So, I've been running my real estate consulting business for about 3 weeks now. Things are going great. But I started using this website to see if I could grab a few easy deals. I found that this guy is looking for some very valuable short-sale and foreclosure information--brokers, agents, asset managers, etc. Because I'm a pro, I have contacts--extensive contacts--to get this information, but this information costs a TON of money. A TON. Nobody is giving up private information that makes people millionaires for $100. So when bidding on this job, I explained in detail the costs associated with getting this information. My bid was rejected because he said it was "unrealistic." I looked at this guy's history--he put a post out for the same job a month ago. He hired an Indian for $50--FIFTY DOLLARS--a month prior. Of course the guy failed to get the information.
I just can't believe how cheap people are. Being unwilling to spend several grand for information that could make you millions? Trying to pay an Indian $50 for the stuff? LOL.
I worked somewhere that did "Corporate Finance" (everything from M&A to financial consulting) for very small companies up through the lower mid-market. Our partner was great and he said that his biggest challenge was knowing who was legit and who wasn't. He said he was always willing to do something mutually beneficial for both parties, but in the end he needed to get the appropriate value for our work.
That doesn't exactly relate to your situation, but its along the same lines. For example, if you could provide me this kind of information in the Chicago area I'd sign an agreement to give you $ up front, $ at each deal I close and a % of all profits. If you could really make me a millionaire I'd make sure you were well compensated.
An example of our struggles - we were selling a manufacturing company probably worth $25-50M. We spent a lot of time with this "PE" firm. Once it was all said and done the guy offered $1.5M for the company.
You can tell who will and will not be successful by seeing how much they're willing to spend on their business. This guy obviously isn't willing to shell out for quality product, so fuck him, let him tank on his own.
Yeah, I just spoke to my mentor on the phone, fuming at the idea that someone could be so ignorant and miserly. Like you guys, he reminded me that people like that aren't even worth the time, that I should just laugh at the fact that his company is on the fast track to complete failure.
Accountingbay, for the record, I could provide you with that information. :)
If you're serious about that claim (without taking insane risks) I think we should chat. Myself and a friend or two would compensate you well over time. Who knows, maybe you'd get above that $25k per year (kidding).
Just let him know that you get what you pay for...he paid nothing, so he got nothing.
Easy at that.
I would never do business with anyone that could understand the value of my services.
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