One of the most difficult real estate transactions to finance these days is the purchase of a historic home. Historic homes often have intrinsic value, tied to their position as "luxury" homes in most real estate markets. And
historic homes "create jobs" (an expression that makes no sense to me).
So, to help out...
One of my business associates and I have offered three different
real estate
partnerships the opportunity to finance sales of historic properties and share
the profits 50-50. (You have to know where the money is.)
Mind you, this program costs these people nothing. We do all the work. And
here is no risk to the business' reputation or financial situation. We explained
how we take it very slowly to explain each step and at any time they, their
client, the buyer, the seller (anyone involved) can get out of the deal...
No questions asked.
We are here to discuss the fine points, offer full disclosure, and even walk their clients through (with their agent) step-by-step. And yet each of them is "so busy" attending their businesses. Dumb.
There's a lesson in all this. And one which I'm about to execute. When you have an idea that's good, even if it makes money for everyone, if nobody jumps in... it's not a business. Others are entering this process, and we are using the strategy successfully elsewhere. But I'll bet each reader a buck that you will hear realtors complaining that they can't get financing for their customers. Just isn't true. They don't know and they won't adapt.
One of my business associates and I have offered three different
We are here to discuss the fine points, offer full disclosure, and even walk their clients through (with their agent) step-by-step. And yet each of them is "so busy" attending their businesses. Dumb.
There's a lesson in all this. And one which I'm about to execute. When you have an idea that's good, even if it makes money for everyone, if nobody jumps in... it's not a business. Others are entering this process, and we are using the strategy successfully elsewhere. But I'll bet each reader a buck that you will hear realtors complaining that they can't get financing for their customers. Just isn't true. They don't know and they won't adapt.
And now you know the rest of the story... It's not a fault and it's not stupidity. In fact, I believe many of them will come around. The realtors, like a lot of American business people these days, aren't accustomed to acting decisively.
I'll be talking about this a lot more as we head toward the Source II Summit and Think Tank in October. YOU will make the money others leave on the table.
Best,
Rob
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