Of all the surprises I encountered as a new investor, one of the biggest “shockers” was the fact that it was WAY easier for me to buy properties for cheap than it was for me to sell them fast.
Most investors can probably relate to this problem on some level. If you do more than a few transactions per year, it’s only a matter of time until you get a property under contract that just won’t freaking sell.
I KNOW THE FRUSTRATION
When I started my real estate investing career, I had a lot of things going against me…
– It was late-2008, which was closely followed by 4 solid years of a major recession along with some TERRIBLE selling conditions.
– My primary focus was on vacant land – which (in most cases) has a significantly smaller pool of buyers than almost any other type of real estate.
– All of my properties were located in Michigan, which at the time was the #1 hardest-hit state by the recession.
– I wasn’t a licensed real estate agent (and I’m still not, btw), which limited my access to the largest pool of buyers (aka – the Mainstream MLS Machine).
– I frankly wasn’t born with the gift of salesmanship. It wasn’t easy for me to “put myself out there” and drum up new business.
Believe me when I tell you, I’ve dealt with my fair share of properties that were difficult to sell. I know from experience that it is a very helpless and discouraging feeling to be “stuck” with a property that nobody seems to want. When you pour a lot of time and money into the deal that nobody seems to care about – it can really create some mental setbacks for an investor… to the point where you find yourself questioning everything.
As you can imagine, it makes for a pretty miserable experience and this is not a place I want you to be.
1 comment
Give it away like Luke does. Free land Mondays.