So here’s how the conference call went

When I got to my business partner’s place he was very upset about everything.  He was having serious doubts as to whether or not this investor was the real deal because he never sent us the information he said he was going to.  I had no doubts that he was the real deal and basically told my business partner to calm the fuck down and we were going to find out what the hold-up was.

So I called him once my business partner calmed down and left a message.  I then sent him a quick email saying I tried reaching him and to please give me a call as soon as possible.  He replied to my email almost instantaneously saying that he scheduled a time to call us around 1:15pm.

Once we got that email my business partner already started to feel better because initially he was thinking we were just going to have to sit and wait all day for a call back, but now we had a scheduled appointment.

Anyways, once the investor called, I did all of the talking, and we got a firm commitment from him to send the info no later than today (Tuesday).  I told him if we don’t get the info from him today I’ll call or email him Wednesday to see what the status is.  He also gave us more info as far as his background and he seemed to be lightening up on the phone which is good.  He’s cracking jokes now, verses before he was all business and our relationship with him has definitely grown and I’m happy about that.  He also gave us some compliments on the phone saying he feels we are the guys that can make this happen and he thinks we are going to be able to do a deal.

Anyways, after the call was done, my business partner felt 100% better and he basically said that any doubts he had about this guy are completely gone now.  I never had any doubts about him in the first place.  I always felt he had the money, but to me that really doesn’t mean anything.  He could have a billion dollars, but if we can’t come to an agreement it does me no good.

He also said that he was involved in some other large real estate transactions which is why he hasn’t gotten back to us.  This was something I brought up to my business partner last week.  I said; “this guy is a player and he is probably working numerous deals and ours got set aside for a minute, don’t panic.”

I was right.

In talking to him, I did get the vibe that if we do a deal it isn’t going to happen as quick as I initially thought it would; although I could be wrong.  My thought process is that if it’s taking him this long to send over a simple summary email, and if we come to an agreement, how long is it going to take to actually get the real paperwork signed and the funds transferred?

If it takes a bit longer than I expected, that’s fine.  I honestly don’t care as long as we do a deal with him and it’s the right deal for everyone involved.  He did tell me on the phone during our first conversation that if we can work together it will happen “quick,” and he also did say during our last conversation that he is eager to get going.  He feels the market conditions are perfect right now and will be changing soon, so time is of the essence.

I still feel as though my goal for February is completely realistic.  I think we should have, at the bare minimum, paperwork exchanged and being reviewed by both parties before the month is over.  One thing I did ask him on the phone was if he had a standard agreement he used and he said he did have a 12 page agreement that he uses which he then tweaks to each individual deal.  So the basic foundation/outline of the paperwork is already completed which is good.  It’s not like we are going to have to get attorneys involved so they could draft up contracts which could take weeks or months.

So the goals for this week are to get our business associate the information she needs (hopefully today), and to be on a conference call with her by the end of the week discussing what she can do.  From there, it would be nice if we could get her on the phone with the investor by the end of the week or early next week at the latest.  If they come to a verbal agreement over the phone, then I don’t think we will have any issues with the paperwork.

I am going to give myself a pat on the back for a moment because I will say that if this all works out (God willing) it was largely due to my efforts.  I’ve talked to this investor more than anyone else thus far.  My business partner has been on the line but his involvement has been minimal.  Once things are “official” the major workload will be on our business associates shoulders, however the majority of the effort in getting him to move forward has been coming from me.

I made a post earlier about the importance of being in control because no one will work harder then you to get a deal done and this is an excellent example of that.  I will do whatever it takes to work something out with this investor and am not going to stop until it happens.  If someone else was in control right now, I can’t say that they would have the same mindset.

This week has been off to a great start and let’s hope it finishes that way.  I’ll keep updating when needed.  Have a great day people!

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: