OfflineMay 26th 2008
Here's something that recently happened to me - and I missed out on alot of money! Anyone ever had an experience like this before?
I recently found a pre-foreclosure in a great area of Scottsdale with over 100k of equity in it. I called an investor named Jake White that I was referred to through a mortgage broker I know, and told him about the deal. THEN I MADE A BIG MISTAKE!
I gave him the address of the proprty before we signed any contracts. He sayed "we'll be partners and I'l split the profit with you"
Listen - NEVER take anyones word for it. Unfortunately, just about everyone will burn you if you let them.
Now, I'm not suprised to find that every time I call I am directed to his voicemail after one or two rings.
I'm mad, but there's still great deals out there - and I learned an important lesson early:
DON'T DO BUSINESS WITH ANYONE WITHOUT A CONTRACT!
I am so sorry this happened to you! It's really discouraging, but like you said you learned an important lesson , and there ARE a LOT more deals out there! Just makes you want to take revenge, though. Well, your revenge will be closing on an even sweeter deal with your head held high.
Best to you,
Rina
Like Joe said, DON'T DO BUSINESS WITH ANYONE WITHOUT A CONTRACT!
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Joe I am not going to say I told you so, because you already know what needs to be done from now on. So use your contracts diligently and trust no one to keep your best interest at heart except your own
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Dont ever involve Jake White again...in any way!
Don't Wish the Past, Create the Future! - DH
This is a pearl of information that I am glad I came across!
I am far too trusting of people and I will have to train my thoughts a little differently to keep your advice front-and-foremost when dealing with Real Estate.
Deb
Yeah that was dirty, so unfair. I'll certainly take your advice. Thanks for sharing that. Cindy
cindy REI