We Have Just Completed the First 7 Days of our 30 Day Challenge!

We have just completed the first 7 days of our 30 day challenge. Boy has it been fun.

For those of you not familar with the challenge, I am taking 10 people who have never completed a commercial real estate transaction, and have each of them contract at least $1,000,000 worth of commercial property using none of their own cash or credit in 30 days!

Now many commercial deals take longer than 30 days to close, so we consider a successful contract to be one that is beyond the due diligence phase with funding approval, and a closing date set.

So far, everyone has gotten over the initial hesitancy of contacting owners/brokers/agents to negotiate deals. Each person has successfully evaluated several commercial deals. We even have a hand full of LOIs that have gone out; with 1 LOI having been verbally accepted! We expect the get the signed LOI, and actually close that deal within the next 2 weeks.

Well, I know this challenge has spurred a great deal of interst, so I wanted to keep everyone informed. I will report back again soon!!