I just had another investor lose a great REI deal last week. For the sake of privacy, we’ll call her Sheila.
Sheila’s mistake was one of many tiny deal-killing mistakes that even experienced investors can make without the right “heads-up.”
Sheila is an actual REI out there pounding the pavement just like you, and just one little real estate investing tip could have saved:
- 1. Her deal
- 2. The $10,000 she lost on the deal, and
- 3. The $30,000 profit she would have made on the deal
The Unfortunate Case of “Sheila X”
First of all, Sheila did a lot of things right, starting with finding an amazing deal.
$30,000 profit after rehab costs and all the other expenses is nothing to shake a stick at (I promise, these kinds of deals really do exist).
By the time she came to DoHardMoney to fund her deal, she already had her property under contract. Kudos to Sheila. This allowed us to approve her loan very quickly after our standard, third-party evaluation of the property.
As a new investor, she also had the good sense to invest in some REI coaching before she got started. Unfortunately, the non-refundable program that she paid for wasn’t my program …
All of us at DoHardMoney were pumped for Sheila’s deal.
Sheila’s Little (Big) Mistake
When Sheila applied for her loan with us, she also signed up for my real estate coaching program. I was impressed that she was still hungry to learn more even after she had completed another (and much more expensive) course with another company.
Tragically, because Sheila already had her property under contract, she didn’t have the time to take my course before setting her deal in motion.
My program would have taught her the one tip she needed to save her deal.
Taking advice she got from someone else, Sheila wrote her contract as a “Cash” offer. Because she was planning to get a loan to fund her deal, she should have written her offer as a “financing,” “private financing,” or “hard money” offer.
I’ve actually posted more than once about how to avoid this exact mistake — such as in this post — trying to save REIs from this pitfall.
It seems like every time I think I’ve shared this one enough, another case like Sheila’s comes along and proves me wrong.
Please, Please, PLEASE stop writing your offers as “Cash” offers!
Who Needs REI Coaching, Anyway?
This is a question I get almost every day: “Why do I need to sign up for your coaching program, Ryan?”
The are a million answers to this question, but they all funnel into one big answer — insurance.
My tip about writing offers correctly is just one tip out of hundreds contained in over 200 total hours of video and audio training in my program.
No matter what your level of experience in REI, the chances that something in my course will save even just one of your deals is extremely high.
I’ve even made the cost of my already-low-cost program completely refundable when you finance your first deal with us.
That’s the same as free. I just don’t know how to make it more appealing than that.
Let Me Help You Save Your Deals
The other side of that answer is that you don’t absolutely have to get real estate coaching to become a successful investor. There, I said it.
But that decision to wing it comes with significant risks.
You’ll go through the school of hard knocks with trial-and-error learning and, if you’re really lucky, you’ll come out ahead. But even in this unlikely scenario, chances are that your learning experience will cost you thousands of dollars along the way (It did for me).
I built my coaching program for REIs who want to avoid all of that.
I charge a small, completely refundable fee to join simply because I’ve found that it motivates investors to act on their newly-gained knowledge faster. I don’t even make a profit on the program.
You can read more details about the program by clicking the button below.
If it looks like the right fit for you, I look forward to helping you find great deals and avoid all those sneaky deal-killers.
To Your Deal-Saving!