About two weeks after this entrepreneur died, Bill called his widow and said, “I’m Bill. I knew your late husband. I know your son. I’m very sorry to hear about what happened. I know you have some real estate—would you like to get rid of it?” (more…)
He’s been divorced seven times and his fifth wife didn’t sign the release form, so I have to chase her down to close the deal. In contrast, a commercial buyer asks for the numbers, goes to closing in 45 days, and has the bank wire the money immediately. (more…)
Suppose I’ve got a building for sale that’s worth $5 million, and you can buy it from me for $3 million. Would you put a contract on it? Does it feel too big for you? But think about it: What’s the difference between a $500,000 deal and a $5,000,000 deal? (more…)
Expecting to Have Equal Partnerships in Your Real Estate Investment Deals
Posted by in Deal | Investment | Partnership - (0 Comments)
Keep control of your business and realize that there’s no such thing as an equal partnership. I like this saying, which I think came from Confucius: “Happy wife makes happy husband.” Here’s an example of this. (more…)
I ask if they have an infinite-return mutual fund—one I don’t have to put money into, but money keeps coming out. That’s real estate; there is no other investment that lets you do that. Think about what one extra deal is worth to you. (more…)
Say you found a property worth $80,000 and you can buy it for $60,000 because you’ve found a seller who’s motivated due to a divorce, estate sale, short sale, foreclosure, or poor maintenance. People find properties like that every day, and you can, too. (more…)