Short advice video by Chris Larsen ("Consider This When Starting Out"). The speaker advises beginners in deal-making to start with sensible, non‑speculative deals for their first transaction to learn the process, then progressively take on more creative and complex projects (e.g., rehab work) in subsequent deals.
I understand that for your very first deal, there's no need to be super greedy and a crazy home run. I think when you're first getting started, just get started. Buy a deal that makes sense because there's so much to learn through that process. And then once you're the first deal, maybe the second deal, you can get a little bit more creative and then a little bit more fancy, a little bit more rehab work needs to be done, so take it step by step.
