The Wisconsin Investor
Each week, we bring you interviews with some of Wisconsin's top real estate investors who share their tips, tricks, and strategies that you can implement right away. This show is dedicated to helping Wisconsin real estate investors elevate their game. Along with interviews, I'll also dive into hot topics in solo episodes and feature experts from various real estate sectors across Wisconsin.
The Wisconsin Investor
What Actually Moves Real Estate Deals Forward
In this episode of The Wisconsin Investor Podcast, Reese Brown and Connor Derenne tackle the real conversations they have every single week with Wisconsin investors. Not theory. Not guru advice. The objections and roadblocks that actually stop people from doing deals.
The episode focuses on why so many investors feel stuck, what “analysis paralysis” really looks like in practice, and how clarity around goals, buy boxes, and networking is what actually moves deals forward.
Rather than talking about market timing or perfect deals, Reese and Connor break down:
🔍 Why most investors don’t know what they’re actually looking for
⏳ How waiting for the “perfect” deal often costs more than a bad first deal
🎓 Why your first deal can be tuition, not failure
🤝 How networking quietly solves confidence, funding, and execution issues
🏦 Why Wisconsin’s local lending and investor ecosystem is a massive advantage
The core theme is simple. Progress comes from clarity and action, not more consumption.
What is up, guys? Welcome back to another episode of the Wisconsin Investor Podcast. Another week without Corey, he is missing. I am one of your co-hosts, Reese Brown, alongside my good friend Connor Doreen. And today we are going to talk about some objections, some common misconceptions, and then what actually moves deals forward in real estate. So really excited about what we have to cover today. But before we get into that, as always, a quick shout out to today's show sponsor, Wisconsin Discount Properties. So if you guys are looking for off-market deals, um, this is your one-stop shop every single Monday morning. Uh, anywhere between two to five off-market deals are hitting our buyers inbox. Now, these are deals that are not seen anywhere else. So go to Wisconsin Discount Properties.com. There is a ribbon at the top. It says join the list, fill out your information. Takes about 30 seconds uh to start getting those properties. So without further ado, let's get into today's episode.
SPEAKER_01:Hey guys, Connor here. Um, so today's episode is all gonna be about real investor conversations that Reese and I have every week. Um, we're gonna be covering objections, hurdles, and figure out what actually helps move a deal forward. Um, so you know, every week we talk to what Reese, you know, ton of different uh investors, right?
SPEAKER_00:I'm talking probably to guys who are in um the ecosystem doing more deals consistently. You're talking, you're getting a lot of guys started uh in this environment. So between the two of us, you know, hundreds, I'd say around a hundred probably each week.
SPEAKER_01:Yeah, absolutely. Um, so I will start, you know, what's you know, what's the biggest objection we usually hear? I don't know what you usually hear on your end, Reese, but for me personally, I'm seeing, you know, those newer investors and honestly just any investor, they're really waiting for that perfect deal. So uh I guess I'll let you kick it off and see if you've been here on the same side with you know investors that are doing it every day and kind of so you take from there.
SPEAKER_00:Yeah, yeah. So the I think where this kind of branches to right away, it's not so much we're waiting for the perfect deal as they don't even know what the perfect deal looks like. A lot of investors um that we talk to that are kind of caught in that analysis paralysis. Um what do you want to call it? Like a spinning wheel, like a hamster wheel, right? Where they just are analyzing deals, consuming content, but not uh making the move forward is that they really don't know what they're looking for. So a great exercise that you know we're doing with a ton of buyers, Connor, is just deep diving your buy box. Um, and that's finding, you know, where do you want properties specifically, right? Being very intentional about you know the rehab scope of these projects, uh, very intentional, intentional about uh the total purchase, right? Um and coming up with something that works for you, every investor is gonna be a little bit different.
SPEAKER_01:Yeah.
SPEAKER_00:Um, but I think that's a great place to start. I don't know what you're seeing on your end. Yeah, different things.
SPEAKER_01:No, absolutely. I mean, I like the part where you said, you know, what is best for you. I hear a lot, especially with newer investors, right? You know, what is the best route to go, right? There are so many different options. You know, you can flip, you can do long-term rentals, you can do short-term rentals. You know, what do I start with, right? Um, and I think that all ties back into what you were saying with the buy box, you know, tying it back to your initial goals, right? So I think you know, you might even be one step ahead, right? When these people are coming in fresh, um, you know, how you get to that buy box, I guess. What would you like to do?
SPEAKER_00:You bring up a great point there. It's that they come in, right? It's oh, burr's awesome. Long-term rentals, flips, and yeah, it's all great. It's all very exciting at first, but that it's that's the easiest way, I'd say, to get stuck in that loop that we're talking about is when there's so much there to consume. So to get to that step, um, it's really aligning it with your bigger goal. Like, why did we get here in the first place? What brought you to real estate? And without get having that question answered, you're never gonna move to, oh, well, I want to do, you know, a flip in Green Bay. I want it to be, you know, under a 25k rehab. You're never gonna get there if it doesn't tie back to your bigger goal. So, no, absolutely.
SPEAKER_01:Um, so I feel like you know, that is the number one objection, right? Is what is the best situation? And I think it all kind of ties back to what is the best situation for you. Um, you know, especially when you're just starting out, you know, there's so many different ways you can go about it. So um the other you know, objection is you know, they're trying to build this big portfolio without having you know a single deal. Um, so I guess you know, what is it or what advice would you give people that are just starting out? You know, so you know is that gonna tie back to the goals as well?
SPEAKER_00:Or is there yeah, I think it's it's something that Corey's talked about a number of times, right? Is reverse reverse engineering uh the whole system back to the bigger goal. Uh, because if it's not tied to that, you're gonna get lost in the cycle. I mean, this stuff is uh it's a lot of work, it's not always fun. And if you don't have that tied in, it's gonna be really hard to keep moving forward. But to get back to your question, Connor, um, I think Zach Morgan, who's been on this podcast before, had a great post uh the other day on Facebook, it was, and it's just the act of getting started is kind of the most important piece of the puzzle, right? Your first deal could be your tuition. What that means is right, you might lose 20 grand on your first deal, but hey, a lot of guys are paying much more than 20 grand to uh go get an education. So um that's taking a step uh can be, you know, even if you lose on that first step, is definitely uh the most impactful. And right, going back to the the objection of waiting for the perfect deal, what is the cost of waiting for that deal? I think we we really tend to undervalue the cost of just sitting there um and analyzing deals when there's opportunities out there.
SPEAKER_01:So yeah, no, that's a really good point. Is there any uh I can speak a little bit on this too, but what would you tell someone? I guess what are some actual steps to kind of get to that point of figuring out what direction you want to go? I know you said reverse engineering stuff. Um, what is that what did that look like for you, I guess?
SPEAKER_00:Yeah, and this is something that you guys have heard if you've been listening to this podcast for a while. Corey preaches the bigger goal time and time again. And I think it's really easy to get away from that. Um, especially uh, you know, myself personally, a little bit more of a logistical thinker, hard for me to always tie things back to the bigger goal. Um, and I've I've gone back to it three times already in the first 10 minutes of this. Uh it's right, it is identifying your why, what is gonna push you to make that next step um and do something. Because if that why isn't strong enough, well, you're you're not gonna, there's never gonna be actual progress being made because you don't have a reason to do it. So I think going back listening to a lot of what Corey has talked about in past podcasts, I think he he even has one that's mainly focused around defining your why. And that is a great place uh to start that process of of reverse engineering this.
SPEAKER_01:Yeah. So no, that's awesome. And you kind of mentioned something there too, you know, not having a strong enough why. Um, you know, I feel like that's where some people kind of fall into that second hurdle I hear a lot is, you know, I'm not ready, I'm still doing research. You know, at what point are you, you know, overanalyzing the deal and you know it's no longer, you know, uh educational side of things, but more just a confidence side of things.
SPEAKER_00:Yeah, that that's hard. There's a lot to that question, Connor. Um analysis paralysis, though, is such an um easy trap to fall into, right? It can feel very productive to be consuming content like this, right? Uh real estate content, you know, reading books. And there is definitely room where that is super helpful, right? I all of us got our start by doing that, by listening to bigger pockets, I know is is what a lot of people um started with, myself included. Um, and I think you draw that line, right? There's not a there's not a yes or no when you draw it, but most folks uh that I've talked to at least, when they're saying no, they're ready, they have everything lined up, they have their financing, and every deal doesn't work for them. Uh, I think that's a really good time to, you know, have a have a long hour talk in the mirror with yourself and be like, wait, am I just telling myself these aren't working because I'm scared to do it? Uh, which is you know something that we we both see. And I'm sure, I don't know if you have anything to add to that, but I'm sure you see that as well in the conversations you're having with newer investors.
SPEAKER_01:Yeah, absolutely. And I think um, you know, the main the biggest hurdle they have is just that lack of confidence, more or less than anything. Um, you know, I feel like, especially, you know, my story, I learned a lot, you know, I learned a lot more in the last eight months doing my rehab and working on my duplex and you know, talking through the deal and actually being hands-on than I did in my year and a half of listening to you know, podcasts, reading books, um, which will kind of tie into something that we're gonna get into a little bit later, too. Um, you know, networking has been a huge part for me as well to kind of get over that hump.
SPEAKER_00:Um, no, that's that's early point, is you the amount that that folks learn, even with you know, you've seen you've seen the guys go from, hey, I'm kind of interested in this, no idea what they're doing to getting deals. And what is the is the difference maker usually them, you know, actually getting into their first property? Where do you see the biggest kind of leap for people's personal development when it comes to you know real estate investing?
SPEAKER_01:No, that's a I love that question. So what I've seen um honestly is just the small and perfect action that people are making. Um so you know, my initial conversation that I'm having with investors every single day is you know, first, you know, like we talked about in the beginning, you know, what's your goal? You know, why is that goal important to you? What is your why behind it all? You know, there's other ways to make money outside of real estate. Yeah. Um, so why is real estate important to move that vehicle along to get you to your goal, right? So I always start with that. You know, if your why is not important, like you said, you know, yeah, this isn't gonna be, you know, uh a long venture for you, to be honest. Yeah. Um, but with that being said, you know, going back to the small and perfect action, let's say your why is strong, right? You want to get into real estate, you know, where are you at in that journey? Have you talked to lenders? Have you, you know, went to networking events? Are you looking at deals? Have you ran numbers? You know, and you can come here and be green, you know, not know any of this stuff, just have you know strong enough why. Um and after a conversation, it's all about just taking those little actions. So, you know, yeah, typically we're diving into lenders, it's kind of the first step, right? You know, let's get connected with people. Real estate's a relationship game. You know, I'm sure you've seen that. Um 100%. But I would say where I'm seeing that difference is the people, you know, after having that conversation, whether it's with me, you, or you know, whoever, whoever you're talking about real estate with, you know, after you have these conversations, don't let it die there. Um, move that needle along, you know, make another phone call. Um, read another book. Do you gotta keep moving it forward because otherwise, you know, if it's just an idea and there's no action, it's just gonna stay an idea. It's just gonna die off.
SPEAKER_00:No, 100%. And I think I think it perfectly branches in, Connor, to a piece that we definitely both wanted to talk about on here, and that is the networking piece. And personally, right, you know this about me. I was not a fan at all uh of like of these networking groups. Um, I I probably had a poor experience uh in college, was in a in a real estate club, uh much different, right? It's it's commercial uh acquisitions and and stuff like that. We were talking about um in this real estate club, but it didn't nothing felt uh very productive and got up from down in Madison to some of the networking events we have here in northeastern Wisconsin, and I think everyone I have hired, or at least the first five, six people I've hired to do work on my property has been, you know, through meeting them at a networking event. Uh so the power of those, right? It can be a drag to spend, you know, a weeknight instead of spending time with family uh finding a sitter and going to these events. Um that can be, you know, one of the most difficult decisions to make. Uh, but the impact I've seen it make on my own business and so many others is, you know, it is probably the biggest needle mover in this. And then I would assume you would say something similar here.
SPEAKER_01:Oh, I would 100% agree. Um, I mean, the true power is is you're getting that firsthand experience. You're talking to people that are doing it every day. Let's say you're not to a point where you're ready to, you know, put your own money into it, get your first deal, right? Um, this is a great chance to get that hands-on experience without actually you know investing your own capital, right? Yeah, you're getting tuition for free here. Yeah. Um, you don't you might have to pay a little bit to get into the networking for that, but it's pretty much free. Yeah. Um, but with that being said, you know, it's the same thing, you know, about moving the needle, right? You can show up to these networking events and kind of just hide in the corner, right? And yes, you're gonna get some knowledge, but basically you might as well stay home and and read a book, watch the podcast. The true power isn't, you know, if there is a panel, right? Um, it's not listening to that. Yes, those are great, those are awesome. Um, but the true power is the connections in those networking events. How many times have you gone and talked to one guy and you know, our woman, right? Um, talk to a person, and then you get more contact. It's a spider web effect.
SPEAKER_00:Um, oh, 100%. And so many of them are connected, right? The people that you're being referred to are also folks who are actively making the choice to come to these events, you know, take time out of their weeknights to come to these events, uh, which I think you're finding the best of the best. And that that leads me to some of the other events that we have around here in northeastern Wisconsin, and that is the caffeine and cash flows, right? These are intentionally put in the middle of a work day, right? So the folks that are showing up to these events um are definitely dedicated to you know investing in real estate. So you're talking to some of the best of the best, um, guys who are are very serious, um, guys and gals that are very serious about um investing in real estate. So I think going to those is still, it will continue to be one of the most underrated things. It's so easy to you know think of uh the the access that we have on the internet now um to just you know rely on that and fall back to that. It is so much more convenient, I agree. Um, but there's so much left out of you know human contact when it comes to you know moving the needle here.
SPEAKER_01:So yeah. Um just to um you know go further into depth on that too. Um if you're new, right, and you go to these networking, sometimes you feel like you have no value, right? Um, what was that like when you first got into it? I know you've been doing it for a little bit now. Do you remember what that felt like and how you kind of you know, where'd you provide your value? Because I know in my episode I talked about it a little bit.
SPEAKER_00:Yeah, I don't think back. It's been it's been a minute. I mean, going back to what I had said though, I was so like, I I don't want to be here. Like I didn't I didn't see the value in it at first. So for me, it was a slow learning curve to when I finally made the realization that the folks that I was talking to at the folks that I had met at these events were the ones that I was hiring to, you know, either you know, do a project or or do you know some sort of rehab on a property, or that I would call for advice on on something I had going on. Once I made that connection, I was like, wait, everyone that I've been calling, I've been meeting at these events, that's when I was like, oh wow, this this really is is doing something for me. So um what were you saying uh the last time you you had talked to Corey about it?
SPEAKER_01:Yeah, so for me, it was you know, especially being new, right? Talking to these, you know, some of these people who are buying you know multiple deals a month or a year, right? They're doing it day over day, they have a whole system in place, and then here comes you know, just a fresh little kid out of the house like, hey, I want to get into real estate. Um, but just like asking the questions, not being afraid, you know, being vulnerable and asking questions. Um, I truly don't think there's ever a dumb question. Um and if someone is you know taking something and telling you you're dumb, like that's not someone you want to network with, that's not someone you want to work with anyway, and just you know, cut the ties there. Um but I feel like all the people I've met, I've never really ran into you know too many bad eggs at these events. Uh I feel like our community, especially you know, in northeast Wisconsin, is you know very uplifting, willing to help. You know, there's enough deals to go around. Um yeah.
SPEAKER_00:I don't know if you can kind of I I couldn't agree more. And branching into that, just our our network base as a whole, going outside of you know who's actually at these events, we have in in Wisconsin, we have some of the best financing options, some of the best community banks, um, which at first I had taken for granted. I was like, you know, as I got into it, I got my start here in in Green Bay area. And that's just how I thought, you know, a lot of lending practice practices were uh across the the country. Same with property management. Um, and what I've learned is some of the community banks we have, um, the the hard money lending options we have, right? Uh shout out to to Good Faith Funding being one of them, um, others out there too that are great. Uh, but that doesn't exist in other areas of the country. Going to property management, um, we have so many options for it and so many affordable options for it, which is another piece of this network, right? We're talking very specific now here to northeastern Wisconsin, but I lived in Milwaukee for I just moved here a couple days ago, right? So I lived in Milwaukee for years, all my properties up in Green Bay, uh, and it was no stress at all. It would have been harder for me to manage properties down where I was living, um, just because of the network we have here. So investing remotely is something that's definitely doable here because of this amazing uh network that we have.
SPEAKER_01:So yeah, no, well, you said two things there that actually, you know, are other hurdles that I've heard on calls that I really want to get into. Um, you know, you mentioned being a Milwaukee buying deals in Green Bay. So I feel like that is another thing I hear all the time. You know, people we go back, let's tie this all together right here. You know, we're defining our buy box. Um, you know, people are very definitive sometimes, which is great, but when does that become a problem? And you know, now my buy box is so small that I can't find a deal. You know, how was that, you know, buying deals that were an hour and a half away from you?
SPEAKER_00:Yeah, there it right. The buy box is such a gray area, and I think it's always good to talk over your buy box with someone else because you could so easily fall into the trap of uh twisting, tangling your buy box up to just keep yourself safe from buying a deal, right? That can be your excuse, uh, is your buy box. So um I think the the best practice around there, this is gonna answer your question uh as a whole, but the best practice is if I create my buy box and I go a month looking for deals everywhere and I'm not finding anything that right, no deal is fitting my buy box, it's probably time to sit down and you know look that over again. If the numbers are never working, um there's probably a reason for that, and it might be uh within how you drew that up. Uh, and then that's a good time to revisit. So no, that's awesome.
SPEAKER_01:Um, and you were mentioning, you know, lending options, especially at networking events. You've been saying there's a lot of great options. Um, something I hear on the new buyer side, and I'm wondering, you know, if you hear anything similar, but people are you know always saying they they need a lot of cash to get started. Do you and obviously there's two sides, it's gonna tie back to your goals, right? Um, but what what would you say to someone that's like, hey, I I want to get into this, I just have no cash. I I can't put 20% down on a house. Like, we have a bunch of you know different lending options, obviously. We've talked about those a hundred times, but um, how do you get past that fear, I guess, of you know not being traditional with your ways?
SPEAKER_00:Yeah, it's this is such a funny one, and it's it's made me kind of realize that the financing side of real estate is more of a mindset than anything. I've seen you know some of very consistent uh investors, right? They're buying you know five plus deals a year or five plus flips, rentals, whatever it is, and they're you know, very, very rarely uh do they have much of their own money into these deals. You know, their risk tolerance might be a little bit higher, but then I'll have another conversation uh with someone who you know they are financially in a great spot, but their risk tolerance um is much higher, or their fear of of what that looks like. The best way to start is just to start talking to these lenders, lay out your situation. Um, it's it's like an interview almost, as you're talking to a lot of of these commercial banks, but you can You know, give them your backstory first. Here's where I'm trying to go. Here's what I got. Um how how can we work together to make this work, right? And if you don't have those conversations with lenders, you're never gonna make a step forward there. So it's just then once you open your eyes to, oh my God, I have this, I only need X amount down. They're gonna fund, you know, we have some lenders here, Northeastern Wisconsin, that will go up to 80% of the ARV and cover the whole purchase price. That exists right right now. And once you're like, wow, I have this in writing in front of me, that gives you so much confidence to go out and actually put bids on properties and actually, you know, start making uh steps forward.
SPEAKER_01:Yeah, and then for you, and we were talking about this a little bit before we got rolling here. Um, you actually ended up partnering with your brothers to get started. Is that that's the route you went? Was that a cash thing, or was that just you know, confidence thing? I guess yeah. Where did that decision come into play?
SPEAKER_00:That came in, right? We had talked about it for a while, really close with with my brothers. So it was for me, I was still in college, so definitely a cash thing for me being in college. Uh, I needed some some uh some help on that end. Uh but right there's there's pros and cons to it. A huge pro for me is I deal with a lot of the numbers. I find a lot of the deals for for my brothers. One of my brothers is all the work on the properties, uh, the other one um does the management. So it's a perfect team. Now, on the other side of it, right, is one of the biggest things uh in real estate is appreciation. I talked about it a lot last week on on the podcast, and now I'm only getting one third of the appreciation on these deals. So there's pros and cons, but to get started, I was not confident enough to do it on my own. I wouldn't have made a step. I I would there's a good chance I would still be sitting here um without any deals if I had not, you know, had my brothers to help, you know. Oh, I'm doing it with them. It it took a lot of the scarcity away. So starting um with a partner is better than not starting at all, in my opinion.
SPEAKER_01:And you can do this, you know, you did it with your brothers, right? So you kind of already had that foundation built. Um, but that kind of ties back to the networking then too. If if it sounded like confidence was kind of your thing and you put a team around you, and that gave you that final push that you needed. Yeah. Yeah.
SPEAKER_00:Okay. And I've talked to I just had a conversation with uh an investor last week. I I hear this a lot where it'll be it'll be someone very, very qualified, but they just they have that same, they're like, I'm not ready. I don't know enough to jump in on my own, and they're looking for a partner to do it with them, just to take you know some of that risk away. And for me, it was you know, taking some of that risk away. Um so that that exists, and where's a great place to find those people at networking events, right? Not to to to keep plugging that, but um, no, all the time you hear folks talking about the the power of partnerships, and there's pros and cons to it, of course, like anything. Um, but for me, I I could honestly say it, I have no idea if I would be, you know, at a point where I'm buying properties consistently if I didn't start with uh a partner.
SPEAKER_01:So yeah. Um, so we talked, I feel like majority of this so far has been, you know, a lot of objections and hurdles, you know, especially tailored towards those newer investors, right? What are you seeing on your end of things? Because, you know, just to kind of reiterate, I'm you know, more most of my conversations are with people trying to get into the game, you know, just starting out. Yeah, you're more hands-on, you're talking to investors that are are doing it quite a bit, if I'm not mistaken. Um, what does that side of the conversation look like for you? Is it what kind of hurdles are they overcoming at this point?
SPEAKER_00:Yeah, once they've done a few, um, you know, and and Connor, I'm talking to guys too who are, you know, maybe they're a deal in. Um, so it's still it's still pretty fresh uh for those guys too. Um, but uh that hurdle, it it always changes. Um what I'm seeing right now is a lot of folks who just I can't make the numbers work right now, you know, especially the folks who might have um seen some really good times in the past couple years, you know, their expectations of higher cash flow, right? Those those deals aren't gonna work as much in the market we're in, and that's just the fact of the matter. Um so one of the huge ones I'm seeing right now is just I can't make the numbers work on anything. And I just talked to I talked to someone this morning who they active real estate investor, haven't bought a deal in about two years. Um, and they're just they can't make the numbers work. It's not like they're doing anything wrong, it's just they haven't sat down and reconsidered, you know, what is the market calling for right now? What should my expectations be? You know, why does this still make sense? And I did talk about this a lot last week, uh, so I'll keep it shorter here. But going back to on your side of things, Connor, um, what do you see for common objections for some of the newer guys? Maybe we covered a lot of these already, but is there anything you would add there?
SPEAKER_01:Yeah, I mean, so we kind of dove into it, right? With um, you know, defining the buy box, I think a huge one for people, you know, figuring out what that perfect deal is for them, which I know we we covered a lot already. But with that being said, you know, when do you take into consideration you know the market in the play here? Um, you know, like you said, the market is shifting. So do you how do you tie that back to your goals, right? Um, do you have any because has your buy box changed at all in the last because what have you been doing? This three, four years now?
SPEAKER_00:Yeah, yeah. Buy box, you're your I wouldn't say your buy box as much as your big goal changes too, right? My big goal change, like you got to sit down and and look at that every six months or so. Um, because your goals are gonna change, right? Before getting married, my goals are different than now, and now I'm married, right? So so things change. Um and yeah, into the market we're in now, right? What I'm personally seeing is I think we're gonna lose a lot of competition on the and for other investors, uh, just because you know, cash flow isn't as strong as it as it used to be. And some people are not gonna adapt to not cash flowing, you know, three, four hundred bucks a door. Uh, some folks won't, and that's gonna create some more opportunity for us. Uh, so for me, it's like, hey, if I can get into something and do the burr process, pull a lot of my cash out, um, and then at least break even on the uh cash flow, I'm I'm a happy camper because that is just gonna appreciate year over year. I'm using leverage um to accelerate my appreciation, right? Instead of my 5% return on appreciation, it's 25%. So um just going back to the basics of why am I doing this in the first place? And for me, it's all long-term um wealth building.
SPEAKER_01:So awesome. Um, the other thing I hear, right? So I know we talked about the perfect deal, right? Um and you probably see this more than I do, right? Um, you know, what is it like talking to these people that are buying deals? You know, are they going for that home run? Are they stacking base hits? Do you see um you know any pros and cons on those two sides of investing, right? I mean, there's people waiting for that perfect deal that you get you know, X amount of money on. You know, what's what's your advice for something if someone's trying to build their portfolio faster?
SPEAKER_00:Yeah, the common theme of all of it is the most consistent, successful investors that I'll talk to, all of them across the board. There is there's not really an exception that I've seen so far. They will not use like the oh the current market, as that won't be the excuse for not buying. Something would be, hey, based on you know my personal life right now, you know, maybe right now is not the best time for me to buy. They might take some breaks, but it is never like, hey, the market's not looking, you know, too great right now, so I'm gonna wait. Um, that is something the most successful investors have have never heard that um before. So what about on your side of things?
SPEAKER_01:Um for me, I mean, so a lot of these people that are first getting into it, they're looking for that home run deal, right? Yeah, you know, they're looking for that deal that was gonna just launch, you know, launch them from point zero to, you know, let's get my next deal right away. Um, so you know, it's just it and it's all gonna always tie back to what your goals are, right? Yeah, um, but sometimes, you know, taking that base hit and taking, you know, stacking those, right? And you know, it might be a couple deals before you get you know that home run deal, right? But like it goes back to that imperfect action, right? You're gonna get tuition during these deals.
SPEAKER_00:Yeah, so I guess you know it's gonna there's gonna be parts of this, right, that suck at the beginning. And I think going back to the the guys who've been doing it for a while, right? They know it sucks. They still right. There's you know, investors that buy, you know, tons of deals every year, and they still have one or two a year that they get burned on, even though they've been doing this forever. It's like, oh well, you live and you learn. I wouldn't have if I wouldn't have taken you know the 10 chances I did, I wouldn't have had my eight wins, right? Yep. Uh so that that happens across the board. Like it's not real estate's free money, it's real estate investing for a reason. So I think that is uh, you know, you gotta be okay with that when you're getting started. That it could be a tuition. Um it you might not be you might not get the home run to start, but as we both talked about, uh the biggest needle mover is just starting somewhere, just doing something is huge.
SPEAKER_01:So yeah. Uh another hurdle, and I I'm curious to see what your side of things are on this as well. You know, people starting to build their portfolio, right? Um, so I talked to a lot of people that, you know, they got a couple deals under their belt, um, you know, might be house hacking, might just done a flip or two. Um, but mainly people that have one or two rentals and are are looking for more deal flow, right? So they they might have been working primarily on MLS, got a few deals from people they know, maybe from some wholesalers as well. Um, but what does it look like, you know, trying to build that portfolio and you know getting the right mindset on that side of things? Because people are trying to protect what they built sometimes too. Yeah, and you almost get overly cautious after you've already done it a few times. You're like, whoa, whoa, whoa, things have been going good. Yeah, I don't want to mess it up. So um, can you speak a little bit? Have you ran into that as well? Or is that just something I'm seeing, you know, yeah.
SPEAKER_00:I I haven't seen as much of that. I'd be curious to to, and maybe if you explain further, maybe an example of what you've seen. Um, because I haven't seen too much of that. I guess what have you seen in that?
SPEAKER_01:Yeah, I I've just talked to talked to a few people. I mean, it's not a crazy handful, but it's it's been enough where I wanted to bring it up. Um, you know, they might have got a couple deals off the MLS, and you know, it worked out well, right? There's still good deals to be found on the MLS. You know, you just gotta search for them, you know, or you know, let's say, you know, they got a deal from a family member, you know, got a good deal on it, and now all of a sudden they kind of launched this little um, you know, created that little itch, you know, to get more, right? Yeah, um, but now they're at a point where like they've kind of done it, maybe they just don't have the comfortable with they're not quite comfortable with it. So now they've had a point where they have one or two properties, right? And they've maybe not done it, you know, enough still, and maybe that's where you know they're kind of holding back, but there's just a fear like, hey, I already have a few properties, it's going well. I want to scale, but how do I do that? You know, smart. So I guess it'd be more on like the system building side of things, I think where their issues are coming in. And it's almost a fear of losing what they've already created.
SPEAKER_00:Yeah, and that's where I think something that Corey again on this podcast has talked a lot about, um, and he's a master at it, is building your team, not trying to be, you know, uh run the show just on your own. Uh, and that's where, you know, finding someone who when you're analyzing these deals, right? Who's your guy that you're gonna call to, you know, look this over for you, give you a rehab budget, or who are the couple of guys to do that. Um, and when you build build your team that way, uh it gives you a lot more confidence um to go forward when you're not relying solely on yourself. Um, I think that's another place that if if you're seeing that more often, and maybe this is something I've been blind to, maybe it's been happening and I just haven't seen it, um, is hey, having a partner. Right? Some of some of the guys who are you know doing 10 plus deals a year, they're doing these all with partners. Multiple guys that I talk to um are doing it with a partner, whether it's you know their spouse or someone else, a lot of them, it's you know, just a buddy or something like that, someone that they've met over the years uh that they're investing with. So that can take away some of the risk too and uh make it easier to get it get it rolling.
SPEAKER_01:Yeah. No, that that's a good point. Now that I've kind of talked to you out loud and through with with you, it's just funny because I realize it's it's probably the system thing more than anything, more than you know, lack of confidence. Um I guess it's it's different from having one or two properties, right? You know, you might be managing those yourself. Um, you might have someone else be doing like doing it for you, but you know, as you start to build, you're gonna have to shift how you do it.
SPEAKER_00:Yeah, yeah, yeah. 100%. 100%. Well, Connor, I think we can probably wrap things up here. Um I don't think unless you have anything else uh that you wanted to cover here, I think we we've covered a lot. I think the the basis, uh, in my opinion, kind of to summarize everything we've talked about, is taking action over not taking action is going to be your most important piece. And if you're still in that analysis, you know, paralysis spot, at least start going to networking events and start exposing yourself to that. Um, because I I know firsthand and through a lot of stories that I've heard uh that can be.
