$1MM Deal: Meeting Update

Well, if you are regular reader, you probably are interested in hearing about how the meeting went last night on the $1MM Deal.  Even if you aren’t, you get to read about it a little in this post.  Ha!

SCRAMBLING.  Nothing ever goes as easy as we want it too does it?  Well it began with a couple of text messages to College Acquaintance (C.A.), because I hadn’t heard from him since Saturday in regards to our meeting time.  Finally I got a hold of him.  He was in town for another conference down here in Las Vegas, and kept getting busier and busier.  No longer could he meet in the evening for dinner, he had to meet us earlier, and we would only have a short amount of time to present the deal.

SPEAKER  has been busy all weekend with all kinds of deals that he is working on.  Surprisingly, I saw him for a brief amount of time on Saturday at the Jan REIC meeting.  But he, as I too, had built his schedule around a later meeting.  With the change in the time, he was going running tight because he had a conference call that ending 30 minutes before our suggested time.  Working in the North End of Vegas, and leaving only 30 minutes to the strip can be difficult.

THE CALL.  I almost gave it up when I had pulled into the parking spot, and just about to get out to the meeting with about 8 minutes before the time when I received the call.  Speaker’s conference call had just gotten over.  C.A. had a mere 45 minutes for us.  There’s no way that Speaker could make it.  I thought to myself, “Ok, this is an opportunity to network.  Learn his needs and wants.”

MEETING after explaining to C.A. the circumstances we decided to still meet and talk.  Catch up a little if you will.  We talked about people we were still in contact with from College, and how life had treated us.  And finally we got to talking about what he was doing, and more importantly what I was doing.  I learned something, when talking to people I need to compartmentalize the different avenues that I am working on.  At first C.A. thought I was looking for money to grow the 4plex inventory we controlled, and I thought we were just chatting.  After clarifying what we wanted to meet about this weekend.  It sounds like it’s not something that C.A.’s clients would be interested in.  So I asked him, how are his clients investing in real estate?

ANSWERS may not have been what I was looking for.  For instance, most of his clients want something tangible, that they can drive by an appreciate! Backyard investors.  Of course since I’ve moved to Vegas, I am no longer in that backyard.  Beyond that he does have a couple who invest in California, Nevada, and Arizona.  So I’ve got a farm area.  They are looking for bigger deal (Apartment Complexes) and they want to put large amounts of money down so that there are large monthly Cash Flows.

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