The fundamentals in commercial & residential real estate support our strong 2025: lower interest rates, still record-high pricing, and mostly tight inventory that’s expected to let up some this year. This will break the logjam and allow us real estate investors & professionals to get back to our strong volume again.
Here’s today’s agenda:
- For Sale – 44 Real Estate Investor DealsÂ
- How to Tell if Someone is a Successful Deal Maker
SOLD – Warehouse in Steger, Â Illinois
- 3,950 Sq. Ft Warehouse + Office
- 6,500 Sq. Ft. Fenced, Paved Yard
- Recently Rehabbed
- M1 Zoning (map) See pg. 57 for uses allowed
This warehouse has been completely updated and ready to move in. Perfect for contractors, storage, certain auto repair, warehousing etc. This place would be ideal to store a car collection, boats, jet skis, etc.
This week you have the chance to buy a nearly-turn key warehouse deal. We are very close to accepting a lease for $5,750/month, or $56,980 NOI. Once this lease is signed, the value at an 8.5% cap rate will be $670,000.
Successful People Like My…
Successful people like my text messages. Let me explain. I send a successful Deal Maker a text and they almost immediately “like” the text. Or send me a reply quickly. Successful Deal Makers “like” the text to acknowledge what I’ve sent-it’s like a read confirmation, but with more attention provided. I KNOW they’ve seen what I sent.
On the other side, people who procrastinate, don’t pay attention to their phone, don’t do anything. Maybe I get a reply, maybe not. Â No “like”, no acknowledgement. Probably no action on their part.
Successful People are ALWAYS Testing You
That reply, that “like” of my text is a actually a small test! SUCCESSFUL PEOPLE ARE TESTING YOU based on their speed of reply. I’ve hired contractors, brokers, loan officers, inspection companies, & even Acquisition Managers based, in part, on their responsiveness.
Believe it or not, some people are simply not responsive. Perhaps they simply turn off their phone at 5:00-or all weekend-because they have more important priorities than being responsive. It’s ok if they have other priorities and care more about their quiet time my business, but if I’m going to layout sums of MY cash in your direction, I honestly want you to care highly about MY business.Â
I see it like this: if I’m hiring a broker to sell one of my commercial properties, and they don’t reply to my text, will they reply to the inbound text from our buyer?
If I hire a mortgage broker to procure a loan, and they don’t reply to my text in a timely manner, will they delay underwriting with that same procrastination? Will the delay put my (sometimes 5 or 6 figure) EMD in jeopardy later when requesting an extension because their delay caused a delay in funding? Â Will they cost me that deal & the EMD if that seller doesn’t agree to extend?
We are in the real estate business. There are large sums of money at risk at all levels of this business and at every stage of every deal. There times when a call on a Sunday afternoon, or 7:30p on a Friday wins you the deal. Or a text during those same times keeps your deal alive. Even Steve Schwarzman talked about several deals made on a Sunday in his book, “What it Takes.”
I am not saying you must be on-call all the time, life happens and there are legitimate reasons for a slower reply. The trouble begins when the slower reply become the habit, and then eventually no reply happens. This “no-reply” is absolutely unacceptable. Better to reply quickly than be labeled as a “no-reply” kind of person.
Perhaps there are successful people out there who turn their phone off at 5 and don’t care to be bothered at certain times. Perhaps they’ve earned that right by earning an 8 or 9 figure portfolio and don’t need to be responsive anymore. Real Estate is tricky because for many, this is the end goal: Get Rich & take it easy.
Well, this isn’t me, and it is not how the team at Diamond Equity has already closed 245 deals this year. I personally enjoy the game-the business of transforming the Earth, one deal at a time, one parcel at a time. This is my lifestyle, my hobby, even my purpose.