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SOWPub Business Forum Seeds of Wisdom Forum |
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OK. Let's start the damage control. First thing...a clear eyed assessment.
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Hey Killarney, As a "first responder"...I have to look around and make an assessment. What is going on? Is there immediate danger? What is taking place? I could be wrong, but your "hit" isn't over yet. What did you get from the well known high profile "gurus" you worked with? Anything at all? Did they discuss their plan? Or supposed plan? I'd start with the out of state project...can you dump it quickly and take the loss or would that be devastating? What dragon or wolf is knocking on your door and can not be put off any longer? Do you have a clear NEON SIGN view of what is going on, or are you too close to the subject? Grab a piece of paper and list what happens today if NOTHING happens today? Is someone going to sue you? Will you lose your home, your car, or any personal property? Which of your real estate specs can you get out of without loss? Although it may feel that way because they didn't perform up to expectattions. Killarney, you start with a clear headed assessment of where you are standing. And then take a deep breath. You have learned a lot (which at the present doesn't pay the bills, but in the not too distant future, it certainly could) Put each property on a 3 x 5 card with the price you paid, how leveraged you are...and put them in front of you to look at. What do you need to do to turn the corner? Get tenants? Will that work? IS that the answer the gurus had for you? Let us know a few of the details, and this group of "thinkers" can and may come up with some viable steps you can take. Gordon Jay Alexander |
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