After 30 real estate deals and 400 rental units, this investor has weathered toxic partners, lawsuits, flooding, hailstorms, and a garage fire. His lesson: scale your business big enough to absorb the disasters that will definitely happen.
Chapters
Over the last 30 transactions and 400 units, I've had every problem you can have in real estate. I've had bad partnerships, I've had lawsuits, though I've won every single one of them. I have had floods like you wouldn't believe. I'm probably the most prone to flood of anyone I've ever met. I've never had a fire before until today. I finally finished all of the problems and survived all of the problems. We got a call last night saying that our building had exploded. I drove down here and turns out it had not exploded. There was a wire that caught fire in a garage. Yes, the garage fire was quite bad, but it was isolated to just the garage. We're getting it fixed today. But now officially, floods, partnerships, lawsuits, fire, hailstorms, we have been through all of it and we are still standing. There's a testament to why you need to scale your business to where you can afford to repair the things when they go wrong, which they will.