Besties in Real Estate for a Profit.
Imagine you and your besties doing real estate deals together and having lots of fun?
Sounds good, right?
Well… don’t expect it to happen and you will never be disappointed, ever again!
Your friends who you hang out with will be hesitant to go into business with you because their proximity and accessibility to you, so they are biased about your knowledge, experience, credibility and track record.
Believe it or not, it will be much easier to do business with strangers than with friends and family.
Friends and family are awesome for you to have fun with OUTSIDE BUSINESS.
The moment you talk MONEY, they stiff up and they will question every sentence you utter out of your mouth, every decision you make and if for any reason, things don’t work out EXACTLY how you presented the opportunity initially, they will strangle you with no merci.
You might be laughing now because you know it is true!
Avoid at all cost doing business with friends and family… and you’ll thank me later!
When you have a good opportunity, especially in real estate, there will be plenty of people you can do business with, even if they don’t know you personally… Most real-estate good deals are ASSET-based, so any investor looking for a good opportunity will jump at it in a heartbeat… so, no worries when it comes to finding a business partner or an investor stay on course.
Keep your friends and family in the place they ocupy in your heart… I say it by experience!
Out of all my 750 plus real estate deals I have done, closed and funded through the years, only less than (5) a hand-full of deals have they ever being partially funded by a friend or a family member… and they were the most stressful deals ever… because in order to get the deal done, I ignored one basic rule: “Only bring trust and confidence into a deal, never bring fear or doubt”.
They were driving me crazy because of their own fears and doubts and lack of financial education.
I learned my lesson… so never again will I break that simple rule… and I am happy to share my experience with you today.
I trust this advice serves you well now and in your future when you look for real estate partners!