Learning from past experiences and mistakes can make us better entrepreneurs.
Today's guest is Charles Seaman-Managing Member and Senior Acquisitions Manager of Three Oaks Management, LLC. Charles has found his success from applying lessons learned from past experiences to improve is business.
As entrepreneurs, we are guaranteed to make mistakes along our journey. Learning from those mistakes only makes us smarter and better investors. Charles faced his own mistakes and leveraged those experiences to make him a smarter operator.
Not selecting a target market was his first challenge to overcome. He began his deal search across multiple states and markets which delayed his ability to establish his footprint in a target market.
Not building relationships with deal sponsors and investors early on was the next big challenge Charles and his team faced. Not having those relationships in advance led him to miss out on potential opportunities.
The lack of a targeted investor database was the last big challenge Charles faced. Even though he had a network comprised of real estate investors, he didn't have the right investors willing to invest with him.
Charles took those lessons learned and improved his business by:
1. Selecting one target market-Charlotte, NC and stayed focused only on that market
2. Began developing and nurturing relationships with both sponsor and investors in preparation for future opportunities.
3. Assigning specific roles of the business between he and his partners to improve each aspect of their business.
Stay focused, stay consistent, and stay motivated!
To connect with Charles, connect with him on LinkedIn and Bigger Pockets @charlesseaman or contact him at 347-306-3278!
Tune in next time!
