What are some of the challenges you ran into when making your first deal?
I am still in the process of getting our house ready for the market. It is slow going, we have replaced the front and back deck and repainted the kitchen and den. We are replacing the front and back doors and storm doors and will replace the garage door. Then it’s on with the flooring and painting.
The property assessments in our area have doubled, which is good if you are selling but not so good if you want to buy.
Watch the ads,
I think one of the biggest challanges starting out is removing the emotion when you are buying. If your anxious to get moving on your first rehab project it’s hard not to want to go back and forth with counter-offers and counter-counter-offers. Do your numbers and don’t go over what you decide you should pay … easier said than done.
I agree with Tom. This industry has so many “barriers” one must permeate in order to be successful, such as fear, knowledge, financing, and time. These are what stop 95% of most wannabe investors. If you manage to overcome (or, at least, control) those, you’ll be the 5% (or less) that are successful.