WTF is wrong with this investor?

[Engelo Rumora]

G'Day everyone,

Nobody talks much about the S#@% that real estate service providers put with.

All we mostly see is the bad reviews from unsatisfied investors talking smack on all of us.

So, I’m glad the thread I started a few weeks ago got traction and that many of you agreed.

You can read more here - https://www.biggerpockets.com/forums/48/topics/1170821-wtf-i...

I'm also happy to share some further light on the disrespect, incompetence and ignorance that we sometimes have to deal with.

Here is a recent situation and unfortunately I’ve experienced hundreds like it over the the years.

I guess common courtesy and common sense aren't so common nowadays.

@Jay Hinrichs You're gonna love this one... 

Here it goes:

1) Investor fills out our app.

2) Investor quickly submits POF.

3) Investor answers pre-qualification questions.

4) Call scheduled with me and we talk for a good 60min and have a fantastic call (Investor is made aware of our entire business model and how we operate. I share that some deals aren't yet fully turnkey as we are currently rehabbing them just so we are on the same page. Investors reserve a property in advance and wait for rehab completion. All is clear, investor understands and is satisfied 👍)

5) Investor is sent our FAQ link for the second time along with a link to hundreds of YouTube video's on our channel (We have been in business for 10+ years and have heard every question asked so there is almost no question that we haven't already answered via the auto email sequence, the content on our website, pre-qualification emails, during the investor on-boarding and during the intro call with Engelo).

6) Investor promptly signs refundable deposit agreement (All good so far, right?).

6) I start sending our exclusive deals in advance of receiving the deposit due to how good we both felt on the call (My mistake).

7) Investor "openly and honestly" questions our business model and wants to know how we make money. I "openly and honestly" in much detail share with chapter long emails (Which I normally never do) what I learnt from the great @Chris Clothier. And that is that we make as much money on every deal as we possible can but we still keep the price at fair market value. "Price is what you pay and value is what you get" - Warren Buffett. My thought process was that I was dealing with a sophisticated individual that understands that a company needs to be profitable in order to be able to offer a valuable service. The investor even nonchalantly said that I don't have to reveal our numbers. (My mistake #2).

8) Investor makes BS excuse that the properties need too much rehab (By the way, the rehab that the investor doesn't do as that is our job/risk and the investor is more than welcome to do a building inspection once the rehab is completed. ZERO risk to investor and all was already covered during our 60min call).

9) Investor never sends the deposit.

10) Investor doesn't reply to follow up emails, txt's or phone calls.

11) Investor rudely tells my assistant to remove him from the list and hangs up on her.

There you have it folks.

Another day in the office and again just one instance out of hundreds that I could write 13 books on what we have experienced since 2014.

I guess the lesson is that we all need to be "Kings that cry poor".

It seems like nobody is happy, if you're happy and nobody wants you to do well and make money.

Everyone seems to want the best deal possible for the lowest price possible even if that comes at the detriment to someone else.

I'm exaggerating but from a philosophical standpoint, human nature is to feel "more accomplished" and "more satisfied" when knowing someone else pulled out the shorter straw.

It took me many years of self reflection to master this internal concept of "understanding, empathy and compassion" toward others...

Would love your thoughts on the above?

Happy Investing 🏠

Happy Weekend ☀️

God Bless America 🇺🇸