Rookie Mistake I am seeing lately
I saw several posts recently on this topic and I wanted to share my 2 cents which I think many will probably disagree with me on.
Saw several posts of investors with little experience and little cash have deals and are looking for partners or someone to assist with the deal. In these posts I comment that whoever comes in is going to want to take a large portion of the deal as they are taking on the risk as its a sweat equity vs cash equity play.
The responses have been to the tune of "not enough meat on the bone"...
This is the mistake I see, for me when I got started in growing my note business, I was giving up more to my partners than anyone else in the industry and was perfectly fine with it. The reason being is I was in it for the long haul and if I could work with 10 then 20 then 30 people who then said "Chris was great to work with and did X, Y,Z" let me in on a little secret - having a good reputation will get you places.
It seems today people want the instant money (because the gurus preach it), all the upside and little risk.
If people looked throught the lens of real estate is the long game and were focused on building a track record, it would get them much further much quicker, but in order to do so, you have to give something up.
- Chris Seveney
