put your money where your mouth is

I had an epiphany today. Grant Cardone said,"if you can't sell something you gotta buy your own product. Go into debt if you have to buy your own product."

I didn't understand what that meant when I first heard it.

My business is centered around buying add value apartment buildings to increase the rent and add value to the property.

At first, I didn't understand why an apartment owner would sell their property for less than what it is worth. It all came full circle when one of my properties was causing me too much trouble and taking up too much of my time. So I was more than happy to sell the property for less than the ARV because the opportunity cost was too much and I could take the time and money and invest in bigger deals.

Therefore, when we got back to the acquisition side my energy was different because I understood that there is a price to pay to have someone to solve a pain point. Sometimes solving the pain point is worth more than the discount on the purchase price. I wouldn't have understood that if I didn't put my money where my mouth is and sell one of my properties for less than the ARV.