You know that feeling when you call the cable company to dispute your bill, and you get “passed around” by 8 customer service reps before you finally speak to a manager who can actually make an actual decision?
No? Just me? Okay then...
Hey investors, Jason Lucchesi here. Today, I want to chat about a similarly frustrating feeling that comes from daisy chains. You’re probably like, “Huh? Daisy chains, really Jason?”
But let me explain!
I’m not talking about the pretty daisy chains that little kids put in their hair. I’m talking about the ugly daisy chains that suck up your time and leave you empty-handed, as an investor.
In real estate investing, a “daisy chain” happens when Mr. Seller contracts a property to Mr. Seller II (another seller) who contracts it to Mrs. Seller, and so on. By the time the chain reaches the buyer, the closing often falls through – because the property was A) never under contract or B) sold without informing all the…
Jason Lucchesi
Jason Lucchesi is the co-founder of real estate and marketing company Global Fortune Solutions, LLC. Jason has been in the real estate industry since 2002, where he began his career as a Loan Officer. His career flourished in the mortgage business when he accepted an Account Executive position with Countrywide in 2004. Within his first six months, he had achieved the #1 Account Executive in the Midwest territory. In January of 2006. During this time, Jason began investing part-time in multi-family rental properties while also becoming involved in wholesaling. By 2006, Jason was transferred to the Indianapolis area to save a struggling branch. He quickly took the branch out of the red into the green while also beginning to purchase distressed residential properties part-time. In 2007, Jason began pursuing his ultimate dream of becoming a full-time real estate investor and began investing in REOs in 2008. Since then, Jason has been involved with many aspects of real estate including short sales, tax sales/deeds purchasing, purchasing homes in distress, wholesaling, and many other avenues. Jason has been married to his wonderful wife Jamie since 2007, and they are proud parents to their sons Brady and Gavin.