Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Surviving Painful Real Estate Deals

17 Oct 2024 · 1 min

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This YouTube conversation (Surviving Painful Real Estate Deals) features Richard Canfield and another speaker discussing recurring pitfalls in real-estate transactions. Key examples in this chunk: a $30,000 deal died because a required rental inspection was missed; some transactions become a "rat's nest" of title problems where the broker might only make ~$2,000 and the file can take 12–18 months to close; the speakers report such long/problem deals occur frequently ("at least once a week") and note examples that have been worked on for a year.

Chapters

The example of $30,000 deal being killed because you didn't get a rental inspection. I can imagine you only want to. You only go through that process about once before you realize, boy, that sucked a lot. We need to find a solution to that problem in the future.
It can be painful. And my job to my clients is to not let that happen. They count on us to be the best, and we have to do that. We have to make sure that we will do everything we can to get these deals closed. Will some not close? Of course. Some are just such a rat's nest of title problems, you're going to make $2,000. And I'm like, man, this is going to take 18 months to close. We'll follow it through if you want, but I don't know that this is the. For any of us to spend our time, but it happens at least once a week. We have a deal that's been a year old that we've been working through the process that maybe it did have to go through the court system and get those things closed.