Cody warns real-estate investors against chasing the perfect deal. His first property, seller-financed with zero down, generated immediate cash flow but took three years before he could pay himself. Multiple modest properties build experience and compound returns faster than waiting for one unicorn deal.
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Hey YouTube, Cody here, and today we're talking about skipping that unicorn opportunity. Now I'm not saying if you go out and you find the best opportunity since sliced bread that you shouldn't go buy that, but I see a lot of people waiting on the sidelines looking for that one unicorn opportunity where they can go get it. It's going to get a ton of cash flow day one, ton of equity growth, not going to cost them a whole lot of money. There's not a whole lot of those out there. And yes, the main message of this channel is to go build relationships with people, learn how they got to where they're at, ask for a helping hand on how you could go get there yourself, and then let them help you get there. There's a lot of opportunities that come from that, and there's a lot of opportunities that will come just from putting yourself out there. But don't get caught waiting for the one perfect deal. My very first deal sounds perfect in theory. It cash flowed day one, zero money down, seller financed, borrowed the down payment from someone that to this day, that investor, I still haven't met. And I was able to go out and buy a piece of real estate that cash flowed, that went up in value, and that was great. But to this day, with the cash flow, I still have not paid myself 3 years later. I've reinvested the cash flow. And it wasn't a ton of cash flow in the beginning. It's gotten much better since day one, but it wasn't like it was just this magical home run. And a lot of people out there are trying to go jump into the real estate space and go get that home run where they could retire on the very first deal. And that's not feasible. Is it plausible? Is it possible? Sure. But it's not likely going to happen. So when you're getting out there, Instead of focusing on the number one unicorn deal that's just going to launch your career and you get to retire day one, focus on putting pieces on the board. Because the more pieces you have on the board, meaning the more real estate deals you've done, the more you can maneuver, the more creative you can get, the more you could cash flow, the more you can sell off to pay off one of them. And then maybe you do retire. There's a lot of options. But at the end of the day, if you're just focused on that number one unicorn deal, it may take you a lot longer to get started, and you may be farther back than had you just gone out, bought some deals that cash flowed, and started stacking your chips, started adding pieces to the board. Because it's hard to go broke if you keep increasing your cash flow above your expenses. If you're just sitting on the sidelines waiting for that magical deal, You're going to be sitting a long time while other people are adding chips, adding pieces to their game board. And then maybe you do find that one unicorn, but you're still farther behind than the people that were just consistently investing, buying opportunities that cash flowed, went up in value because they bought in great locations. And now your main goal of being able to retire was hindered by the fact that you weren't willing to go buy a deal that align with what you're looking to do at the cost of it not being absolutely perfect. So just want to share this with you guys, short video, little lesson of the day. Focus on adding pieces to your game board that fit what you're looking to do long term. Don't just focus on buying the number one unicorn deal and go buy some real estate, make it happen. See you guys next time. Like, comment, subscribe if you haven't already. And as always, let us know in the comment section below if you want to see any future videos or questions on Whiteboard Wednesday.
