Real Estate Deal Talk is my way of providing massive value to real estate investors by answering questions about finding, evaluating, structuring, positioning, and exiting real estate deals and scaling a business. My responses are based on my own successes and failures as an investor, borrower, lender, and joint-venture partner.
It’s 7:00pm in Ann Arbor and I’m finishing evening classes when my contractor calls me. He tells me I need to drive to Detroit as soon as possible because he couldn’t finish a job on a property I was renovating. He also mentions he left a Shop-Vac for me in the basement. He’s in a hurry.
For those of you who don’t know me, I’m 5’5” and about 130lbs. Essentially, in absolutely no shape to do hard, physical labor.
So, a Shop-Vac? Good luck.
As I pack my bag to leave Ann Arbor in my zero-wheel drive ’92 Honda Civic DX, it begins to snow. As I arrive in Detroit, I could barely see 20-feet in front of me. It’s a blizzard.
I pull up to my rehab, rush inside, and hear the sound of running water in the basement. I go downstairs and the water level is up to my knees. In that moment, I realize I have no idea what I’m doing and I need help. So at 10:30pm, I muster up the courage to knock on doors to find a good neighbor. An hour later and a little luck, I found help.
We toiled into the night, worked as hard as we could, but came up empty-handed with a basement still full with water; we couldn’t fix the source of the leak. As the kind neighbor headed home, I watched his silhouette disappear into the blizzard, unsure of what to do next.
With the feeling of defeat and sheer panic, I wanted to sleep, but couldn’t. I didn’t have a bed, blankets, or heat. I was cold, wet, alone, scared, and a million miles from safety. I decided this would never happen to me again.
RealEstateDealTalk is for those who are seeking answers about real estate investing and those who have the grit, hustle, work ethic, and insatiable hunger to push through the toughest of times in order to achieve their fullest potential.
How Can I Help?
I always try my best to do what I can to help. For starters: