Posted by timeinvestor on October 15, 2003 at 16:08:30:
Being able to close in 5 days with all cash is huge, agreed, but it also means that you are on the hook. Agreements that are written by the investor, rather than the seller or the real estate agent will reduce your risk substantially and they do not need to be shady or sneaky, just in the investor’s interest rather than the agent or the seller’s.
Difference of opinion is fine and expected, but questioning whether I know what I’m doing or not is not very friendly. If you hear people say it all of the time, maybe there’s some truth to it. The reason that I have less liability is ‘exactly’ because I know what I’m doing. If you don’t believe that, it means that you have another way of doing things. Do you believe that there is more than one way to skin this cat? I sure do. Opinion! We all have one and the smart ones realize that another opinion is reason to explore, not a reason to contradict. After all, isn’t creativity what we are talking about anyway?
My company’s options are limited, on one hand, because we don’t use our own money and therefore “sometimes” don’t get the deal that you may get. On the other hand, we are NEVER overexposed or stretched so thin that we are only able to work on a few deals per year rather than 50 or more. Opinion is a good thing. Creativity is a good thing. Open minds are a necessity!