Most hungry investors hate it when their deal flow dries up.
Whether the investor has recently tapped into some private capital or gradually saved his paychecks, you can almost feel his frustration when confronted with a sparse buffet of investment opportunities …
“What? You mean to tell me that this is the best I’m gonna get for a little while? You’ve got to be kidding!”
But despite the frustrating nature of such circumstances, these occasional “dry spells” are inevitable for any dealmaker who sticks around our industry for long enough – and it is good to prepare yourself accordingly.
Otherwise, you will be tempted to do something rash (at best) or catastrophic (at worst) when your itchy trigger finger gets the best of you.
That’s why we reached-out to Justin Lee for teaching today’s lesson about “Deals You Shouldn’t Do” – because he knows from personal experience the importance of staying sharp during lean times.
Specifically, Justin’s recent experience with lackluster deal flow in San Diego provided a great opportunity for him to appreciate the benefits of a well-rehearsed dealmaking policy in such a worst case scenario.
Justin Lee Knows Which Deals You Shouldn’t Do
Justin is one of the coolest, multi-taskers we’ve ever had the pleasure of working with here at Mogul. Here’s what I mean…
Even in the midst of running several challenging businesses simultaneously, Justin is able to do so without letting those businesses own him. He’s not just a real estate guy; he’s also a savvy business-builder who has cracked the code to successful, profitable real estate investing across the domestic U.S. – all while living on foreign soil.
As you might imagine, Justin knows a thing or two about deal evaluations of many kinds (even beyond the real estate industry), and he doesn’t allow himself to get carried away in the heat of the moment. This is a big reason why we were interested in using today’s lesson to explore Justin’s highly practical insights about disciplined self-restraint in light of bad deals.
Of course, Justin’s previous lessons have provided numerous other helpful insights, primarily regarding the beauty of outsourcing your investing business to capable interns and virtual assistants:
Against this informative backdrop, we suspected that Justin would have plenty of veteran advice for anybody in our industry who wants to maximize their dealmaking prowess…
…and we were correct!
Accordingly, today's lesson is perfect for any real estate investor who wishes to (i) weather the storm of dealmaking dry spell by saying “no” to bad deals while (ii) simultaneously maintaining the financial and logistical wherewithal to say “yes” when a good deal eventually reveals itself.
Specifically, you'll learn:
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How poor dealflow recently stalled Justin’s operations in San Diego
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Why a veteran investor is willing to turn down certain profitable deals
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What it looks like when a veteran investor effectively sits on his hands
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How to say “no” in a way that best equips you to eventually say “yes”
So check-out the following video for all of Justin’s informative and encouraging insights about handling the deals you shouldn’t do!
Justin Lee Explains the Deals You Shouldn’t Do…
{Mogul Elite: Download a transcript and MP3 of this lesson in the Power Pack tools for this lesson.}
Justin Lee
has been a full time real estate investor since 2003 when he flipped his first property. Since then he's gone on to do over $25 Million worth of real estate deals in his own personal portfolio. Although he invests primarily in the United States, he's closed the majority of his investing while living outside of the USA in his hometown of Vancouver, BC, or while traveling in Europe or Central America. Unlike strategies that don't work in today's market, Justin's been able to figure out what works in real estate, and has a keen understanding for what it takes to invest in more expensive markets like San Diego, CA and Washington, DC. In 2008 Justin hired his first interns to help him with his real estate and online marketing companies. Since then, he's helped thousands of entrepreneurs work less, make more, and provide mentorship to the next generation of entrepreneurs through the power of an internship. Justin currently lives in Vancouver, BC with his wife Dreama and children Stella & Sebastian and enjoys being a husband, father, snowboarder, sports fan and real estate investor. He also enjoys providing mentorship to future entreprenuers through his unique internship programs which allow him to get more done and work less than ever before.