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Creating and Growing Real Estate Wealth: The Starting Line

Mar 21, 2008

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This chapter is from the book 

Creating and Growing Real Estate Wealth: The 4 Stages to a Lifetime of Success

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The Deal Search

Nearly all the deals that I’ve gone into have come from people who wanted more than just a commission for bringing me a deal. They wanted to be partners, architects, lawyers, or rental brokers in the project. If you treat others fairly, good deals are likely to be offered to you. But, getting the right help through building relationships and networks takes time. Work at it.

At some point, you have to pull the trigger and do your first deal. There’s no easy answer to the question, “When should I be willing to make a purchase?” Chances are, you won’t get it exactly right, or you’ll get it right for the wrong reason. If you’re lucky, however, a favorable market can make up for a lot of miscalculations.

Speaking personally, if I had known then what I know now, I would likely never have done many of my early deals—most of which turned out to be very profitable! As Mark Twain put it in his autobiography, “It is strange the way the ignorant and inexperienced so often and so undeservedly succeed.”

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