“Tell me and I'll forget, teach me and I may remember, involve me and I'll learn.” -- Benjamin Franklin
(Left: one of the distressed properties we're working on). I think Ben Franklin was on to something! This quote was "borrowed" from a real estate investing site I belong to. I don't know about you, but I learn by doing things hands-on. To paraphrase a quote Robert Kiyosaki made, he said, "When we make mistakes as entrepreneurs, it is how we learn." How appropriate this quote is, especially with real estate investing. There's so much to learn, study and remember. It's a process, so my learning curve never ends. It's been a while since my last blog. My husband and I have been very busy with our real estate investment company, doing everything from walk-throughs of multifamily apartment buildings to distressed single family homes. Currently, we're taking a course on how to buy distressed notes--which has also given our company another value-added niche.
Having an exit strategy in place for each niche helps us achieve our goals. For the first time, we're looking at distressed bank-owned foreclosures to wholesale to other investors. It's a bit different road dealing with banks rather than sellers. We've also been extremely busy building our team. It took me over 3 years to scour the industry for a decent property management company. The previous ones we interviewed were not a good fit. Through perserverance, we finally found a great company that has a strong presence in the markets we work in. Financing is also in place.
As of June, 2016, we became members of a nearby REIA which we attend regularly. Each month, a different group of professionals attend the meetings, so it's never the same folks. This helps to expand the number of quality people we network with. Networking is loads of fun, getting to connect and do business with people we wouldn't meet otherwise. Getting acquainted with bankers, hard money lenders, contractors, rehabbers & other investors are what helps us become successful.
Leapfrog Services LLC has been in business since 2012. Because we live in a rural area, it was necessary to explore opportunities elsewhere in order to build our business and learn to create a brand. Being your own boss entails long hours/loads of work but is so worth it in the end. Real estate investing is my PASSION. It's exciting! At this point in my life, I would not dream of doing anything else!