How I Moved Past a “Career-Ending” Loss and Got Success in Real Estate. Some of it through tax lien and deed investing. So there I was, the crushing weight of a $120,000 loss bearing down on me. It was a massive debt hole to climb out of!
I took a financial risk I couldn’t afford. I overestimated my profit margins and let the costs of the renovation spiral out of control. This is why I recommend newbie real estate investors pay in cash. If you go into debt to flip a house, you are at the mercy of rising interest costs. This is what I did. I saw the costs eating away at my investment and became desperate to make a sale.
Weeks passed, then months. The desperation of my financial burden forced me to sell low and take a huge loss. Although my bank balance was ruined, I didn’t let my mind be broken. I like to say “if I’m gonna fail, I’m at least gonna fail forward.” I knew this was just a setback on my path to get success in real estate. A pretty massive setback, but not an unsolvable one.
Why did I take that loss? In short, I bit off more than I could chew. I thought I was a hotshot real estate investor and went into a deal without doing the proper planning, without knowing the market, without having a budget. What made the difference was I learned from all my failures. Before I went into real estate, I had all these ideas about how to be a successful real estate investor. The reality turned out to be very different. This is why it is essential to do your research in order to separate fact from fiction when it comes to getting success in real estate.
Jackie is a real estate coach and investor. She teaches new and seasoned investors how to rewrite their money story and invest in real estate with confidence, without fear, guilt, or shame. She’s served on Central Florida Realty Investors Association’s Executive Board for two years. Jackie gives her clients the tools to design the life they want through real estate investing. She offers online courses you can take at your own pace: Tax Deed Genius, Tax Deed Genius Lite, and the Surplus Overages Course. She also offers a 1-hour consultation. She also shares free lessons on her YouTube channel.
Jackie teaches tax lien and tax deed investing in all 50 states, plus surplus overages. Build Your Dream Life One Deal At A Time. Click here to find out more about Jackie and her story.
