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…)
Not Having a Written Plan for Your Investment Business
Posted by in Business | Investment | Planning | Real Estate - (0 Comments)
You’ve likely heard about the study of Harvard and Yale graduate students: Over the course of 30 years, 3 percent of the students in the study financially outperformed the other 97 percent because they had written plans and goals. (more…)
Starting Your Real Estate Investment Business (3)
Posted by in Business | Investment | Property | Real Estate - (0 Comments)
I’ve wholesaled more than 200 properties in the past three years, 80 percent of them to one person. You can flip a house to someone once and make $12,000, or you can flip a similar house for a $9,000 profit to a person who’s likely to buy five from you every year for the next 20 years. (more…)