Real Estate Investor / Guide

News

My firm belief is that the more info I share, the more value I give.

"Share the wealth" they say...

I see dozens of post a day all over the internet from "newbs" looking for a deal. I see "wholesalers" expanding their reach and growing in mass. I see groups/clubs/forums/meetups all the time chalk full of claims "I just need to find a deal". 

People are willing to pay thousands a year for "easy" ways to find properties. Yet...I talk to people every single day who need help with their property, who are willing to share the wealth. I used to spend a lot of time trying to connect people w/ deals; just to "take care" of the person looking to me for help. Not even with the deal packaged, a simple make ready needed, and the subs all in place would people just do it w/out making it difficult. They'd want more, or try to play games with the numbers, refuse to provide docs, go MIA for days, etc. Now I get people wanting to pay me to "mentor" them and either pay me upfront or partner. I am okay with that, but then I feel like a business and not a partner. But, if I post that I am looking to JV on a deal that makes a partner 6%min free and clear on a 100k note...I get nothing. It seems the amount of people wanting you to invest your time and money into them, who are not willing or able to do anything to return favors, is growing in mass.

I used to think trades where the biggest issue I would face; luckily I have learned to manage them and am very rarely taken by surprise. They still get 1st place for making it difficult to "share the wealth" with. If more took ownership of their work/behavior they would be far wealthier and happier. Its a tough lesson, and hard to swallow as true for some.

Hence, I GC my own projects because I was a GC for 20yrs. I rarely partner or JV on my deals, not for lack of profit, or greed, but lack of desire to convince someone or figure out if they are capable of the promises they claim to bring. Truth be told, I do enjoy the physical work too. I like that I have more pants w/ paint than pants w/out.

In the end though, the great relationships I have been build on trust and integrity, and we have common “war stories” that make us value one another.

Jeph Burnett