The new real estate investor asked, “Bill, can you help me put together a deal?”
“Sure,” I answered. “What kind of creative deal do you need help putting together?”
“It needs to be one of those subject-to deal thingamajigs, combined with a land-trust doohickey,” she replied.
I paused to consider what she had just said. I asked, “A doohickey? Have you ever done a subject-to deal or worked with a land trust before?”
“Not yet. This will be my first time to use either technique,” she explained.
It reminded me of something Jack Miller (God rest his wise soul) once said: Speed, greed and ignorance equals a real estate investing train wreck. So true – especially in this case!
Why is it that new investors think they can take one or two classes and then know all there is to know about real estate investing? Sure, we’re morphing into an impatient society that wants instant gratification, but most things still take a lot of time to master – about 10,000 hours! There’s no single class to take or computer app to get that will allow you to know all there is to know about…