Think About It — Does your RE Investment Broker Know Where To Tap?

There’s an old story that illustrates an older principle. It’s about one of the Navy’s subs that was experiencing constant problems with the miles of pipes on board. They called in the experts who usually bailed them out, but this time a solution eluded them.

Finally an old salt remembered a consultant who had impressed him years ago. The consultant was called in.

After inspecting the pipes for a good two hours, the consultant went to his tool box. He pulled out a small hammer and proceeded to tap a couple pipes in three separate spots. He then put the hammer away, grabbed his stuff, and left.

His invoice arrived a few days later for $25,000 — which enraged the sub’s captain. He called the consultant demanding a written explanation be immediately emailed to him for review.

Sure enough the email delivered the explanation a few minutes later.

  • Trip fee – $100
  • On site inspection – $100
  • Knowing exactly where to tap – $24,800

BawldGuy Axiom: Assuming integrity, nobody cares a whit how the cat got skinned — until they find out if the cat got skinned. Results is the name of the game. Always has been, always will be. There’s no substitute for getting the job done.

Does your real estate investment broker know exactly where to tap?

Related posts:

  1. Does Your Real Estate Investment Broker Know Where To Tap?
  2. Investment Broker: The Real Estate Bubble
  3. So You Want To Be A Real Estate Investment Broker — Here’s How You Begin
  4. Is Your Real Estate Investment Broker Like a Nordstrom’s Sales Guy?
  5. Can Your Broker Provide Exclusive Pre-Construction Access? Nation Wide?
About BawldGuy

I'm second generation real estate, first licensed in fall of 1969. Having been mentored by several iconic brokers, I'm also CCIM trained, having completed all 200 hours back in 1980. Have successfully executed well over 200 tax deferred exchanges, many of which have been multi-state in nature. Strong points are analysis and the creation and real world application of Purposeful Plans employing several strategies synergistically. The idea is to arrive at retirement with the most after tax income possible, backed by the largest net worth.

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Comments

  1. Great story! There is no substitute for expertise. You can hire someone to work for pennies on the dollar, but if they flounder around and don’t know “where to tap” it’ll likely cost you a lot more in the long run.

    Gotta love the axioms!

  2. BawldGuy says:

    Readers — Joshua runs one of the few real estate sites I frequent. Click on his name — you can thank me later.

    Good to hear from you, Joshua.

  3. Thanks for the love, Jeff!

    Likewise, yours is one of the few dozen blogs that I actually follow.

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