A real estate investor argues you must secure profit at purchase, not the sale. He undercuts deals by first asking how you could lose money, then avoids emotional mistakes like overpaying or cutting rehab budgets. His system has never taken a loss.
One of the things I want to talk to you about today is I want to make sure you don't lose money on your next deal. What you have to understand is profit is made on the purchase. Most people will go in and underwrite a deal thinking, how do I make this work? In order to ensure profit and success, you got to go in underwriting a deal on how am I going to lose money? What can go wrong? Analyze every potential risk, and when you're said and done, if there's still light at the end of the tunnel, then you move forward. I see so many people who go into deals so desperate to do deals that they convince themselves, "Hey, I can pay a little more money for this to get the deal. I'm going to cut back on the rehab so I make the the numbers work until they don't. So many times as a hard money lender, we have bailed so many people out. As a real estate investor, we've never lost money because we remove the emotion. You have to make the profit on the purchase. Click the link below, check out my books, my training, my courses, and let's make you a wealthy real estate investor.
