I recently heard someone say that the definition of an Entrepreneur is someone who jumps off a cliff and builds the plane on the way down. I would have to totally agree with this sentiment.
When we first started out in the real estate investing business my husband used to say I would go out and make the mess (find the deal) and he would clean it up (get the inspections done and get the rehab going)
The second deal we ever did in our real estate business was a subject to. The guy just wanted us to take over the mortgage payments on his house so he could walk away. There was $145,000 of equity in the deal that I didn’t want to lose out on even though I had no idea what I was doing. Heck…I had no idea what taking a property subject to even was. We just wrote down on a yellow legal pad what we had agreed to. I then went back to my local real estate club and found someone to help us do the deal. He charged us $10K for his help in creating the paperwork to legally do the subject to deal. Ultimately our paycheck was $51K, I’m good. So yes we built the plane on the way down.
So the moral to the story is “Just Do It!” and figure things out as you go. Don’t procrastinate and don’t let fear be your guide! For all the information you need on building your real estate investing business, check out my website at www.marketingmagiclady.com AND when you purchase any product over the Memorial Day Weekend and use coupon code “magic” you will recieve 15% off your entire purchase!!