The Biggest Secret In Making Money (Newbies Listen Up!)
 

Lesson #1

Keep your fucking mouth shut!!!

I learned this lesson hard today.... Went in to see my hair stylist, who is a buddy of mine and also a real estate investor. A couple of months ago I was in there to get my hair cut and we always shoot the shit about the properties we have and what we are looking at buying.

I had an awesome chance at buying a huge lot with a massive commercial building right in the middle of town. The lot was almost an acre in the downtown core! Long story short the building was in distress and needed a considerable amount of work done to it ($75k plus in renos to start) But the rental income was over $7000 a month.

I saw the longterm money in this deal and decided to lowball the seller on the price so I could put the money I saved into renovations to fix up the building. My investors would not agree to this deal due to the amount of work involved and the deal fell apart.

I went and to get my hair cut and told my hairstylist guy about this great deal on this awesome property and I was trying to get it worked out. A few weeks later I teamed up with another investor buddy of mine and we decided to go after the same building. Then as we went to re-open negotiations I find out the building sold?? It's been up on the market for over a year and a half and no buyers the whole time??!!

Long story short, my "friend" the hairstylist went behind my back 1 day afterwards got some investors together and bought this property. The deal closed the day we got our shit together for another offer....

Just goes to show you to always keep your mouth shut when you have a good deal... This property could have made me millions in the long term but oh well I only have myself to blame.

I hope this post will at least encourage some of you to keep your mouth shut if you have a good thing going. Please learn from my lesson.

DH

Lesson #2

Sig Spot :Graucho

Regards,

Lee

Lesson #3

get local hairdressers on payroll

damn that really sux bro but yea can't trust anyone nowdays

Thats fucked up.

You think someone is your friend but for money they would stab you in the back..


You know him long?

LOL! No Shit!!

The Wealthy Barber is wealthy for a reason!!!

DH

Lesson #4

Put the idiot Lee on ignore.

sorry to hear that man. thanks very much for the advice :)

I have not known him for long (less than 2 years) but he is a neighbour of mine. I own an office building close to his hairstyling salon and he wants to buy me out of it ;)

DH

yes a very good lesson. i was taught a long time ago that if youre doing good, dont show it. whenever someone asks how things are going, the only thing to say is "things are going alright". if things are great, the nosy ones will try and get in on your business to see whats making you money and if anything try and get a piece for themselves.

ROFL:1orglaugh :1orglaugh

You do see the irony in quoting my post in that reply right? :1orglaugh

Regards,

Lee

Very true Steve, success breeds jealousy, which sometimes breeds hate...

DH

YEah Mark. this sucks big time :(

Better luck with your next project buddy :):glugglug:)

sometimes the less you say the better :-)

tip

know 1 bank rep from each bank around the area u want to purchase.

best way of finding private deals.

Yep absolutely! I agree!

DH

Nice "friend" you got there. :(

I have a kickass mortgage broker he makes bank lenders look like schmucks... Those lenders have to make sure you fit in their particular formula before they lend you money....

DH

Yeah tell me about it! :feels-hot

DH

Or it could turn out to be a money pit and buyer will lose a fortune.

Just pray that when he starts renovating he discovers it's loaded with asbestos and shitty aluminum wiring.

:)

sad but very very true :/


sucks to find that out about your hair person though...I like being able to shoot the shit with them as well...

That is true. You cant trust anyone. Well everything happens for a reason my friend!

Sunny

Well I doubt he will be able to secure insurance by closing date. But we will see...

DH

I hope he gave you the haircut for free at least.
WG

Dude he owes me ALOT of free haircuts! LOL!

DH

Macroeconomics 101:

People act on their own self-interest.

Did he at least apologize or offer to give you a cut for finding the property? I wouldn't go back to him if he didn't at least thank you appropriately.

WG

After reading this story, this reminds me of the book the wealthy barber :)

hehe
WG

LOL! No thanks not even a free haircut!!

DH

Set him up with another "awesome" deal. This time make it one of your properties and take him to the bank..

Revenge is a dish best served cold.

Its a tough call because giving little tidbits to friends and business partners has often led to me getting in on equally or more lucrative opportunities...

often you get burned, but just as often you might get a golden nugget.

thanks for sharing man!

<--- always keeps mouth shut ... well i have to im only 1 1/2 month old in the adult biz, its not like anyone will listen to me anyways. :thumbsup

But i dont think i am doing that bad, 1st month i made 1k :Graucho:Graucho:Graucho:Graucho

I think he owes you a lifetime of free haircuts. But the question is... now that he's done this... can you trust him to cut your hair?

Note to self:

Make sure tricky hairdresser ends up face down in a river.

where the fuck is he mark, ill nut all over his face and kick his ass

I never talk when I get my hair cut, I let em do their job and I fucking leave!

so true, learned that lesson this summer :(

and i learned to keep my mouth shut from now on

i would not go back to that barbershop if i was you..

Whats with a dude hair stylist. Huge mistake rite there.
If you had an old barber guy or a chick that would have never happened.