I do not typically talk too much about my successes, but what I do love to share is my failures because within failures are so many lessons to be learned. I want to share one MAJOR failure that I had on an investment and ended up with so much to be thankful for from what I learned.
In 2018 I purchased a single-family house to fix and flip on a lake in Texas. Three weeks following the completion of the construction and putting the property back on the market to sell, the structural dam on the lake collapsed nearly draining all the chain of lakes that connect. That was just the beginning of many issues for these lakes which inevitably put a halt to all the housing market that is directly tied to these lakes. Throughout this process I held the property for two years going on and off the market, I had spent well into 6 figures of my own capital to keep it afloat, I had an unknowingly amount of my own time into it, and then I was finally able to sell the property in 2020.
Overall, I learned more than I could ever imagine. I made a promise to myself in this project that I would do whatever it took to get the property sold and make sure I did not let the bank take it back as a foreclosure, and that is exactly what I did. The most important lesson over all that I learned was the mindset of setting a goal and sticking to it. Since then, I have taken that same mindset to my real estate investing business to structure it exactly with the steps moving forward. Within the past year, I have been able to double the profits that I lost from that lake project, tripled the amount of marketing and deals in my land investing, have begun growing my team and expanding my long-term investments.
The message I ultimately want to get across to anyone that feels like they may be stuck or in a slump is that no matter what you are doing, whether it be in business or life, just remember to keep your head up. Set goals and steps to work your a** off toward those goals, and most importantly, just keep moving forward! Trust the process in what you are doing today to shape your future and then do NOT ever stop learning and improving to be better than you were yesterday.
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