A real-estate investor admits to a membership group they've never closed a deal before. The group offers to pool money for a purchase anyway. Their lawyer says it's possible but warns the paperwork will be extensive and complex.
My first property actually was a group of members. So at this point, our membership was growing and I was completely honest with everyone. Like, listen, I have not done a deal yet, thinking that people would be like, no. They're like, okay, you seem to be smart. Well, come on, we'll figure it out with you. So a couple of members kept saying, let's pull our money together and do a deal. And I really did not want to do it. I kept coming up with a bunch of excuses to the point where we hired a lawyer and I thought the lawyer was going to come in and be like, nah, y'all can't do it. It's too much legal tape. Y'all can't do it. So I literally brought the lawyer in and she was like, yeah, you can do it. It's going to be, you know, it's going to be crazy. It's going to be a lot of paperwork.
Episode 575: Redefining Retirement as the Day All Your Choices Open Up with Doug Bennett
