Nancy got hit with identify theft a couple of months ago and what I am about to
tell you could save you a zillion headaches and tons of money.

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I was listening to the rants of a local wholesaler who was complaining about one of his
associates “stealing” his buyers. He ranted on explaining that he had a buyer for a specific
property and the seller was this local wholesaler. The wholesaler-seller went to closing and
closed as he should have, but did a dry closing because the ranting wholesaler didn’t want him
to meet his buyer. Later the end-buyer came to the closing and dry-closed and everyone got
paid.

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I hear the following clichés all the time, and many as excuses for not doing real
estate deals:

1. “Work Smart, Not Hard” – this comes from people who usually are either
successful or utter failures. The successful ones have already worked
hard to understand the fundamentals of how to do deals and they can then
work smarter to do what makes them money. This can be as simple as
focusing on a niche market or outsourcing some of the tedious work.

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It started out like any other day but ended in a level of frustration that resulted in our
“shaking the trees” in the REO system. We had put in a purchase contract with a local
REO listing broker who is well known in the community. We put the order in one week
prior and followed up almost every day by email and telephone calls – with no returned
calls or any email response. The listing broker actually answered the telephone by
“mistake” and put Nan on hold. His assistant picked up the call and took the info and
put Nan back on hold. The line then disconnected and call backs resulted in getting the
voice mail system.

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I got a call from a condo owner who asked for a referral to a hard-money lender.
If you don’t know my feelings about condos, I’ll say it again; the best of these
deals are like a third-degree sunburn over 100% of your body – painful and ugly!
However, I listened intently as he explained his purpose for calling.

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