The Once a Year Deals

If you do enough deals then you eventually get one that really works for you.  If you’re working and buying 1 or 2 houses a month, then about once a year you will come across a deal that just turns out to be a gold mine.

I have worked with a lot of partners over the years, because at different times I have found people who complemented my skill set and motivation at the time.

When I started out I didn’t know anything about real estate, but I had a lot of time. So I worked with people who knew what to do and I would do all the running around.

Later on, after I learned many of the different aspects of buying houses, then the roles kind of reversed, and I didn’t like to do the running around any more, so I would work with people who didn’t know that much about buying houses but would run around and knock on doors and do different things that take more time than I want to spend.

One of the guys who I have worked a lot with just called me and said that he bought a condo several years ago.  I remember when he bought it, there was a trustee sale that took place and it got postponed several times and for some reason he ended up bidding against one other person who ran out of money at $78,000 so he bought it for $78,100.

It was a very good deal at the time, and now a few years later he just sold his condo for a little over $600,000.00.

Not a bad return on his investment.

That was one of those deals that only come along once a year.