At a closing the other day I saw something really stupid. I watched a new investor turn into a jackass right in front of my eyes in the closing attorney's office. I could swear he had big ears pop out of his head and a long tail shoot out. Really, he just transformed into a living breathing jackass.
This investor did not let his attorney know in advance that he wanted to assign a contract on a deal he was closing on that day. Basically, the folks at the office thought he was going to buy the property and then sell it to his end buyer, or just double close the deal. The attorney had everything set up, and then he had to go back and change all the documents (for a title attorney that is double working). Well, if you know the details of that kind of transaction, you can understand why the attorney was pissed.
When the attorney said he was going to have to charge the guy for redoing the work, the guy went absolutely nuts. He started talking about all the money the attorney makes for such easy work, and that he was the customer, and that he had brought the attorney plenty of business, and so on. So he should not have to pay for a small mistake like that
What a jackass! It was definitely his fault, but the attorney let it slide. Can you imagine the office talk about that investor when he left? Talk about a reputation killer!
Listen, if you are wholesaling a deal and making 10k for an hours' worth of work, don't you think you deserve the pay you are getting because you have the knowledge to put the deal together? Just like the attorneys should be highly paid for the education that they have to go through to become what they are. I certainly would be pissed if I had to double work on something, even if it only took me an hour to do a deal.
Here are two points I want you to get out of this story.
1. Take care of your attorney. Make sure you let them know all the details - right up front and on every deal - so they don't have to re-do the work for you. It saves time; it also shows respect for the attorney. Treat them right, and the attorney will become one of your best friends in the business and will save you a lot of money.
Besides, you never know, your attorney may become a private money lender to you. I know, as I have borrowed money from an attorney that I used before. Remember, a lot of attorneys have money and they can be a great source of private funds or refer you to other people with money they know. So the first point is: DO NOT PISS OFF THE TITLE ATTORNEY - YOU NEED THEM!
2. Once you learn how to wholesale real estate, you will be one of the highest paid people per hour around. I am talking more than doctors and lawyers. Yes, most of the attorneys make a lot of money, but on a per hour basis I blow them away. When you do your first deal for 5k and it only takes you an hour's worth of your time, then you will know what I am talking about. If you are a seasoned investor, then you know the feeling.
So being yourself highly paid, BE SURE TO RESPECT EVERYONE ELSE'S TIME! Overall point: Don't be a jackass! Be bold, but NICE. - 16003
This investor did not let his attorney know in advance that he wanted to assign a contract on a deal he was closing on that day. Basically, the folks at the office thought he was going to buy the property and then sell it to his end buyer, or just double close the deal. The attorney had everything set up, and then he had to go back and change all the documents (for a title attorney that is double working). Well, if you know the details of that kind of transaction, you can understand why the attorney was pissed.
When the attorney said he was going to have to charge the guy for redoing the work, the guy went absolutely nuts. He started talking about all the money the attorney makes for such easy work, and that he was the customer, and that he had brought the attorney plenty of business, and so on. So he should not have to pay for a small mistake like that
What a jackass! It was definitely his fault, but the attorney let it slide. Can you imagine the office talk about that investor when he left? Talk about a reputation killer!
Listen, if you are wholesaling a deal and making 10k for an hours' worth of work, don't you think you deserve the pay you are getting because you have the knowledge to put the deal together? Just like the attorneys should be highly paid for the education that they have to go through to become what they are. I certainly would be pissed if I had to double work on something, even if it only took me an hour to do a deal.
Here are two points I want you to get out of this story.
1. Take care of your attorney. Make sure you let them know all the details - right up front and on every deal - so they don't have to re-do the work for you. It saves time; it also shows respect for the attorney. Treat them right, and the attorney will become one of your best friends in the business and will save you a lot of money.
Besides, you never know, your attorney may become a private money lender to you. I know, as I have borrowed money from an attorney that I used before. Remember, a lot of attorneys have money and they can be a great source of private funds or refer you to other people with money they know. So the first point is: DO NOT PISS OFF THE TITLE ATTORNEY - YOU NEED THEM!
2. Once you learn how to wholesale real estate, you will be one of the highest paid people per hour around. I am talking more than doctors and lawyers. Yes, most of the attorneys make a lot of money, but on a per hour basis I blow them away. When you do your first deal for 5k and it only takes you an hour's worth of your time, then you will know what I am talking about. If you are a seasoned investor, then you know the feeling.
So being yourself highly paid, BE SURE TO RESPECT EVERYONE ELSE'S TIME! Overall point: Don't be a jackass! Be bold, but NICE. - 16003
About the Author:
The author, Jesse Davis is an experienced wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today's market. Click here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today
