Getting your first deal

General Advice

APR 30, 2022

The highway I take to the office is empty when I leave for work, just as it is when I return. It twirls and curves while I drive further into Long Island, as the view turns from brick & concrete into green. The car glides on the road unimpeded by traffic, with the cruise control latched slightly above limit. As the sunlight breaches the horizon, I peer into the other few cars on the road; but no one returns the gaze.

After I reach my building, I can’t help but whistle as I continue my pilgrimage on foot. The glass turnstiles slide as I scan my badge, while hurrying me into the elevators. Walking into my suite, the receptionist beams Good Morning in response to the grin on my face — I’m ready to take on the day.

The last few weeks have been a depressing struggle, and things got dark. I had a few contacts from my cold-calling efforts change their mind, as well as my own property upstate running into basement issues. Having leads you’ve been working for over a month tell you they’re not interested is heartbreaking; especially considering the absurd amount of hours it takes to nurture a lead.

I remember waking up early one day and sitting in bed, wondering: What the fuck am I doing? Why don’t I give up and get a job? This is when things got real. I had $0/month coming in, and my expenses hadn’t changed. After a shower and shave, I had a talk with myself. A common trait of people that have been knocked down and still became successful was their willingness to get back up. So I figured fuck it, what did I have to lose but my money, time, and dignity? And so here I am, still standing since.

The smartest thing I did last week was ask a listing agent in my brokerage if I could co-host her open house. My senior broker advised me that it wasn’t just enough to cold-call sellers, I also had to work on my pipeline of buyers. The open house was a dud for the agent, with only 5 people showing up and no offers. It was a win for me, as I connected with a buyer that was actively looking. I was slowly connecting the dots and making progress one step at a time.

It’s weird how things work out, because I’ve noticed whenever I’m going through a low moment — there’s always one serendipitous thing that gets me up. Day by day, both my buyers & sellers list is steadily growing while I get my psyche under control. The connections I’ve been making have been continuously teaching me new things.

For example, did you know that if a buyer was to switch loan products while in underwriting, the lender will likely require another appraisal?

I haven’t lost focus on the fact that my agent’s license is a means to an end to acquiring my first building. But if I’m going to do it, I’m going to do it well and that’s why I’m placing emphasis on the work and building out a system. A well built wall is just a collection of meticulously placed bricks.


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