Nanci Regnier and Mike Regnier (Partner/Brother) Testimonial

 

Nanci Regnier and Mike Regnier (Partner/Brother) Testimonial

Rebel Property Solutions, LLC in Denver, CO
Nanci Regnier and Mike Regnier (Partner/Brother) with Mike Regnier


This is a shout out to Coach Cheryl O’Hearn of Shamrock Homes here in Colorado. My brother/partner, Mike, and I were recently in the midst of putting a deal together while attending the Wholesaling Bootcamp that Fortune Builders held in Denver in early April. We were worlds apart on how to proceed with the deal and not doing a very good job of communicating or articulating our points of view. While I was stubbornly proceeding forward with gathering earnest money, coordinating inspections and a sewer scope, Mike had enlisted Cheryl’s help to mediate the situation because we were at an impasse. We are so grateful for Cheryl’s calm demeanor and coaching skills. She gently hit me with a big dose of reality on how I was manipulating the deal analyzer in order to force the proverbial square peg into a round hole. She helped me realize how I let my emotions and desire to make a deal override common sense and be realistic about the factors that were effectively killing the deal. Cheryl’s advice was for us to agree on a minimum profit margin and ROI and stick to it no matter what. She also recommended being overly cautious on the hold time, consider unforeseen issues such as permit delays and factor in known issues associated with the GC we had planned to use, days on market, and a possible 45-day closing period at the end. “If you still have a deal under the worst case scenario, then everything else is gravy!” In this case, the added variables resulted in an extended hold time from 4 to 6 months, which in turn increased the holding costs, rendering the deal insolvent. Whomp! Whomp! Whomp! I ate a healthy portion of crow that day, and anyone who knows me knows that I HATE CROW! Thanks a lot Cheryl! No really, thank you Cheryl for your great leadership and advice. This was a huge breakthrough for both Mike and I and we are truly grateful! Nanci Regnier and Mike Regnier Rebel Property Solutions, LLC



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