Fake Invoices and a Trip to Mexico - Cary Love

Multifamily Missteps Hosted by Christy Keeton

It goes without saying that in the real estate business, we must know how to work with people all the while determining who to work with. Trusting one company to do the works may seem to be the safest way to go, however, Cary Love points out that we must consider the possibility of inconsistent quality of services rendered, the dangers of sob stories of contractors just to flesh in more cash, and how the contact person may vanish, leaving you hanging. In this episode, Cary talks about the horror story of working with irresponsible contractors, the lessons he learned, and how he overcame these mistakes.

[00:01 - 04:49] Opening Segment

• I welcome today’s guest, Cary Love
• How he got into the real estate business to retire at 44

[04:50 - 12:07] The Dangers of not Being Hands-On Enough

• When things aren’t going as smoothly as they seem
• Issues on working with irresponsible contractors
• The contact person may vanish or the quality may diminish

[12:08 - 22:17] Steps to Finding Consistent Contractors

• Recognizing the changing parameters in contractor work
• Giving chances for smaller companies to do the job
• Allow time for healing from mistakes to build a solid foundation

[22:18 - 24:48] Closing Segment

• Creativity solves problems
• Final words

Connect with Cary via Linkedin: https://www.linkedin.com/in/caryjlove/

Tweetable Quotes:

“This has always been my fear and multifamily. When you're doing a deal, if you don't have a proven team, right, if you think you're just gonna go out and grab a contract off the street to do the turns on your property that’s got bridge financing on it, I think you're setting yourself up for failure just because you don't know if that company is going to perform at the level that you need them to perform.” - Jerome Myers

“If you make a mistake, because you will make a mistake, you can look at your financial information and look at it and say, ‘Hey, in three years, what does this look like?’...’What will it look like in five years?” - Cary Love

“You know, one of the things is that time has a way of healing mistakes.” - Cary Love

Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3

Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB

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Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.