I just closed on a house that I don't want 😫

[Stephen Keighery]

I closed on this property today. The truth is I don’t want it so I assigned the contract to a different buyer. Problem was my buyer was using a hard money lender and wasn’t able to get funded. They had extended a couple of times to get it sorted and then went quiet on me. So I closed on it even though I don’t want it.

Why would I buy something that I don’t want?

Because my word means something and I told the seller I would give them a quick close and it’s not their fault the person I assigned the deal to was having issues. If I didn’t live up to my word then my word would stop meaning anything. If I used my brand to get the deal and then didn’t deliver on my promise then my brand would diminish and would stop helping me get the deals.

I know a lot of wholesalers won’t do this and I understand it can be difficult. This is the difference between doing wholesaling as a side hustle and doing wholesaling as a business. If you want to create a business out of wholesaling then you need to run it like a business. In business, brand is everything and providing value to your customers is essential. You need to put the customers at the center of what you do and ensure they get the outcome you promised. If you do this you will attract more customers and grow. I could have tried to extend the close date, or back out of the contract but that would have been putting me before the customer. The customer was happy and that's what was important. Yes, I will incur some closing and holding costs but I consider that an investment in my brand and I will make it up with all the extra deals I get because of my brand.

I am looking forward to building my business and growing my brand more in 2023 and I hope y’all are too.