I once told one of my students to cut-and-run.
He had a mess on his hands, and it was only getting worse.
Instead of keeping it simple like I tend to preach, he simply grew too fast, had too many rentals, too many rehabs, not enough wholesales, and then his business collapsed under its own weight.
I looked at everything he actually owned, deals he had in process, and then compared it to what the payment burden was.
And I made a bold suggestion.
Sell off the good stuff to pay off the bad stuff.
“You’ll be back to zero, but all the headaches will be gone.”
“And it isn’t really zero, as you know you can actually do it, as you’ve done my process plenty of times now.”
But better to stop the bleeding while you can, and before it gets too far out of control. Then rebuild correctly.
A tough pill to swallow, admittedly.
But the right pill.
Discernment is difficult.
Guided by intelligence.
Not just raw smarts.
And it takes time and experience to accept that sometimes it needs to be done.
Will this help you at all?
For most, probably not.
But for those that need to hear it right now, it’s perfect.
So there it is.
Want to delve deeper into my philosophy?
Grab a copy of my best-selling book here:
Traction Real Estate Mentors