Deal #3 Update: Every deal has it’s own crazy, But CHA-CHING!!

Scott Costello All, Blog, Featured, Lessons Learned 10 Comments

My partner and I have now officially wholesaled our second property!!  The timing of this deal is another reason why having a partner is worth it’s wait in gold.  I couldn’t imagine trying to work this deal while my life was changing with the birth of my son (that still gives me goose bumps saying it, my son!). While this deal closed on schedule, we did have some ‘oh shit’ moments as we approached the closing date. … First the …

Direct Marketing plans

Marketing Monday: My $25 Mistake

Scott Costello All, Blog, Featured, Lessons Learned, Marketing 5 Comments

Today’s Marketing Monday is a Lesson Learned all at the same time.  From time to time I’ll use different styles of envelopes for either testing or because I run out of my normal ‘lopes (just made that up LOL) and steal some from my wife.  Her stash is usually full of nice invitation and thank you type stationary she gets from places other then the dollar store or Staples.  You know those stationary stores where it costs $30 for 8 greeting cards and …

Lesson Learned: What a Failed Deal Can Teach You

Scott Costello All, Blog, Featured, Lessons Learned 10 Comments

Investing in Real Estate is almost never easy and many times you learn your most valuable lessons by deals that have fallen apart.  The only real hope is that these lessons are not expensive ones, but many times they are.  You can have all the mentors you want or have packed your brain with as much knowledge as possible and that still doesn’t mean you will escape the school have hard knocks. My Lesson Deal #2 is officially dead!  After 2 …

Lesson Learned: Order of Contracts

Scott Costello All, Blog, Featured, Lessons Learned 7 Comments

Some lessons are learned the hard way in real estate investing.  By the hard way, I mean you lost out on a lot of money because of not knowing something important or just making a stupid mistake.  Fortunately for me, Lance and I learned a lesson the easy way and it didn’t cost us a dime. Reading about real estate investing over the past few years, I pretty much thought I knew everything I needed to know about assignments and …

Lessons Learned: Bye Bye Broker

Scott Costello All, Blog, Lessons Learned 5 Comments

Last summer, after being tired of trying to find a Real Estate Agent to work with,  I decided to just get my own license.  Which I accomplished by September and then signed on with a very small broker.  For those not aware, in order to do anything as a RE Agent you have to hang your license with a broker.   If you don’t hang your license you can not have any of the benefits of being a Sales Agent like …

Lesson Learned: My Secret to Debt Reduction

Scott Costello All, Blog, Lessons Learned 18 Comments

Debt to me is the ultimate four letter word and I hate it with a passion.  I always used to admire the people who could purchase a car or even a house with all cash and then be done with it.  Growing up, my parents financed every car, mortgaged their house and never thought twice before plopping down a credit card to pay for something.  It was a way of life for me growing up, and I’m sure many of …

Lessons Learned: Presentation

Scott Costello All, Blog, Lessons Learned 11 Comments

Over the past several weeks I’ve been attempting to network with Realtors who have short sale listings so an investor I know can make offers on them.  I haven’t had any problems finding such Sales Agents, but I have been running into road blocks each and every time. It’s a numbers game right? From talking with other investors, I know this method of finding leads works.  What am I doing wrong here? Everyone always says it’s a numbers game, so …

Lessons Learned: Get More Out of your Day With Daily Deadlines

Scott Costello All, Blog, Lessons Learned 9 Comments

After last weeks lesson about doing The Wrong Kind of Busy I started really analyzing how I spend my weekday nights (my real estate investing time).  It was a very good exercise to try and identify what are the money making activities and which are not and cross those off my list.  Then I thought to myself “Self, how can I be more productive?” To answer this question I have to really think about the situations in my life where …

Lessons Learned: The Wrong Kind of Busy

Scott Costello All, Blog, Lessons Learned 14 Comments

In last week’s Lessons Learned I talked about how important it is to stop hiding behind technology and actually use the phone to communicate with people.  For some using the phone is natural but for others like myself it is going to be a challenge because we have to overcome habit and fear. This past week was a pretty busy week for myself, I rarely watched TV and was contently doing something that was Real Estate Investing related.  Let me …

Lessons Learned: What I did Wrong This Week

Scott Costello All, Blog, Lessons Learned 12 Comments

One of the best ways to improve habits and continuing on a positive path is to look back and analyze your actions.  I’m going to start a new post series called Failure Friday Lessons Learned that I will attempt to identify something I did wrong or could have done better over the past week.  The infraction may be something big or it may be something tiny, but if not corrected I will be destined to repeat that same mistake over …