Two investors argue that breaking even on your first real estate deal is a win. They recommend cosmetic renovations like bathroom updates to keep risk low, and say $20,000 to $50,000 profit would be extraordinary in today's market. Real experience beats seminars and books.
we're going to at least break even, if not walk away with something, which is a huge win and a huge success for your first deal, is to walk away in the green, positive.
Well, and every person that I've coached and every person that we've mentored, I've always told them, if you can break even on your first deal, you win. Yeah. The education, the experience, the life experience— I don't care how many seminars you've been to, I don't care how many podcasts you've watched, I don't care how many books you've read. It does not match life experiences. And so when you can take on a project like this that is not going to be a heavy rehab to where it's cosmetic, like you said, you're going to have some good reconstruction in the bathrooms. But if you can not only break even but even make $20,000, $30,000, $40,000, $50,000, that is astronomical in this world, especially in today's economic situation, maybe 4 or 5 years ago, a while ago. Yeah, you were going to set up your LLC and all that. Yeah, said—
and you sat down and told me the exact same thing thing that you just said now is if you make money on your deal, you're doing fantastic. I mean, if you just break even, that's a win.
Yes.
Because there's so many investors that on their first couple deals, they don't make money.
