My Worst Investment Ever Podcast Connor Steinbrook – Do Due Diligence Before Visiting a Real Estate Property
BIO: Connor Steinbrook is the Founder of the EXP realty Wolfpack Revenue Share Organization, with more than 2,700 agents operating in all 50 states and 12 countries. The group closed almost 10,000 houses and 3.5 billion in sales in 2022.
STORY: Connor came across a house in a high-priced area that was being sold for dirt cheap. It caught his attention, and he decided to buy it. It turns out the person who sold the house to Connor had killed the homeowner and stolen his identity.
LEARNING: Always be careful when going into properties to meet strangers. Before you go to view a property, ask the right questions and do due diligence.
“Just because you wouldn’t do something or you wouldn’t think that this could happen doesn’t mean that people think the way you do and that they’re not setting you up.”
Connor Steinbrook
Guest profile
Connor Steinbrook is the Founder of the EXP realty Wolfpack Revenue Share Organization, which has more than 2,700 agents operating in all 50 states and 12 different countries. The group closed almost 10,000 houses and 3.5 billion in sales in 2022.
Worst investment ever
When Connor started in real estate, he got a regular appointment to check a property out. The property was an old house that looked like a single-family house but was built in a duplex-type way. The property was in a high price point area, and the owner asked for a very low amount that didn’t make sense. The owner was not there, and after waiting for a while, Connor decided to go home. After about 15 minutes on the highway, the owner called him, and since the numbers looked so good, he decided to go back.
Connor found the door open, and when he went in, he couldn’t believe his eyes. It was quite a rundown house. While doing a tour of the place, he had this strong intuition that there was something off about it. But he shook off the feeling and went ahead and bought the property.
About six weeks later, Connor got a phone call from a detective of a famous murder detective show in Dallas. The detective informed Connor that a resident had found a dead body at one of his properties, and he needed him for questioning.
It turns out the guy Connor had bought the rundown house from was not the actual owner. The guy had murdered the homeowner, buried him in the backyard, and stolen his identity to sell the house.
Lessons learned
- Always be careful when going into properties to meet strangers.
Andrew’s takeaways
- Things happen when you’re least prepared and least expecting it.
Actionable advice
Before you go to view a property, ask the right questions and do due diligence. When you go for the viewing, take another person with you.
Connor’s recommendations
Connor recommends several books for self-education and development:
- Think and Grow Rich
- Outwitting the Devil: The Secrets to Freedom and Success
- As A Man Thinketh
- The Richest Man in Babylon
No.1 goal for the next 12 months
Connor’s number one goal for the next 12 months is to get his EXP organization to 10,000 agents. He also wants to develop properties in North Dallas as a long-term investment plan. Connor also wants to get his new YouTube channel to 10,000 subscribers this year.
Parting words
“Believe in yourself and never stop trying. In the end, it will all work out for you.”
Connor Steinbrook
Connect with Connor Steinbrook
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- The Become a Better Investor Community
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- FVMR Investing: Quantamental Investing Across the World
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
- Achieve Your Goals