How to Lose $6,500 in 30 Seconds

How to lose $6,500 in 30 seconds
My buddy Rich and I had a deal going in Corcoran California. This deal came from a post card campaign we went together on. We had the deal wrapped up last summer for 65K I believe and then sellers told us they decided to keep it as a rental.
Then about a month ago the sellers contacted me that their renters had just moved out and they were now ready to sell and wanted to know if I was still interested in buying. Rich went back over to check out the property and the sellers had upgraded with carpet and Lino, unfortunately over gorgeous hard wood flooring, and the kitchen was still the original dating back 60 years or so.
We got the house this time on contract for 75K. It was a great looking house so I decided to market it at $86,500
One of my regular buyers sent me an email and said to send him the assignment immediately. Rich and I had to fight tooth and nail to get the sellers down to 75K and how they had wasted out time and screwed us over the last time was still fresh in our minds. Rich and I talked about how the $11,500 assignment fee we were getting might freak them out and screw up the deal because we knew how difficult these people were.
It was getting close to a closing and the Title Company had requested the seller’s info cuz they needed to fill out some more paperwork and come in for the final signing. A few weeks had went by and I asked Rich to call the Title company and see what was up and if we cud push it along.
NOW, This is the crazy part… Rich tells the Title girl to hide the amount we were making and according to her he repeated it several times before hanging up.
I didn’t know anything about this until the buyer calls me up and tears me a new anal cavity. He chewed me out good, He says this blankity blank guy called his title girl and she called him and who the hell does he think he is and he was backing out of the deal unless I got rid of him and he was only going to pay $5,000 on this deal and if I didn’t like he didn’t care and to never send him a deal with that other ahole’s name on it. He went on an on about he had never jacked me down on my prices and how we had done a lot of deals together. If this guy calls him he will tell him the same thing.
I agreed to the 5K assignment, losing $750 buks kinda hurt. Rich was losing out on $5,750 for making the mistake, I think it may have been unethical what he was asking, maybe even illegal. The Title Company is bonded, doing what Rich suggested might have lost them their license. Maybe the Title girl shud of just told him she couldn’t do that.
I was sort of in shock, Rich was understandably upset and was asking who gets his $5,750 I told him probably the Buyer/ Realtor. He says that’s BS and not right and started going on a tangent. I told him I was really worried he wud do something else that wud make it worse and nobody wud make any money. He said he was going to shut his pie hole. And wanted to send an apology to the Title girl.
Maybe I shud have split the $5K with Rich, but it was his mistake, not mine and he lost me $750.
I told Rich that I had lost much more than that from some of my stupid mistakes and we wud make it up on the next deals.
It never gets too boring around here.
Let’s learn from our mistakes and let’s make some Money….
Rando