Everybody online with real estate seems to talk about the really good deals when they made a bunch of money. But what happens when deals go bad when you actually lose money? I've had this happen to me and I've recently had a couple of coaching conversations one-on-one with some folks who are losing money on deals. And they kind of came to me with this situation, like, what do I do now? It's almost shell-shocked. Like, you know, just I've been hit by this unexpected thing. In one case, a couple had a property they were going to fix up and they were long distance. And it was pretty tight budget as it was. But they had a contractor who they paid money to up front and basically just walked away with like 15 or 20 grand. And so they didn't get any work done, the contractor took the money, and then they still had to fix the property up or

decide what to do with it. So they were upside down. They were going to lose money on this deal. Another property was another fixer upper. And this person had a budget of about $150,000 as a major fixer uper up on an old property. And they got in to inspect the property with the city to pull

permits and the city basically said these two things the roof is about to fall in the case has been

like patched over it just needs to be cut off and started over because all these issues that are

structural are going to be a danger same with the foundation there was some issues like that so very

upside down instead of a hundred fifty thousand dollar remodel it was going to be at least double that, maybe $300,000, $350,000. And so it's very much a negative situation. How do you deal with either smaller versions of that or some of these really bad situations in real estate? Can you get out of them? What do you do? I want to share a couple of thoughts with you on that.

You know, when things go bad, when it's hard, when you're losing, it's very natural, it's very human to freak out a little bit, maybe to have some panic. So if that happens to you, if you're in the middle of that right now, just know that's normal. But after that wave, that initial wave subsides when it goes away, these three ideas might help you a little bit.

At least they've helped me when you finally get you. normal, but after that wave, that initial wave subsides when it goes away, these three ideas

might help you a little bit. At least they've helped me when you finally get back to your

thoughts and you can figure out how am I going to deal with this? And the first, first advice is to

accept it. The second is to be proactive. The third is to lick your wounds and learn. Let me unpack

each one of these a little bit. One of the hardest things when you have a tough deal, when things have gone bad, is it's easy to live in the past. It's easy to remember that decision you made when, you know, these two examples I gave you, you know, if I would have only, you know, done a contractor, not given all the money to that contractor, then I wouldn't have lost money. It's easy to

ruminate on that over and over again. That's a good lesson, right? We're going to talk about that

and number three. It's good to learn a lesson. Or on the other deal, it might be easy to say, I wish I

would have inspected that more thoroughly. I wish I had looked at the fine print. You know,

I wouldn't have missed those zoning or those issues with the roof or with the foundation.

You know, those are true statements, but they're also in the past.

And some of the wisest people that I try to study, I'm not saying I'm like this all the time,

make a big emphasis on accepting what's going on.

Like once that initial rush goes over, if you can get clear headed,

maybe even get, I like to write things down, write down on a piece of paper, what are the facts,

what's happening right now, so that you can move on to this next step that I'm going to talk

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