How to Do Everything Wrong In Real Estate and Still Be Successful. Franklin Cruz

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      Very often when a person is bitten by a shark he or she does not recover. In those rare cases where the person does survive, they are never really the same again. They are scarred for life, both physically and mentally.

      Sadly, I’ve seen sharks in the business world as well. More than likely you have too. Let’s look at what a shark is in the real estate world. It is a predator which attacks when it senses weakness or injury. You need to learn how to ‘circle the shark’ and learn its patterns. You also need to understand that when the shark circles you, it is learning your weakness and vulnerabilities before it bites.

      Coming to terms with the nature of the shark, and seeing him or her for what they really are, will save you untold emotional pain - as well as pure profit. You must understand a shark is not always easy to spot. He can appear to be your finest friend. He might claim to want to help you with your next deal, and offer you what seems like advice at first glance - yet when you look at that advice closely and objectively you see it has a couple of holes in it. He is setting you up for a loss while appearing to be the best friend you’ve got.

      Then there is the type that moves you along faster than you can process data, pushing you to find all the elements of a deal and put them all together for him. You are told you are doing well and will profit too, and of course you believe it. Yet had you looked closely and gone with your gut, you’d have seen that there was something false about his promises.

      There is also the type who leads you and the seller down a merry path of ignorant bliss. You both truly believe you are signing the most fantastic deal you’ve ever seen, until later when you finally have your attorney review all the signed documents - and all the hidden fees and inflated figures are found! You were so giddy at the great deal this shark was offering that you “trusted” him and by-passed one of your most important power-team members. You have to look at these people and truly go with your gut. Sharks are all the same, and their reputations precede them. They are greed-driven predators who will steal your deal, lie to you, get you to work far beyond the demands of a normal mentor, and convince you that you have so much to learn from them. In short, they suggest that you need them. So let’s get into the shark’s head and learn from his ways. Don’t let him get into your head where he can take your profits, suck your energy, and leave you bitten and scarred.

      I’ve seen some pretty good people in the industry completely destroyed by a shark bite, yet the truth of the matter is they failed to look at this person for what he really was and allowed their own greed to lead them away from sound judgment calls and their own gut instinct.

      Try this exercise: Look for and find a shark and visit with him, talk to him, and ask lots of questions. Watch how he operates, and how he treats you once he thinks you have something to offer him. Listen to his voice and watch the mannerisms. Ask to see a contract, or how he would structure a deal. Go through all the motions, but do NOT go through with the deal. Take it to your attorney and have him look it over. Find all the ways the shark is nibbling, and all the people he intends to bite. Repeat this process with as many sharks as you can find until you understand how they work, sound, act, and portray themselves while trying to prey upon you. If you do this from the perspective of a classroom exercise where you are working to learn how the mind of the shark works, you will greatly lessen the chances of actually being bitten when doing business “out of the classroom.”

      “Go with your gut feeling!”

      I believe in paying your dues, but I do not believe in being taken advantage of. Trust me, you will know the difference! The following personal experience illustrates the point I’m trying to make:

      I once was mentored by an individual who had been labeled a shark in the real estate investor circles I traveled in. Even so, the consensus was he could also teach someone a lot of creative ways to put real estate deals together. Fortunately I was warned ahead of time that I could find myself with a shark bite if I was not careful as I mentored under him, and would more than likely find any number of “bites” added to the deal he would have me work - such as a two thousand dollar “fee” for nothing at all. I might also do all the work of locating a property, finding a seller, finding a buyer, putting the deal together - and not get one dime. A good mentor will show you the ropes the first time around at his expense but in the end will want you to profit as well.

      “The most diligent individual is the one who will get rewarded!”

      I am all for learning, but one also has to be wise. If you are the one orchestrating a deal, you should expect to make something out of it – even if the person you are working for is your mentor. You should walk away with something, whether it be financial or educational. You must always work hard to learn from your mentor, but in return he should not bite you. You should never feel taken advantage of.

      Another example of a shark bite came early in my real estate investing career when I told an old time investor I had found a great deal in Spring Hill. Because I was so happy, I told him the address and all the details. He kept telling me, “Really great! Awesome, can't believe it. You’re so smart kid! WOW!!” All the right words to butter me up.

      The next day he came to a meeting СКАЧАТЬ