"Hurricanes, Hotels, and Honesty"
Real Estate Investing Expert
Episode 54: "Bad Beats"
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Greg Dickerson is a man of many titles, real estate developer, investor, and business coach and mentor being a few. He joins Scott today to talk about his best deal that took over 2 years to purchase. This episode of Real Estate Nerds gets into the hang ups that can be caused by litigation in real estate world.
Hurricanes, Hotels, and Honesty
Greg starts by giving his background on real estate:
[1:50] Greg talks about his first real estate deal, a landflip that he partnered with a friend on. He then continues on to talk about what types of projects he typically works on, usually as a contractor and facilitator.
[4:50] Greg talks about how he mostly learned the ropes of real estate on his own. He was introduced to the real estate game by a friend but after his first couple of investments he was on his own.
[5:23] Scott and Greg start to get into the details of his Best Deal which was a hotel damaged by Hurricane Isabel.
- Earning a hefty commission as a real estate agent for the neighboring lot.
- Taking the seller of the hotel to court (for over a 2 year period) for trying to back out of the contract.
- The eventual profit from the property after litigation.
[11:50] Scott and Greg get into the details of the legal strategy used by the hotel owners.
[13:20] Greg talks about what he learned from the whole ordeal:
- Ironclad contracts
- Documenting communications
- Lawsuits are a tool
- Judges and juries matter
[15:04] What Greg has learned from his involvement in legal proceedings.
[18:20] Scott and Greg talk about the importance of documentation, record keeping, and paper trails.
[20:28] Greg and Scott go into more detail on the tolls being involved in litigation can take:
- Emotional and familial
[25:30] Services Greg offers and his contact info (434-326-3903).
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Hosted by Scott Smith, Lead Attorney and Founder of Royal Legal Solutions
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