Archives For Real Estate Investing

Lessons Learned From 2007

January 5, 2019 — 5 Comments

In 2006 and 2007, I received some of the best advice I didn’t listen to. It came from three of the smartest investors I’d met up until that point in my career. They were mentors and business partners, but now they are friends. To me, a cocky 28 year old millionaire house flipper, they were just “old dogs”. You see, I was rewriting the way flipping was done, I thought. In 2006, I rehabbed and flipped 120 houses. In 2007, I did 143. I was top in the nation for HomeVestors, and nothing could stop me. Little did I know, I was destined to meet the truth. The truth came to me in the form of “The Great Recession”.

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That’s it.  I said it on the internet, so it must be true!  It’s on Facebook too, so you should all stop buying houses immediately and send your leads to me!  Below this text, you’ll see a fun “dialogue” I had with someone on Facebook yesterday.  It was started by a Dallas/Fort Worth REALTOR® that was commenting on price drops and increased days on the market.  Unfortunately it was followed by Continue Reading…

So, I’ve made a lot of mistakes in the past.  I’m sure I’ll keep making them until I learn to listen to my wife!  One of my largest mistakes since founding 2020 REI was rapid expansion.  Not only of office space, but also expenses and personnel.  Operating under the standard entrepreneur ideology that if you build it, they will come.  We’ve gone from a 300 square foot office with two couches, two people and a desk; to 5,000 sqft overlooking downtown with 50 people; and back to 1,300 sqft in the corner office with five people.  Should we have Continue Reading…

Experience is the best learning tool in my opinion. It has worked really well for me.  The thing I have recently learned (now that I’m almost 40) is experience can also make you very, very, wrong.  I was recently at a group meeting where someone was going on and on about what happened in the past.  I get it.  History repeats itself.  But, does it always?

In this day of innovation and information sharing, is it possible that we may actually not repeat some of our mistakes?  Is it possible in this new global sharing economy that cycles and patterns are changing?  I think so, and if that is the case, leaning on YOUR experience could actually make you very Continue Reading…