When I first got started with flipping houses, I got my first deal off my first postcard campaign. I thought I was a genius!
Then my mentor reminded that me I probably got a bit lucky and that it takes most people 6-9 months to get their first deal.
And sure enough, that 2nd deal remained elusive for months, and I almost gave up, had my mentor not continued to encourage me enough to handle this “waiting” period.
And similarly now, I am frustrated by the lack of deals. I’ve had two apartment buildings under contract in the last 3 months, and neither of them worked out during due diligence.
It’s frustrating to faithfully work the business like you know you should and not have anything to show for.
What to do?
I asked three experienced apartment building investors (Ben Leybovich, Brian Burke and Joe Fairless) how they handle the waiting game, and here’s what they said.