Waiting for Closings but Don’t Stop Looking for Deals!

Hey everyone, SK2 here. It is June 15 today, and there’s not a lot of excitement going on today in in real estate investment world. It’s just the waiting game today.

I’ve got a property closing this week, as long as all the attorneys say that’s cool. I should have another property closing next week, and I think we’re on pace for another one in July, but I haven’t evaluated as many deals the last few days because I am not in a position to jump in and go through the financing hoops when I’ve got sort of three open deals and I hope that changes over time because in my experience in other lines of business, when you stop doing the things that lead to deal flow in the future, you will arrive there, and bad things start to happen.

When I was on, and grew and ran sales teams, that was always the death knell. When you began to listen to the developers say “hey you got to slow down because we feel like there are promises being made that we can’t listen to,” and sales listened to that – that may have been okay because we didn’t feel the immediate pain then we would feel it down the road, and as I jumped into this business – real estate investing – one of the things that I realized is that deal flow is everything. 

If you’re trying to grow like we are trying to grow, you always have to be looking at deals all the time, because you never know where they’re going to come from. You never know when you’re going to get a really good one in front of you. The moment you stop, you put the entire business at risk because it’s difficult to find something from nothing, which is why you have to spend at least a portion of every day out there flipping over rocks, looking for deals, evaluating deals, and even though I’m not in a position to go after one right this moment, I still want to find a few, and have them at the ready so that when I am in a position to go after them, if they are still available, I can do that. 

Who knows if there are some creative financing options out there? Maybe I’ll find a deal where there is seller financing. Maybe I’ll find a deal where I’ve got some people in my network, friends and family, who want to be private investors, and acquire a property with me. You just don’t know so I have to keep it up and I have to remind myself that that is the way I have to behave.

But for me, Waiting is tough. I am pretty impatient, and this week is just wait wait wait, and it’s driving me nuts. So, that’s where I’m at. I’ll post more tomorrow. See you, folks.

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