Made an impromptu 200 mile trip to Champaign yesterday to do some face-to-face interacting.? I know I’ve established that this is the necessary theme nowadays…but I still have been trying my best to get around it.? But there just aren’t enough Gen-X and Gen-Y folks in Real Estate that are tech-savvy for me to be as virtual as I want.? When folks don’t Skype and when they don’t email…you’re kind of stranded to interact the old-fashioned way…face-to-face.
I had 3 meetings during the few hours I was there for.? But the most promising meeting was one with a potential private money lender.? We met for about 3 hours and just talked about the different forms of creative Real Estate and how we could work together.? I think I have him on board for short-term financing.? And in addition to that, we also talked about how we could team up for Tax Lien investing.? This is something that I’ve been looking forward to since last October, however it’s been on the back-burner (kinda) to other things unfortunately.
Here’s the actual sketch I drew-up while I was waiting for him during our meeting.? Coming up with the Joint-Venture arrangement for our Tax Lien activities is going to be tricky.? But if I move forward with him and/or anyone else, I’m sure it’s something that can be arranged.? The real trick was to utilize my own brain-power for the structure, thus minimizing attorney fees (at first, I used to consult with an attorney about absolutely everything…now, I’m starting to get a feel for when it’s necessary and when it’s not).? Before the end of this month, I should know if we’re a go or not.
But take a look below, tell me if this diagram makes sense to you (feedback in comments section).? He understood the diagram, but I’m just curious about others.? I stole the diagram idea from Shaun McCloskey.? Perhaps, I’ll start doing diagrams to illustrate all of my processes during meetings…