In May of 2019, Paul was working construction sales at a roofing company when an individual in a bank found his card and gave him a call regarding a roof repair. While giving the quote, Paul inquired about any other properties they might have. She said yes. Upon inspecting the property, Paul discovered that the house was 104 years old and needed everything.
Home Taught Lessons
Taking part of this chunk of money, Paul put money down on another house in Fort Worth. The house he bought was off of a failed investor and needed so much work. This one began to teach him a few lessons.
Experience Is a Ruthless Teacher
The other part of the money he received from selling his first deal he used to put money down on a property from the same seller as his first. Paul planned on making this into a rental property. However, most of the lessons that could be taught in real estate were about to come his way.
Unfortunately, a client of ours lost a loved one. This man was a real estate investor and was in the process of renovating a home. Our client was a busy man with his own life to handle and now owned a property that was ripped to the studs.
Simpler deals
At one point a friend of Paul’s reached out to him to get help for through their first deal. This one was in pretty good shape but did need cosmetic updating. Paul helped walk him through the deal and make the offer.
Hard Lessons learned doesn’t mean it’s easy.
After the flip that taught Paul a ton of lessons, he set some time aside to set up parameters for investments he wanted for his company. For deals he wanted to hold he wanted a simpler rehab that was mostly cosmetic. Very soon, one came up. A friend of Paul’s called him saying he wanted to move out of state to start a business and he wanted Paul to buy his house.
