After a few painful failures spread out across a successful career, Lori Greymont has learned a thing or two about overcoming adversity, and that’s one of the main reasons that she launched the reality TV show, Funding Faceoff last year.
In the show, real estate investors pitch their deals to the panel of Deal Makers for funding and collaboration. The Deal Makers then analyze the deals on the spot, eliminate the one they think is the least likely to be a successful investment, and the remaining two investors then negotiate against each other to win funding and collaboration. The point of the show is to show people how the industry really works, and to give them a blueprint to use real estate as a path to financial freedom.
Greymont said, “I wanted to create a show that taught people how the industry really works so they can implement that knowledge to change their own financial trajectory. And that then led to the creation of our mastermind community and private coaching program. Essentially, I wanted to create an informative and supportive ecosystem that changes the lives of others through real estate in the same way it has for me.”
Instead of opposing team members continuously shooting wary looks at one another between takes, Funding Faceoff teams are apt to be seen spending part of their time visiting with each other. They even help each other work through potential problems with their process. In fact, over the two-day shoot, Funding Faceoff groups become a bonded community—a mastermind.
Greymont will be the first to tell you that she’s received a lot of help from other investors over her decades-long career in the real estate industry. Moreover, she’s always ready to share what she deems to be the most important tip of the trade.
Are you ready to know what it is?
Don’t hesitate to ask for help
The real estate industry is always evolving, meaning what works today may not be the best process to follow the next time around. Greymont found that when the market shifted, it often meant that she needed to reinvent her strategy entirely. Thankfully, there was always someone who was willing to help guide her through the development of a new process to follow.
At times, a mentor would contact her of their own accord. More often than not, however, she was the one reaching out—and not once was her request for help denied. She always knew that as she moved forward, she wouldn’t hesitate to do the same for others. Lori knows that becoming someone’s mentor doesn’t just benefit the mentee, the mentor reaps a harvest as well. It feels good to help another human being reach their goals—and, hopefully, go on to blow right past them.
The path isn’t always rosy
Lori has no doubt that her mother’s “do or die” attitude contributed to the way in which she deals with problems that arise in life. A child of divorce, Lori’s mother was an integral part of her education regarding the real estate industry. Unable to qualify for bank financing, she would buy a fixer-upper on terms and move herself and her kids in. They lived in the home as they worked together to renovate it, then her mother would put it up for sale and move on to the next one.
After obtaining an accounting degree and starting her own company after college, Lori realized her heart wasn’t in it. She closed the business, bought her first rehab, and got it on the market just in time for the 2000 housing bust to break. She moved her kids into the house when it became obvious it wasn’t likely to sell.
Greymont didn’t let the sad chain of events daunt her drive to succeed. She talked to an investor in her homeschool parents group about an idea to take on some local fix and flips. He supplied the financial backing and together they did 25 flips before the market began to get unstable. They cashed out and moved on. As happens when dealing in real estate, there were financial ups and downs over the next few years.
Then, her mom was diagnosed with cancer. Lori put her business nearly on hold so that she would be able to care for her. After she passed away, Lori upped her game and hired a full staff. When the team reached the “well-oiled machine” mode, she took her family on a much-needed vacation. While they were away, one of her team members called to inform her that she needed to return home—asap.
Greymont’s chief operating officer had let nearly everyone go, embezzled a substantial amount of money, and then had the audacity to try and blackmail her by holding her data hostage! Unable to access any client or accounting data—or get into her e-mails—it was the beginning of a nightmarish period of her life. Long, heartbreaking story short, she wound up having to file for bankruptcy in 2016.
When there’s nowhere to go but up
Lori Greymont had about $400 in the bank after the bankruptcy fiasco. With two children living at home, what else are you going to do but press on? With some help from a few good people—and the “never give up” attitude learned through the example set by her mom—she reinvented herself yet again. Life moved on and Lori did too.
Failure is never a reason to give up. Instead, it’s just a step on your way to success. Greymont believes she has been beyond fortunate. That’s because no matter what adversity she had to overcome, there was always someone who was willing to bank on her knowledge and experience. They knew what she was capable of and believed she would reach her goal. Being determined to get up and press on when you’re knocked down screams of integrity—people see that trait in Lori Greymont and respond to it.
Sharing her wealth of knowledge
Modeling Funding Faceoff after the hit TV show, Shark Tank, proved to be a great idea! The TV audience gets to engage in the thrill of the competition while at the same time learning ways to pull a great deal together. They get to see what happens when a not-so-great deal hits the table as well though.
“The viewers receive guidance as they watch,” Greymont said. “They’re learning that yes, they could do it. Funding Faceoff creates hope. And as we go into a recession, a lot of times people feel like they’re out of options. They feel stuck. We’re showing them that by creating opportunities, they can move forward.”
The Funding Faceoff Mastermind is another avenue for real estate investors—large and small—to explore. Connecting with a group of like-minded individuals to hash out strategies is an excellent way to meet a long-term mentor or participate in high-powered events intended to inspire and empower members with a newfound drive to succeed. Her latest book, The Influencer’s Impact, teaches readers how to thrive and not just survive in life.
There’s nothing new about sharing the knowledge you have gained over the course of your career with others. In fact, many entrepreneurs are well-known for it. Lori is just doing her part to get the word out. After all, we’re all in this together and there should be plenty to go around.