In the video, Jack shares real estate investing tips. His main advice is to not get too attached to any deal and be prepared to walk away. He emphasizes the importance of rational thinking and pursuing solid deals rather than chasing once-in-a-lifetime opportunities:
Hello, this is Jack Miller at Gelt Financial. Hope you’re having a great day. Look, I wanted to tell you, and I’ve been doing this (I’m 58 at this point) since I’ve been about 18. There is a deal of a lifetime that comes across my desk, and your desk, every single day, sometimes multiple times a day. Don’t fall for the line, “Oh, this deal is a deal of a lifetime.” Once in a while, there are really great deals, but never get too attached to any deal before you buy it. Always be prepared to walk away on a deal, right at the doorsteps of closing, even if you’re invested through the due diligence and things like that up until you sign. Be prepared to walk away because only when you’re prepared to walk away, that gives you power to negotiate and power in terms of logical thinking. Is this the deal of a lifetime or is this a good/solid deal or not? I personally, I’m not into deals of a lifetime. I’d rather have slow and sleepy deals. I’m going to make another video on that. But always be prepared to walk away. And if you have the power and if you have the talent, you’ll always find a deal. There’ll always be deals coming your way.
For those deals once in a lifetime, I wouldn’t spend too much time on them. There’s going to be way too much competition. Go for the good solid ones. So, my message for you today is don’t get sucked into the line, “This is the deal of a lifetime.” Go for the singles, the doubles, the triples, and they will become home runs. They will if you act on them properly and wait and have the right time horizon. So that’s my message for you today: don’t get suckered into the deal of the lifetimes. Wait, always be prepared to walk away. Think nothing of being prepared to weigh, position yourself. A lot of its positioning. If you get too invested with hard money or due diligence money, sometimes you can’t walk away. But sometimes, walking away is best. So be prepared to walk away on every deal. Sounds like a little bit of strange advice for a real estate investor to a real estate investor, but it’s good advice.
Anyway, if you like the video, if you like the YouTube channel, hit the bell button, like the channel, like the video, leave comments, tell me I’m crazy, whatever you want to tell me, it’s fine. I hope you, hopefully, you’ll watch other videos. Hopefully, they’ll be helpful to you. And remember, I’m with Gelt Financial. We’re financing America, and “When your bank says no, we say yes!” have a wonderful day.
Category: Borrowers
Tag: pro tip
