Money Advice
If you are looking for “free coaching” on your deal, no one will give you better advice on whether or not your “deal” is actually a “good deal” than a Lender. The reason is they usually have more capital and skin in the game than the investor borrowing from them. They also don’t want your deal to fail – they are in the paper business not the houses business – they want to own/control the money while you own/control the property. Blink Lending has an excellent “Get a Second Opinion” feature that will allow you to have that extra pair of eyes looking at your deal. Find them on our VENDORS page.
What’s the best money advice we can give you? Before you get a deal under contract or put a non-refundable deposit down with a wholesaler (as an example) will you attend our training? You see, we are not able to vet each and every deal to check to see whether or not it’s a good deal. But we want to give YOU the tools to do exactly that! The best investor is an educated investor. If you don’t take the time to get educated, then you may fall prey to the old saying “A fool and his money are soon parted”. I don’t worry so much about the investors who don’t have money who are putting properties under contract (with little earnest and option money deposits – ie little skin in the game and little risk).
I do worry about the investors who DO have money but DON’T have training. I’ve seen monied investor after investor buy property from someone else prior to verifying the inputs they are given – specifically the After Repair Value (ARV) and the Repairs it’ll take to achieve said ARV. Sometimes there’s a conflict of interest going on here: The person bringing you the deal is also bringing you the numbers/facts to do the due diligence and they only get paid if you believe what they give you. Are you seeing a problem here?
“Experience is the toughest teacher there is. Experience gives you the test first and the lesson after.” ~ Vernon Law
At Texas REIAs we are really good at solving problems and coming up with creative solutions. We just prefer not to unscramble and egg. So before taking action on a deal, take action on your education by heading to the EVENTS section of our site to make sure you don’t lose money. Trust me, you’ll appreciate it in the long run.
“Don’t BUY your experience with mistakes like a Fool, Manage your risks by learning from a Pro.” ~ Shenoah Grove
If you are interested in commercial investing, we recommend you start at either the local REIA meeting (just to get to know us) and then sign up for our upcoming Big Profits Live Class – our high level commercial training. You can register for these on the Events page.
After that we have additional commercial training that is by invitation only where we explore multiple commercial asset classes – Apartment Buildings, Self-Storage, Residential Assisted Living, Mobile Home and RV Parks, Land Development, Oil and Gas and Mineral investing and more.
Club Disclaimer: Your personal level of success in attaining the results from using our information and strategies discussed at our events totally depends upon your own individual circumstances, the effort you devote to your own financial success, the ideas and techniques used, your finances, the various strategies that your financial, legal, and other advisors may have suggested that you implement, your knowledge, and various other skills. Since these factors differ among each individual, we cannot guarantee your success or income level, nor are we responsible for any of your actions.
Code of Conduct Policy: While Networking with others at the Club is encouraged, we strongly recommend you perform your due diligence prior to entering into any real estate agreement. For more information, please refer to our Club Members Code of Conduct Policy