What if losing your very first deal isn't the end of your investing journey, but the push you need to win the next one?

And what if the perfect market you're searching for is the one that forces you to make a tough choice?

Travel to chase cash flow or settle for lower returns in your own backyard.

Today we're answering these questions and breaking down what every rookie needs to know

before signing up for their first Burr partnership contract.

This is the Real Estate Rookie Podcast. I'm Ashley Care. And I'm Tony J. Robinson. And with that,

let's get into today's first question. Our first question today comes from Jeremy. And he says, a few days ago, I lost my first real estate deal. The property

had offers from both investors and families who were going to reside in the property. The bank chose

the family over investors. I put in an application with RCN Capital for funding on the property.

I'm curious as to how someone gets close to 100% of the ARV for the rehab and all of the other costs.

Is that realistic?

RCS referred me to another harmony lender who also gave me the scoop that typically they only fund deals at either 90% of the value or 65% of the ARV, whichever is less.

To give some numbers on this deal, he's projecting the ARV to be $150,000, but that would leave

him with a pretty large gap for rehab, which is, he says, about $25,000 approximately.

So his question is, on my next deal, can you get some advice on how to approach this?

So, actually, there's really, I feel like two different questions baked into this one question, right?

There's one side where it's just questions about hard money lending and best practices there.

But the other part of his question and, like, the title was that he lost, quote unquote, lost a deal and how can he maybe be more competitive?

So let's maybe attack those two

things separately. I think the first thing that I call out is that he says that he lost the deal,

but he didn't really lose the deal. It's not like he had it under contract and like something

fell apart. He just got outbid by someone else, right? Well, Anna says the bank chose the family over the investors. So, like,

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