by Tammy Phelps

YOU KNOWTHE SAYING, “SHE COULDN’T SEE THE FOREST FOR THE TREES”? While coaching new real estate investors, I find myself in many forests. My job as a coach is to guide them through it. Here is a story about an investor named Stephanie who found herself, literally, in a forest-like investment opportunity. So, how did we turn opportunity to prosperity? Stephanie asked me to come look at a ‘wholesale deal’ with a $10,000 profit as it was outside-of- the-box. She said, “You can’t see the property for the trees!” After

my third U-turn, I finally found the driveway. An excellent location surrounded by affluent homes nestled on a Sherwood Forest lot were two single-family homes. As I started towards the larger house with the front door swinging Stephanie shrieked, “Uh! You’re not going in there are you?” She reluctantly tip-toed behind me through the hoarded dark rooms and overpowering stench. Upon exiting and standing in the middle of the driveway between the two houses, she put her head down and whispered, “I made a mistake, didn’t I?” With my arms out wide, I spun around and said, “Do you see what I see?” I asked her to look through a new set of lenses with me and visualize the sweet future of a

honey hole overflowing with liquid gold (aka cashflow.) We discussed the initial phase of due diligence and — if lucky — at best both houses would be rehabbed and rent-ready in four to six months. Drum roll, please... Would you rather take little to no risk TODAY and receive a one-time $10,000 wholesale fee in 7-14 days or take a managed calculated risk requiring hard work and lots of due diligence knowing that in less than six months you would receive $4,500 per month for a LIFETIME? Believe it or not, when I have shared this story and asked similar questions, the response has been stunning. Most say, “I’d take the money and run!” It was definitely a not-so-

12 | think realty magazine :: june 2020

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