Why to Invest with Reasonable People

[Jeremy Tillotson]

Okay so I have a bit of a rant here. Last year I did a JV deal with a guy I didnt know. He wanted to do a JV deal. After closing he decided that he wanted interest of 20% per year(because he didnt know me). Feeling like I wanted to be the better person and I agreed because there was profit to be made. We are going to closing now, and suddenly he feels I shorted him, so I agreed to the original JV terms minus the payments made. He is getting a 70.6% ROI and he feels like the deal should be better. He quoted to me, I accept this but know I am pissed. I was like um seriously. Know who you partner with before doing a deal. Just wondering all your guys thoughts or if you had a deal like this before. The awesome part is then he asked when the next deal was, the response when I told him there wouldn't be another one with him.

[Joel Owens]

"The awesome part is then he asked when the next deal was, the response when I told him there wouldn't be another one with him."

I don't think you should have said this RIGHT NOW before closing.

That's like putting lighter fluid on a fire. It's easy to get emotional and bite back at people. Over time it's just business and nothing personal.

A better way would be to wait after closing and be very cordial until that point to get the deal sold.

You can simply not bring them the deals first in the future. Even if I do not like someone that much I try to leave everything on cordial terms. Things have a way of circling back around. People do  not mistake my kindness for weakness but they know I am fair. You have to carry a soft hammer in this business but it's all in what you say and how you deliver it.