EP 399: The Anatomy of Failure: Valuable Lessons from Our Worst Deal
Aug 14, 2023
How can you avoid costly mistakes and turn your worst real estate deals into valuable learning experiences? In this minisode of the Real Estate Investor Show, hosts Liz and Andresa discuss their worst deals and the valuable lessons they learned from them. They emphasize the importance of clear contracts and defined roles in partnerships, highlighting the need for control over hiring and managing contractors. They also stress the significance of thoroughly evaluating the local market before undertaking a project, including factors like contractor availability, property management options, and financial viability. Ultimately, Liz and Andresa remind you that failures are opportunities for growth and that feedback is invaluable in shaping future success.
Tune in and discover how to thrive in the real estate business, even when faced with challenges. Don't miss out on transforming failures into stepping stones to success!
Quotes
- “In partnerships, clarity is key. Clearly define roles and establish contracts to ensure effective management and control over contractors.” (03:31 - 04:10)
- "You cannot dismiss the power of the local market when evaluating a project. It's more than just getting a good deal; it's about attracting the right team and ensuring financial viability.” (07:37 - 08:02)
- “Don't let your worst deals define you. Treat them as feedback and use it to fuel your growth and progress in the real estate business." (11:45 - 12:08)
How To Join the InvestHER Movement
1) InvestHER CON 2024 Austin, TX Omni Barton Creek Resort June 3-4 - "ALL IN – It’s Time to Thrive”
Here is what you can expect at InvestHER CON 2024: Pre-event network, 2 full days of transformational experiences, access to over 20 Sessions with Keynotes and Speakers, recordings from all sessions, access to investors, mentors, and influencers, mindful networking, opportunities to connect with our sponsors + vendors, coffee and lunch included, Final Reception: Red Party, Live 30-day Group Accountability Virtual Session with the Founders Liz and Andresa, Exclusive Breakfast for STRIVE members only.
"InvestHer CON was truly a transformative experience. I have felt so alone for so long and now I feel like I have a community of support. I don’t have to be the master of everything and take it all on my shoulders, I just have to do what I am excellent at." - Heather Giammichele
Join us in. Get your ticket today https://www.therealestateinvesther.com/investhercon
2) InvestHER Community on Facebook : a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!
3)STRIVE Membership - for highly ambitious and decisive Real Estate investors looking to grow your Real Estate portfolio on your own terms while making deeper relationships with successful women playing at the same level.
APPLY today at https://www.therealestateinvesther.com/membership
4) InvestHER Meetups Around the Globe : attend in-person meetings held monthly by experienced InvestHER Leaders! Find the location near you: https://www.therealestateinvesther.com/investhercon
5)The Real Estate InvestHER Podcast - straight talk and inspiration for current and aspiring female real estate investors to live both balanced and financially free lives. Subscribe here: https://podcasts.apple.com/us/podcast/the-real-estate-investher-show/id1346815972
6)InvestHER™ ORG with eXp : all-woman investment group for agents and build your personal portfolio while creating generational wealth! Get the benefits of being part of a team without extra fees! Schedule a discovery call: https://www.therealestateinvesther.com/investherorg
Take your business to the next level without losing your sanity!
Join STRIVE membership and get the support and accountability you need to take the next steps towards achieving your goals on your own terms
