My Latest Deal Update And Why Getting Rich Is A Team Sport | Wise Investor Segment
Millionaire Mindcast
Matt Aitchison
4.8 • 721 Ratings
🗓️ 19 April 2024
⏱️ 21 minutes
🧾️ Download transcript
Summary
Welcome to the Wise Investor Segment, where we uncover the secrets to success, wealth, and happiness. In this episode, I will be sharing my latest deal update and why getting rich is a team sport!
Tune in to discover how mastering this one thing can transform your life, helping you unlock your full potential and achieve your goals. This and more on todays "Wise Investor Segment" Enjoy.
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Transcript
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| 0:00.0 | What's going on, guys? Welcome into today's show. I was recently out in Oklahoma for a 70,000 square foot retail center that I'm buying. And anytime I am buying a new property, I've got an entire due diligence checklist, obviously, |
| 0:26.6 | that I like to go through to ensure that I'm leaving no stone unturned, especially when |
| 0:32.0 | you're buying big properties with a lot of moving parts and you're spending a lot of money. A lot of commas and |
| 0:39.2 | zeros are in the equation. You want to make sure that you are leaving no stone unturned. |
| 0:44.0 | And you're doing all the things that you need to do during your due diligence period to |
| 0:48.6 | either validate your plan and what you think you can do to make the money, the returns, the investment being |
| 0:56.2 | worthwhile, or you're poking holes and you're seeing that there are some things that maybe you can't |
| 1:03.7 | overcome or maybe what you thought you could do on the property or the site or the project |
| 1:07.8 | that you actually can't do. And usually when I get to this stage of my |
| 1:12.7 | due diligence, I am either validated and feeling much better and more confident about moving |
| 1:21.5 | forward and closing the deal, or you get out there and you start, you know, doing everything |
| 1:26.9 | that you need to do and you go, |
| 1:28.5 | man, this is maybe not what I initially thought it was. And there might be more risk here or |
| 1:34.2 | there might be more, you know, challenges that I need to overcome. And you decide that you want to go |
| 1:39.9 | in a different direction and maybe avoid moving forward with the investment. |
| 1:52.0 | And so this was that time of the escrow period for me that I needed to get on site. |
| 2:00.5 | We call it touching the asset and sitting down and having all of my meetings and going through all the different parts of the plan and ultimately, |
| 2:05.1 | right, determining whether or not I want to move forward with this thing. So as you can imagine, |
| 2:10.0 | flying across the country from California to Oklahoma, I wanted to make the most out of my |
| 2:15.0 | time there. And some of my to-does while I was out there |
| 2:20.9 | was to make sure that I was meeting with all of the existing tenants and going through all of |
| 2:25.8 | their leases and learning about what they like about the property, what challenges or issues |
... |
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