Secrets to Winning with Failed Real Estate Deals - John Lee - Bog

If you've ever worried about losing money in real estate, this book is for you. It's meant to show you what can be done with failed deals.My intention is not to scare you. It is to inspire you. I believe there is always a way to win and I want to encourage you to believe the same.Many lessons are learned the hard way. Many can be learned from others doing things the hard way. In this case, it's sometimes me doing things the hard way.Rarely does someone make it overnight. It usually takes years of practice to become an overnight success.Every real estate transaction teaches a lesson. It can be an inexpensive lesson or a very expensive lesson. Most lessons you can learn without Breaking the Bank. The choice is yours.Every real estate deal is a winner, right?When I first started getting into the investing side of real estate, I only heard about the Wins. No one ever talks about all the money that is actually lost in real estate investing. And yes, there is a dark side.The dark side of real estate investing starts with all of the Gurus and False Prophets like the ones you see on TV. They paint this grandioso, awesome lifestyle that everyone seems to have, except you.We're told that we too can live a lavish life if we just quit our day jobs and get into the real estate game like everyone else. Of course, who wants to get left out and miss the boat?Many of these Gurus and False Prophets make most of their money off of selling their courses, their mentorships, and in some cases, even selling their unwanted properties to you. Many have never even done a real estate investment deal in their life. Some have only done a handful.Don't get me wrong. There are some very good real estate Gurus out there, many from whom I have personally learned a lot. Just be aware of what you are getting for your hard-earned cash.It's easy to get swindled today with all of the hype and the easy access to the internet. You too, can set up an internet sales organization in your basement.Can a deal be salvaged?Very few real estate investors will ever tell you of their failures. And there are many, many failures in real estate investing. Like anything in life, you are going to have ups and downs. Just about every failure has a lesson attached, if you look for it.It is worth repeating: I have learned more from my failures than my successes. Sometimes the failures don't make sense. Sometimes you have to look hard and read between the lines to see them. It's always important for you to find the lesson in every deal.One of the most important lessons that I have learned from my failures is what to do with it. Can it be salvaged? Can this flop be flipped and turned into something that's not so bad? Can it still be a win/win/win?You can learn a lot from failed dealsI have found that almost every time that I looked hard enough, a deal gone bad could be made into something good. The only exceptions are the ones that I chose not to save. Sometimes it is best to just stop the bleeding and walk away.That's why education is so important. You will still make mistakes and failures; they will just be more educated ones. There are always going to be some unforeseen things that we encounter. It's still important to learn the lesson.I'm going to show you some of the failures that have come my way and how most of them were able be solved.You've heard the saying that when life gives you lemons, simply make lemonade? Well, sometimes you're not lucky enough to even get lemons. Sometimes life gives you onions. So, what are you supposed to do, make onionade? You may like the thought of that, but I don't. So, what do you do with this onionade? Well maybe you just spice it up and make it into some sort of gravy to enhance your potatoes. Sometimes when making some kind of dish, I may not have what I want. And I may not want to go to the store for one thing I need. So, I'll make do with what I have. Real estate investing is the same way.