You make the rules or eat shit sammiches

Reminder:

We are investors not “hired hands”.

We make the rules.

If I team up with a land owner…who owns a small plot of land…

And I make a deal where I am going to fund and manage the building and renting of an apartment building and we split rents…

I decide what the house looks like. I decide who builds it. I make all of those decisions.

If they say…

“I will only do this deal if you paint all the walls purple and hire my Uncle Ben to lay the foundation and my sister Sally to do the blueprints.”

My response is “No, thank you. You’re free to deal with the zoning board, hire all the contractors and build the apartment buildings any way you want if you’re paying for it. Do you want to do all that? Or do you want me to build it and we split the rental income?”

Over 75% of the time…

They say something like , “Fair point. I’ll let you build it.”

But the minute I forget MY value and position…

And I say, “Oh, getting your sister Sally to do the blueprints sounds lovely.”

Shit sandwiches start having to be eaten.

Sally will delay.

Sally will do crappy work.

Sally will cost me a fortune in time because I’ve got other contractors, inspectors and such lined up and her delays pushes everything down the line.

I will have to argue with Sally about why we don’t want to put the plumbing in the ceiling…and why the electrical work will catch fire.

Then our partner isn’t happy we are arguing with her sister…

Then they want to pull out after I’ve got time, money and energy invested.

Don’t do it unless you like shit sammiches heavy on the turd!