With every sibling seemingly in agreement, Ester Telles from Ester Buys Houses held a Zoom meeting to agree on a purchase price for the family home. But one reluctant sibling decided to throw a wrench in the plans.
With 7 siblings, there are bound to be family dynamics going on behind the scenes. One of the siblings was going through a bankruptcy in secret, and her bankruptcy was going to complicate her part of the deal. But she didn’t want anyone else in the family to know. If you’re sneaky about a special deal, karma is going to get you, says Ester.
Ester’s had more than a few lessons that she’s learned over the years. She shares about the first and only rehab deal that she did with a couple of partners. That whole saying of too many cooks in the kitchen also applies to rehab jobs. Too many bosses giving orders caused tremendous scope creep and confusion. And in the end, how many wholesale deals could she have done in the 4 months it took her to get the rehab job done?
Getting sidetracked by deals that were dragging out over months caused Ester to stop her marketing. I call that the kiss of death because marketing is not like a switch that you can turn off and on. It’s like a pipeline that needs constant leads pouring in.
Ester knows when to walk away from a potentially disastrous deal. Listen to how she decides when to cut herself loose and move on to a better, less headache-filled property.
Watch and Learn:
Listen and learn:
- What it’s like to wholesale a strip joint.
- Why a motivated seller who’s desperate for cash can change a whole deal.
- Stepping out of her comfort zone to do a rehab job, Ester learned the hard way about scope creep.
Mentioned in this episode:
- Joe McCall on Youtube
- 6 Deals This Month With Coaching Client Ester Telles
- Ester Buys Houses
- Ester Buys Houses on Facebook
- Ester Buys Houses website
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