Life of a Real Estate Investor Guest Post By Eric Shaw

So here is my story wrapped up in nutshell…

I held bunches of properties all along the Gulf Coast from Pensacola Fl to Gulf Shores Al , wholesaled, and flipped. I had workers and full time crews going around the clock.

Then in 2008 with an enormous beach front mortgage in Orange Beach along Canal Road the real estate crash came, I was driven into bankruptcy as a result of perfect storm of events.

BOOM! I have a family to support and it was incredibly debilitating emotionally and mentally. My pride was destroyed and I was obstructed because I was supposed to be Eric, the young, successful hot shot entrepreneur and now I was a failure (my thoughts at the time).

To begin with, bankruptcy was the absolute BEST thing that’s occurred to me for my personal life, and for my entrepreneurial life for a lot of motives. I ‘m 10 times as wise and sharp as I see things now with much more clarity, and once was.

See, when you get stripped down to nothing, you face extreme hardship which, subsequently, really flexes your difficulty “muscles” to their limits. That is a terrific thing because now, I will handle any scenario, regardless of how extreme…and I can continue with brains and a sharp decision making mind, instead of responding out of emotion in case a leading pipe bursts or among my properties gets vandalized and stripped of all of the copper.

Sorry for going off on a small tangent there, but I genuinely want one to know that whatever tough time you’re going through, you must realize that it is just putting another misfortune “notch” in your belt of wisdom.

What I Would Do If I Had to Start Over – I did have to start over!

Thus, when I’m interviewed on podcasts in gulf Shores, a popular query the interviewer constantly asks me is, “Eric, if you’d to do it all over again and begin at zero in property, what would you do?”

I’m constantly happy they ask that because that isn’t merely an enjoyable theory to think of…in my life that was an actual scenario.

What DID I do to immediately bounce back as a fiscally independent real estate entrepreneur?

Now you may be thinking, “Eric, I am just starting out and do not have any contacts. What about me?”

Well, I am more of a “tough love” kind of man and my answer is “GET SOME”. Sorry to be so blunt, but imagine what, I did not come out of the uterus with a network of friends and contacts in the real estate biz, I made them and nurtured them.

Before I continue with how to “get some contacts along the Gulf Coast”, I simply need to say this… URGENCY is the manager of success. I have lived it personally and steadfastly believe this. I see it with others that I discover on earth as well.

Individuals take the most actions in life with the most urgency, when they HAVE TO… The problem with many people reading this post today and wondering why they aren’t quite at where they’re at in the real estate business is that they still do not have that extreme urgency to create success.

Time flies quicker than you know… Cut that material outside for a year, hustle your brains out, and you’ll see substantial results. I assure. But you have to get urgent and that can be hard when you don’t HAVE to.

Phone local probate solicitors (or stop in with doughnuts if you really desire to stand out) and let them know how it is possible to help them. Tell them (or their secretary who is now reveling that custard filled, lovely chocolate doughnut) you could help them and their clients outside by paying a fair cash price with no eventualities.

It does work and some of my greatest bargains have already been from probate attorneys sending me deals. When you show them which you can do one successfully, they’re going to begin to refer more of them to you personally. Now you’ll actually be in the money. TRUST ME!

Another place for instantaneously linking with contacts that can help you is the local property groups. This post is not about how to find funding but creat a list you can look towards at finding the investors seller, realtors, lenders, insurance brokers. The attorney thing is sweet though and you should really add it to your arsenal because it’s VERY low competition generally in most places.

The Following Thing I did was Hound the Right Folks for Cash so I could Rehab and a Price ASAP!

But Eric, I do not understand anyone who’d lend cash to me. My solution – “FIND THEM”. Begin with your local RE group and let folks know what you’re attempting to do. Keep in touch with other professionals which you know (accountant, lawyer, physician, dentist, pals, etc.) Individuals with cash putting about are consistently looking to get a fantastic return.

LISTEN, anything is possible with the appropriate sense of urgency. PERIOD! I’ve come up from nothing TWICE so you undoubtedly can also.

Thus, After Hounding Lawyers and then Hounding Folks for Money, I did a profitable deal.

After that first deal was under my belt, I invested some of the profits into the best form of marketing (direct mail), got more wholesale and rehabilitation deals, and was quickly on my way to a full “bounce back” and fiscal independence again.

You actually can do this… I expect this place will push you back into that extreme URGENCY position where you begin to hammer out activities that may be means outside your comfort zone to get you to another degree, even if you have a couple bargains under your belt.

WOW! What a journey, but the lessons learned were priceless and I love sharing it with amazing up and coming entrepreneurs like you 🙂

You may work through each measure from there with ease when you’ve got a great deal to start with.