Hey Abi, I want to share something that happened to me when I was involved in commercial real estate investing back in the early 2000 in San Francisco.
…and there is a Very important lesson, or call it “advice/tip” that I want YOU to learn from.
I will try to make this as short as I can.
OK.. I was being mentored by a pretty well-known real estate investor in the US. He was going to come into San Francisco for a seminar he was going to give and since I was one of his “students” I wanted to also see if I could do something for him…but also do something that would help me.
Since I had a HUGE network in SF…. as some of you might know, I used to throw pretty big and lavish parties and social events in SF and I had over 20,000 people on my Personal email/database list…. And mind you…there were some pretty “well-known people” on that list.
… for example, one of the founders of PayPal and also the founder of Hotmail… I will not mention any names here…but you get the picture…
… So… what I set up for this Real Estate Mentor of mine, was a Private networking/cocktail and handpassed horderves type of event where this Mentor of mine would pitch some real estate investment opportunities for these very wealthy people. The event was hosted at a penthouse, in downtown SF.
Ok… I just wanted you to get a “picture” of what I was doing…therefore the story up front…
So… I had of course, ahead of time had a conversation with this mentor of mine and one other friend of mine that I would receive 2% of any money raised by this group at this event. This conversation took place on the phone with the three of us attending it.
Long story short…..
…guess what happened: The, “so-called mentor” of mine… ended up, after the event refusing to pay me my 2% because he said that was not how he had understood/remembered it… and of course I confirmed back with my friend of what he remembered…and he of course remembered it exactly as I did: He was going to give us 2% of whatever money was raised….
Needless to say… I was not too happy with this guy… of course, I broke the relationship with him…so that was not a good thing for me either… especially as now I had close friends that I had personally invited to this very unique investment opportunity…and you can only imagine the dilemma I had..
….I am not going to go into the details around that, but the Lesson Learned is this: Next time, if you are going into an agreement or decide to do something with someone where money or important topics are discussed and agreed upon….
I strongly recommend that you immediately FOLLOW UP with a WRITTEN EMAIL to highlight and put in some DETAIL what it is that You “UNDERSTOOD” to have been AGREED upon… as then “the two parties” would have a Much, Much better chance of NOT getting into the situation that I got into.
I have since followed my own advice and BOY does it work and removes misunderstanding from one another and it is a great way to avoid potential conflicts with people.
To your success,
… I am just saying… Do “Suummmthing” about it and see the change it will make for you.
PS…check out my Social Media Channels.
…the Best to you…
The world is waiting for you!
You’ve got this!
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