because I knew nothing about real estate until very recently. Because of that, it took a bit more time than I expected but I got it done and my next deal will be so much easier and faster.
The thing that I surprisingly loved was working with the data. At first, I thought excel spreadsheets were gonna suck, but I really enjoyed organizing it once I got the hang of it. I think it’s hilarious because I never thought I’d be the kind of person who’d enjoy handling data.
This is fun. I am really looking forward to my progress from now on.
thanks Steve and JillKevin FarrellModeratorSeptember 12, 2018 at 3:35 amPost count: 715
Isaac – Thanks for posting your experiences here. We make mistakes and we learn as we stumble forward. You are absolutely right! The next deals will be easier for you.Neil HParticipantSeptember 12, 2018 at 4:07 amPost count: 70
Thank you for sharing, Issac. My favorite quotes in starting a business are “Fail fast” and “Fail forward”. And the best thing is, even with some of your setbacks you still bought and sold your first property quickly and at a very respectable markup. Nice work.Darald Berger (@AggieLand)ParticipantSeptember 12, 2018 at 8:00 amPost count: 156Isaac PakParticipantSeptember 12, 2018 at 8:48 amPost count: 10
Thanks Kevin! I started out being scared to fail, but now I try to embrace the fear a bit more. It’s the only way forward.Isaac PakParticipantSeptember 12, 2018 at 8:50 amPost count: 10
Hi Neil, I agree it’s pretty awesome that I got a good deal even when I made a lot of mistakes. Thanks for the encouragement!Isaac PakParticipantSeptember 12, 2018 at 9:14 amPost count: 10
Thanks Darald! I’m actually quitting my day-job by the end of November. Not because I’m financially ready, but because some friends of mine are supporting me and giving me a place to stay for really cheap rent. Also, I have a couple of job offers from people I know in case I need them. It’s a low-risk move in my opinion. I’m probably being impatient, but I feel like this is the right thing to do.Darald Berger (@AggieLand)ParticipantSeptember 12, 2018 at 11:47 amPost count: 156Travis KellerParticipantSeptember 12, 2018 at 12:25 pmPost count: 27MilanParticipantSeptember 12, 2018 at 2:03 pmPost count: 453
Great job Isaac! Sometimes you have to muscle that first one through. Keep swinging. And remember, Babe Ruth was not only the home run king, he was also the strikeout king! Keep swinging Isaac!Isaac PakParticipantSeptember 13, 2018 at 7:53 pmPost count: 10
Thanks for all the encouragement and advice everybody. One thing everyone here has said so far is that failures and mistakes are great because you can learn a lot from them if you just push through them. Not only do you learn a lot, but there’s a lot of personal development that happens by going in the fire and overcoming these difficulties. That’s something I see a lot of value in, so I will push myself more and more. and yolo indeed @aggieland
My 2nd mailer is hitting right now and the calls are starting to come in. The offer price is right this time haha. wish me luck and I wish everyone the best as well!
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