Struggles Of A Beginner Real Estate Investor...
Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based
Wealthy Investor - Real Estate Investing, Real estate, Build Wealth, Faith Based
2.5 • 884 Ratings
🗓️ 9 May 2023
⏱️ 9 minutes
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| 0:00.0 | Let's talk about some struggles because everyone talks about you know how they're crushing it so |
| 0:05.2 | I'll tell you some struggles that I went through starting off and then you guys could share |
| 0:08.9 | so when I first started right didn't have a lot of capital. So I probably had, let's just say, like 100K, 100K. |
| 0:16.9 | But 100K in real estate is not going to get you super far. |
| 0:20.3 | As we've learned. |
| 0:21.1 | Yeah, you've learned. |
| 0:22.0 | You think six figures is a lot until you buy two houses and then you're like, |
| 0:25.7 | damn, I need more money. So I bought probably six houses, but I was only really counting the down payment. I wasn't like fully |
| 0:38.2 | understanding how much money I needed for the renovations and the holding |
| 0:42.2 | costs. I thought I was going to be able to sell them a lot faster than I did. |
| 0:46.0 | So there was times where literally I had like six flips and I had like 10K in the bank and I had to like not pay my contractors because I was like dude I just can't pay like I have to wait because if I pay you and they you know try to take money out of my bank account I'm gonna file bankruptcy |
| 1:05.3 | so I would have projects paused I would be like calling my current escrows like |
| 1:11.2 | are you guys good come on please close like what the |
| 1:15.0 | hell you need an extension oh my god like I'm literally I would wake up at the |
| 1:19.6 | middle of the night and then look at my bank account and be like damn and then like literally that's how it was my first |
| 1:27.5 | year and a half like just super tight on money super stressed out like I didn't raise money. I would partner with people so I would |
| 1:36.5 | be like, all right, you put up the money and we'll partner but I never like got money from |
| 1:40.6 | someone else and then did the transaction myself. |
| 1:43.9 | Luckily the people that I partnered with, they had crews, they had experience. |
| 1:48.0 | So it took a lot of the stress and worry off of me because I had no money plus I'm working with someone more |
| 1:53.8 | experience but yeah that was like my first year of like flipping houses right |
| 1:59.2 | there. It sounds like our experience. Is it? |
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