Mark Evans DM on why real estate investors and contractors fail: chronic undercapitalization, weak invoicing, and letting personal problems distract from client work. He admits his own billing mistakes and says structure your pricing so investors can't cycle deals without paying you.
One thing like Brian Miller was talking about today about investing in real estate, doing these things, going broke to keep buying properties. You start creating like this weird issue in your brain. It's hard, it's rough, it's not easy. Lots of real estate people go broke all the time. They almost get a constant broke state. Same thing I've seen as a contractor. I used to do this where I was more worried about my problem than the client's problem. It didn't allow me to connect with them. I'd lose so many great jobs. I was good at making it. Truthfully, I was not good at collecting, I was not good at invoicing, I was not good at billing. I was not good at any of that. But looking back now, now it's so easy. Invoice and think about why would they rip you off? Hoa. It's not their money doesn't benefit them. I'm more worried about getting ripped off by retail. Retail people rip you off all day long. These guys are especially investors. They're cycling deals all the time. The worst case scenario, put a mechanic sleeve on, boom, you get paid. That would be worst case scenario. Ideally they pay you because you have a good structure and you have a great product and a great price.
