What is up with the influx of fraud and “newbie’s” in this business? As a Real estate investor and trader in the distressed real estate arena I get a ton of calls from folks looking to “deal”. They don’t have 2 nickels to rub together however have the moxy to ask me to pull a $50,000,000.00 (FIFTY MILLION!) order!
Look I am all in for someone to make a buck but have the decency to express you true position. Do not claim you’re a buyer for a 500 million dollar tranche when you don’t have a buyer in place.
There has been a few thousand dollar programs out there being sold expressing how they can turn anybody into a millionaire. In my humble opinion, it’s a waste of money. Since these programs have been released I had to hire additional staff just to weed out the tire kicking time wasters.
There’s no doubt you can do very well in this industry. BUT LEARN THE BUSINESS.
Every time I hear mandate on the phone I hang up! Stop using that term! When seasoned pro’s have thousands of people calling any guy who Google pops up as a bulk reo source the calls start pouring in….Hi I am a mandate for this guy…. And um…I want to buy 100 million.
Play your role then step out of the way.
What do I mean…..if you’re acting as an intermediary/facilitator match the parties then step back!
I have lost count of how many times deals have been lost because and “IM” didn’t want to efficiently pass info or complained they weren’t making a million dollars for passing a phone number.
To intermediaries reading this…..you’re not digging ditches. Close the deals get paid and move on to the next one. The risk of being circumvented is always present. Stop losing money for the fear of being cut out as your own fear cuts you out. In other words you are your own worst enemy. And nda is as good as the paper it’s written on.
My advice, start a record keeping book!
Right down any/all parties that are blacklisted and/or cut you out. Ethical players pay for your services without you needing to know all the details.
Gotta run. More to come.
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