At a closing the other day I saw something really stupid. I watched a new investor turn into a jackass right in front of my eyes in the closing attorney's office. I could swear he had big ears pop out of his head and a long tail shoot out. Really, he just transformed into a living breathing jackass.
This investor let his attorney know only at the time of the closing that he wanted to assign a contract on a deal. Basically, the folks at the office thought he was going to buy the property and the attorney had everything set up for that. So he had to go back and change all the documents (for a title attorney that is double working). Well, if you know the details of that kind of transaction, you can understand why the attorney was pissed.
When the attorney said he was going to charge the guy for redoing the work, the guy went absolutely crazy. He was talking about all the money the attorney makes for such easy work, about being a customer (who is always right?) and bringing the attorney plenty of business, and so on. He was convinced that he should not have to pay for a tiny mistake like that
What a jackass! It was definitely his fault that the attorney had to double work. Anyway, the attorney let it slide... but can you imagine what the office talk about that investor was after he left? Talk about a reputation killer!
Listen, I certainly would be pissed if I had to double work on something, even if it only took me an hour. And when I'm wholesaling a deal and making 10k for an hours' worth of work, I think I deserve the pay because I have the knowledge to put the deal together. Just like the attorneys should be highly paid for the education that they have to go through to become what they are.
Here are two points I want you to get out of the situation I witnessed that day.
1. Make sure you take care of your attorney: let them know the details of what you are trying to do right up front - and on every deal - so they don't have to do double work. It saves time, but it also shows respect for the attorney. If you treat them right, the attorney will become one of your best friends in the business.
Besides, you never know, your attorney may become a private money lender to you. I know, as I have borrowed money from an attorney that I used before. Remember, a lot of attorneys have money and they can be a great source of private funds or refer you to other people with money they know. So the first point is: DO NOT PISS OFF THE TITLE ATTORNEY - YOU NEED THEM!
2. Understand that if you are wholesaling real estate (once you learn how), you will be one of the highest paid people per hour around. I am talking more than doctors and lawyers. Yes, most of the attorneys I use make a lot of money, but on a per hour basis I blow them away. I mean, when you do your first deal for 5k and it only takes you an hour's worth of your time, then you will know what I am talking about. If you are a seasoned investor, then you know the feeling and it is OH SO SWEET!
So, knowing that you are highly paid, BE SURE TO RESPECT EVERYONE ELSE'S TIME! Overall point: Don't be a jackass! Be bold, but NICE. - 15224
This investor let his attorney know only at the time of the closing that he wanted to assign a contract on a deal. Basically, the folks at the office thought he was going to buy the property and the attorney had everything set up for that. So he had to go back and change all the documents (for a title attorney that is double working). Well, if you know the details of that kind of transaction, you can understand why the attorney was pissed.
When the attorney said he was going to charge the guy for redoing the work, the guy went absolutely crazy. He was talking about all the money the attorney makes for such easy work, about being a customer (who is always right?) and bringing the attorney plenty of business, and so on. He was convinced that he should not have to pay for a tiny mistake like that
What a jackass! It was definitely his fault that the attorney had to double work. Anyway, the attorney let it slide... but can you imagine what the office talk about that investor was after he left? Talk about a reputation killer!
Listen, I certainly would be pissed if I had to double work on something, even if it only took me an hour. And when I'm wholesaling a deal and making 10k for an hours' worth of work, I think I deserve the pay because I have the knowledge to put the deal together. Just like the attorneys should be highly paid for the education that they have to go through to become what they are.
Here are two points I want you to get out of the situation I witnessed that day.
1. Make sure you take care of your attorney: let them know the details of what you are trying to do right up front - and on every deal - so they don't have to do double work. It saves time, but it also shows respect for the attorney. If you treat them right, the attorney will become one of your best friends in the business.
Besides, you never know, your attorney may become a private money lender to you. I know, as I have borrowed money from an attorney that I used before. Remember, a lot of attorneys have money and they can be a great source of private funds or refer you to other people with money they know. So the first point is: DO NOT PISS OFF THE TITLE ATTORNEY - YOU NEED THEM!
2. Understand that if you are wholesaling real estate (once you learn how), you will be one of the highest paid people per hour around. I am talking more than doctors and lawyers. Yes, most of the attorneys I use make a lot of money, but on a per hour basis I blow them away. I mean, when you do your first deal for 5k and it only takes you an hour's worth of your time, then you will know what I am talking about. If you are a seasoned investor, then you know the feeling and it is OH SO SWEET!
So, knowing that you are highly paid, BE SURE TO RESPECT EVERYONE ELSE'S TIME! Overall point: Don't be a jackass! Be bold, but NICE. - 15224
About the Author:
About the author: Jesse Davis is an experienced wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today's market. Go here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today
