This has been a great lesson for me. I realized that I have grown in an environment that promoted competition instead of collaboration. One of the great opportunities that was presented to me recently required some initial hard money capital. Yet I am not a hard money lender and in the past I probably would have passed on this deal.
Well, I was talking with my neighbor (of all people) the other day to realize that he is a hard money lender. We are working together on how to best structure this deal where he can do the initial financing, and I can finance my neighbor out when construction is done. This is a win/win/win for everyone.
Who is the 3rd win for.....the customer as we may be able to do this with no money out of their pocket where in a 'conventional' sense they would have had to put down a minimum of 20%.
It is amazing how everyone can win if you are open to it.
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