10/26/14: Halloween Horror Stories – Terrifying Tales from the Trenches

Real estate investing isn’t always sunshine and unicorns.  In fact, sometimes it’s downright scary.

But in every terrifying trial, there’s usually a valuable lesson…IF you’re willing to push through to the finish and then reflect on the experience.

In this episode, we cobble together a series of interviews with real life real estate investors.  We ask for their most blood-curdling horror story, how they got through it, and what they learned.

In the broadcast crypt for this monster mash of terrifying tales…

  • Your crypt keeper and host, Robert Helms
  • His hunch-backed henchman, co-host Russell Gray
  • Atlanta, Georgia real estate investor and turnkey property provider, Ken Corsini
  • Orlando, Florida real estate investor and turnkey property provider, Greg Bond
  • Grand Rapids, Michigan property manager and real estate entrepreneur, Justin Bajema
  • Lancaster, Pennsylvania real estate investor, Dave Zook
  • Houston, Texas real estate investor, Dr. Eric Tait
  • Atlanta, Georgia real estate investor and turnkey property provider, Michael Keefe
  • California based investor and real estate broker, Jerry Hicks

You can tell by the line-up we have a lot of ground to cover…and we don’t want to spoil the suspense by revealing too many of the details.

So, we’ll just offer the following tips and teases:

When Ken Corsini found himself suffering from a case of disappearing equity, he found out that you always need to do your due diligence…and you should never buy a property just because it has a tenant.

And when Greg Bond discovered that pets and property can be a messy business, he learned that tile could be his new best friend.

Justin Bajema echoes Ken Corsini’s epiphany that you always need to do your due diligence, and adds how important it is to know what you are…and aren’t…willing to do to make a profit.

Dave Zook is another investor who also understand the importance of due diligence.  And when you’re up against something that’s a little deeper than your level of understanding, you’d do well to make sure you have an advisor who’s experienced in the problem you’re facing.

Now up to now, it’s been fun and games.  Even though the stories up to this point have been painful and expensive, we’re only talking about losing time, money…and maybe some hair.

But when it comes to the case of Arkansas real estate broker Beverly Carter, there’s nothing to laugh about.

If you’re not familiar with the story, the short of it is that Carter met an unknown prospective client…alone…at a vacant property in a remote area.  In hindsight, it seems like a bad idea.

But for Beverly Carter, there is no hindsight…because she didn’t live to learn the lesson.  Tragically, she was later found murdered.

And even though the alleged perpetrator has been apprehended, that’s a small consolation for Beverly Carter’s family.

One of the most valuable lessons from Beverly Carter’s horrible fate is how important it is to be aware, prepared and trained.  Because you never know when danger may appear.

Next, Dr. Eric Tait explains how a fatal stabbing took place in one of his rental units…and how important it is to have proper policies in place.  He also found out that a group of committed owners and local law enforcement can work together to reduce trouble.

Then, Michael Keefe shares how his attempt to save a few hundred dollars on legal fees ended up costing over $50,000…all for the lack of three little words.  What is that…over $16,000 per word???

Lastly, Jerry Hicks relates the story of putting together a large syndication to do a real estate development project in the San Francisco Bay Area…only to find out his lead investor really didn’t have any money.

Jerry was able to use bankruptcy laws to buy time to get the property sold and make all the other investor whole.  Lots of lessons there, but the big one is to make sure you know your investors are qualified before they are in position to ruin your deal.

Tune in and hear all the frightening details…direct from the investors who paid the price for the lessons.

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