How to Do The First Deal - CREPN #36

The first deal is the toughest.  Nobody wants to do your first deal.  

Do you know what you are doing?  Nobody including you know, and nobody wants to find out.

So what if you don’t have experience in Real Estate, have no deals under your belt, and still want to get in what do you do?  If nobody will give you a chance, how do you get the first deal done?  

Everyone knows someone in Real Estate and has heard the success stories, and thought, "I need to do that".  But who knows the hard work it takes to get in, find capital, find a deal and make it happen?  How many have done their first deal?

To hear how Jonathan Twombly made it from an unhappy New York Lawyer through his first deal and now a successful Real Estate Asset Manager, check out my interview with Jonathan Twombly of Two Bridges Asset Management.

Strategy:

Who to work with:  Jonathan’s relationships lead him to multiple partnerships enabling him raise capital, find the professionals that lead to the off market opportunities that are saved for proven investors.  

Where to invest:  Knowing the data can go a long way to minimizing the risk involved.  Is the area population growing?

What to invest in:  A, B, C, D class real estate?

What  are the new projects for working class housing, class B & C?

Check out Jonathan’s  blog: http://www.themortarblog.com/ & get  "The Ultimate Guide: Newbie to New Pro in Just 21 Days!"