Deal Theft
Deal stealing. This is one thing I do not tolerate nor should you. Deal stealing is working with another investor then they try to steal your deals or contracts. Not cool.

Let me tell you a little story. Worked with a guy on about 30 houses, all went pretty well. Then he had a change of heart, he decided to send a fellow who worked with him around me, to steal my deal. We will call him “Allen”. A smuck.

Its nice when you are working with only a few fellow investors you can wholesale to them houses if you have too many on your plate. Well seems the thirty houses or more he got from my efforts, well he wanted them cheaper, decided not to pay the wholesale price then went around me to get the deal. This happened once that I could prove, later I found out it was not the first time he did this. Then he tried to steal a collegue of mine who is a master researcher, putting the colleague in a precarious position, not a good feeling, and trust me, in business feelings ARE important. Relationships are important, your word is important. “Allen” found this out the hard way.

I am grateful to my researcher that she did not decide to jump ship, but she is smart, she always says…”if he tryed to burn you Bill, what makes you think he wont try to burn me, maybe at a critical time like in a huge deal.” Exactly my point. Now now how is his reputation in the investor community you might ask? I will tell you his name when from “Allen” to “Mud”.

I pity him, we got pretty tight, he overlooked that and chose short term profit for long term wealth thru a business relationship. Last I heard he has several law suits pending and houses going into foreclosure.

My feeling is folks can always talk about things to try and work them out, then if there is a difference of minds that’s fine you can go your own way, no hard feelings, to maybe do business another day. Its sad, he still emails and trys to get me the researcher to “work for him.” Some folks never get it.

I have had a few try to do this, but they are few and far between. When I was a new investor one guy left me waiting in a title company for hours, I did not know what to do. So I told him the deal was off, he threatened a law suit in our business that’s called a Lis Pendens, or lien on the property, so it cannot be sold. I did not know what to do, so I gave him the deal, the last deal ever. Guess how many of the next 155 houses he has got from me, zero, nada, the big doughnut, none. Then had the nerve to call up wanting to borrow money a year later! Hey, I do not tolerate men who cannot keep there word, nor should you.

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