Many years back I had a three year plan to be a real estate investor.
1. Get my Real Estate license.
2. Learn by serving others.
3. Save some money.
4. Become the one writing offers.
Year three through six came and went and I was deferring my dream. Fortunately, King Solomon had some direct advice for me.
" Hope deferred makes the heart sick, but when the desire comes it is a tree of life!..."
- King Solomon, Proverbs 13:12
It's amazing how quickly a hope deferred becomes a tree of life when you remember what you set out to do in the first place. As I re-embraced my dream, I got excited again. But...I didn't see a way to move forward because the "saving money" part was the wrench in the gears of my master plan. Solomon had some words for me again.
"Two are better than one, because they have a good return for their labor... If two lie down together, they will keep warm. But how can one keep warm alone?...A cord of three strands is not quickly broken..." - King Solomon, Ecclesiastes 4:9-12
I needed a financial partner so I approached one of my investor clients and told him I was ready to be a partner in these deals. HE...AGREED! A big side bonus was I saw an immediate increase in his respect for me as he saw me recognizing the value of what I do.
I quickly realized that my shift from agent to investor required me to get some new knowledge and get it fast. This was my chance and I was NOT going to learn the hard way! My new partner would surely teach me a lot but putting that on him wasn't what I wanted. Once again, King Solomon had some advice for me.
"Plans fail for lack of counsel, but with many advisers they succeed..." - King Solomon, Proverbs 15:22
I had two agents that are investors recommend the system they had used so I checked it out. I am not an affiliate of the company and I don't have any ownership, I am recommending Josh Cantwell and SREC as someone who deeply appreciates the knowledge I have gained from his system. www.strategicrealestatecoach.com is his website. It's where I learned how to do transactional funded deals and all the other tools I'm using.
The biggest game changer for me was learning about transactional lending. Transactional lenders base their decision to lend on the strength of the transaction, not on the individuals. They recognize the value of my deals like my previous investor clients, except they lend so I stay in the deal instead of buying and just taking it and giving me a commission.
Now, I write the offer. I'm the investor and I close on the property. I've got my deal all lined up before closing and I get the lions share instead of the small cut from commission. I'm also working with previous investor clients but as partners. I work with them instead of for them.
If you're an agent that has a desire to be the investor then just jump in! It's not a hard transition and it opens up a world of new solutions to offer sellers in need. Maybe investing is not your hearts desire; whatever it is let it be a tree of life! Thank you for reading, I'd love to hear your comments :)
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