Here’s one way to look and feel like you’re absolutely killing it in the Real Estate game. But end up in bankruptcy’s with debt up to your eyeballs.

This is a true story of an old competitor. The tale is a rather common theme in failed RE businesses.

The story: 🧵 Young gun real estate Tycoon sets out to build an empire.

He has the natural gift of gab and is charming. As an Agent, sellers love him and investors love him even more.

He learns a ton and starts buying houses to flip. Hires a GC, raises some money and hits the gas.

Almost fell victim to real estate related wire fraud this evening.

If I hadn’t been paying close attention to the grammar and word choice, I might have lost $400,000.

This fraudster is pretty cunning. Here’s how it worked: 🧵 I am currently under contract to purchase a $400k property on Wednesday.

In preparation of closing, I read the closing statement & planned to wire money tomorrow

This evening, I got a two emails from my escrow officer asking if her emails were going through.

Our team builds roughly 40 homes per year. At any given time, we have 10 homes in permitting, 10 homes under construction, 10 homes for sale and 10 homes under contract for purchase.

Below are a few key ideas that have allowed us to scale up larger than a few homes per year: 1) Software: We use centralized software that contains a checklist that each new home roughly follows. Our in house checklist is about 300 items in basic order. It’s not perfect, but helps us continue looking 2-3 weeks/months down the road.