So, I have been wondering whether or not to go commercial or residential. Let’s face it – 1 commercial deal can make millions of dollars. But, those deals are almost always a million times more complicated. So, I think I will do a few residential deals first. I guess I have to crawl before I can walk. But in order to be successful in commercial, I have to first learn how to make a profit selling houses. Ok. I recommend setting some goals based in reality. Next, we create milestones to help us reach those goals. And lastly, we execute daily to get us to the next milestone.
1 – Goals: I do at least 3 residential deals by this summer. Each deal can be no larger than $150k
2 – Milestones: Review at least 100 properties; discuss them all with my broker; secure financing for each potential deal
3 – Execute!
The first house looks easy. I will share this flip-attempt with you in more detail in the next post.
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