10XXXX What You D0

Recently went back through podcasts and listened to Grant Cardone and his 10X.  Bought his book and also purchased his notebook.  I have always tried to stay out in front of larger deals.  My theory is that if you aren't scared then you aren't working on something big enough. 

What is the largest deal that you have worked on?

I have worked on $20,000,000 deals.  Have I ever closed one? Not yet, but I won't be afraid of doing one.  Why? Because I have learned on every one that I have tried to do.

You have to decide to look at it and then figure it out.  What would it take, what skill sets can I bring to the table, who do I know that can give me a leg up on the deal. How would I attract the money needed and what team do I have to put together?

Take a yellow pad and sketch out your vision.  Even if you don't make an offer or go any further than the yellow pad, do it to learn.  Talk to those that have done something bigger than your comfort level.  Ask them for help.  I have found that if you ask for someone's help, they are flattered and all would like to help you out.  They are not your competition, they may be your market.  

I recently put a contract on a three million dollar deal.  It was a sale leaseback and I worked the deal with a much higher lease rate than they would want to pay.  They are an R&D company and need their money for research, not real estate.  Went to raise the money and had about 1/2 committed for and an investor came and looked at our presentation. He was quiet for about 10 minutes and said,"I don't want to be your partner, I want your deal."  We negotiated an assignment of the contract and we walked away happy.

Ran into a lady who is in her 80's and she has several hundred houses in our market.  What would you do?  Walk away because it is to big a deal?  Just figure it out.  We are going to put all under a contract to close over a six month period of time.  Some we will keep as rentals, some fix and flip and some will be wholesaled out.

Big deals are just like little deals when you figure them out.