Monday, February 9, 2009

Real Estate - One Step Forward & Three Back

Wow what a weekend. I am glad to be back to work (like I take the weekend off). One of the many things I have learned in running our real estate company is that things change on a dime and you just have to be ready for them. Some days it is "One step forward and two or three steps back" That is what happen this past weekend.

We have a great property we have an offer in on that we are buying with private money cash. We have everything all set to close this coming week. Well I heard over the weekend from him that his money is not available for 2 to 3 months. Why? it really does not matter. That happens and you have to move quickly. All my plans last week for the property and what we were going to do to it are gone or at least in jeopardy. I did not get much sleep last night as I formulated what I would do this morning to resolve this challenge. That is how you need to look at it. It is a challenge that I need to over. You will get a lot of them in this business and you either fight or run. Well I have too much on the line to run so I am fighting as hard as I can. Do I need this challenge? - probably as much I need a hit in the head but I will learn from it.

So I have my plan for the day to fill this gap and I will be talking to a lot of people today to try and save this deal. This is the life of a real estate entrepreneur and I need to always be ready. This does show me that I do not have my business model completely set. If I had all the private money I needed then this would not be a big deal. That is why you need to talk to everyone you know more than once and then expand out form there.

Well I am off. I will let you know how I did tomorrow.

See Ya,

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