Today, Tyler Sheff joins me on this episode to discuss something we are both experiencing. Many students go through our courses, but they are in such a hurry to make a deal that they don’t follow the steps they learned in the classes and they end up in financial trouble.
What troubles us the most is that they spend the money to get the education, but then they fall back into the same mindset. We don’t want to fail these students, but we are at a loss on how to help these types of students. Some students want to just walk through the steps of a deal even if it’s not a good deal and they know they are going to fail because they want to have the experience. The problem is they miss a lot of steps that they could have taken when they have this kind of mindset. For us, this is waste of time.
So many people get such an urge to get a deal because they are worried their line of credit might expire if they don’t get a deal quickly enough. However, they aren’t considering a lot of important factors. One of those is bad financing. This is a deal where you will make no money in the end. Somebody that has the financial know how to present a seller-financed deal will come out way ahead because that money will continue to grow.
But you have to be patient and not in a hurry to just make a deal. Visit www.larryharbolt.com to sign up to get more tips on how to be a successful real estate investor.