Winter Soldier: Insights on Fighting a Stagnant Market

Introduction

For most, winter in real estate feels like hitting a wall. I get it. It’s a period when the industry slows down, impacting almost everyone. But here’s a perspective shift: it's a hidden playground for those ready to innovate in sourcing deals.

Self Inflicted Barriers

One pivotal realization I've had is the untapped potential within our networks. Believe it or not, there’s likely over a million dollars in opportunities sitting right in your phone contacts. This isn't about having a network; it's about actively leveraging it. In 2022, I reached out to countless agents, many still active in the business. This sparked a crucial question: which of these connections could evolve into a fruitful business relationship?

Here’s the thing about wholesale deals: they often get a bad rap among realtors, mostly due to misunderstandings. As an investor, your goal is to uncover avenues to provide value. It’s not enough to just have connections; it’s about nurturing these relationships into something mutually beneficial. Lots of people in the wholesale industry can’t perceive why that’s even relevant to them to be successful.

Opportunity Cost

Take 2022 as an example. I had a near-flip under contract in the town of Southport in southern Indianapolis. The numbers didn’t line up & the seller was firm. To make matters worse, when I attempted to wholesale it, the deal slipped into a daisy chain. It’s a thin line between pride and common sense, and respecting that line is crucial. That is what keeps me from working with certain individuals. FlipOS (or STOA), an asset-based lender, offered to finance the deal. It sounded perfect, especially for someone young like myself with limited credit. But the real eye-opener was realizing the importance of understanding the investor's viewpoint in every deal. The lesson? If you wouldn’t buy it yourself, don’t pitch it to someone else.

These experiences taught me that comfort is where ambition goes to die. If I were to rewind time, I’d plunge myself into more uncomfortable conversations, pushing myself to learn and grow beyond my comfort zone. Playing in the traffic flow of information and knowledge, I was bound to get hit by a Maybach of opportunity.

So, why would a realtor offer me pocket listings or a commercial broker allow me to market their property? Why would a lender trust a newbie? The value I bring is being a student of the game, understanding the intricacies of the market, and having a track record of both failures and learnings. It’s about providing something genuinely valuable, something that makes their lives easier and more profitable.

For The Love of the Game

I've failed, and I’ve failed a lot. Each failure was a lesson, shaping me into a more knowledgeable and resilient professional. In these failures, I found my strength, my competitive edge. This is my unfair advantage in the marketplace—being a servant.

But let’s talk about the tough times, the moments when I didn’t make a single dime. These periods are not just about enduring but about finding love for the game. As the greats like Jordan and Kobe showed us, it’s not just about winning; it’s about loving the game itself. That’s where true victory lies.

Remember, self-care is vital in this hustle. It’s about active recovery, finding what rejuvenates you, and integrating it into your daily routine. This industry can be relentless, but your well-being is your greatest asset. No real reason to make millions and you’re physically bankrupt.

Conclusion

In conclusion, use your experiences, embrace the discomfort, and always seek to add value – to others and to yourself. Discomfort is the manure that allows things to grow. So don’t be afraid to get dirty. And stinky.