First substantial loss

[Jay Hinrichs]

I have closed a property yesterday that I took a hit on... it was my first loss in 3 years and over 250 transactions that I funded.

Take away...

 BP member good talker bad in execution.. I went and met with him in Atlanta again talked good game... But I got a little greedy I will admit and I tried a scheme that was not known or proven to me.. and he failed miserably.. I ended up taking over the project. One shinning light is I met a nice RE agent in Atlanta who went above and beyond to help me sell this property...

So my record last 3 years is 249 +  1 -  but it was not a wipe out but it was not 500 dollars either.

be careful out there just because someone is on BP does not an expert make or create a person of great character... Having been a HML for almost 30 years I have had it happened before and I usually have a pretty good sense of who to do deals with and who to avoid and most of my Vendors I have known for 10 plus years... So I will be more diligent if I bring on a new vendor again.. and for sure will not get lulled into thinking being on BP is some barometer of well being LOL... myself included.

[Account Closed]

Jay,

Ouch. Even after 40 years in the business, you're still a victim......occasionally. That goes to show that newbies should hang on tight to their wallet from solicitors on BP. Sometimes, I feel we should have a wall of shame on BP so these.....what should I call them...shysters don't take advantage of newbies. 

Based on my observation, you're one of those individuals that will do a deal on a handshake. Unfortunately, you shook the wrong hand this time and got an electric shock. LOL!!! 

Better luck next time sir.