Craig Cecilio - From Trust to Turmoil: Lesson on Friendship and Business

BIO: Craig Cecilio is a visionary disruptor and CEO of DiversyFund, dedicated to democratizing wealth building. He has broken barriers in private markets, raising over $1 billion and offering investment opportunities once reserved for the elite.STORY: Craig had a potential business partner introduced to him by a friend. The partner had a land deal and convinced Craig to invest $10,000. A couple of other people joined in and deposited about $250,000 into the land development deal in New Mexico. A week went by, and the investors got ghosted by the land deal owner.LEARNING: Don’t mix friendship with business. Do your due diligence on all the parties involved in the transaction. “Assume everybody is a crook and work backward. That’s the key to underwriting and any investment.”Craig Cecilio Guest profileCraig Cecilio is a visionary disruptor and CEO of DiversyFund, dedicated to democratizing wealth-building. He has broken barriers in private markets, raising over $1 billion and offering investment opportunities once reserved for the elite. Craig empowers others to reclaim financial control and make meaningful, lasting impact.DiversyFund offers a unique opportunity to invest in multifamily real estate, making wealth-building accessible to everyone. By investing in DiversyFund, your audience can take part in a diversified real estate portfolio typically reserved for high-net-worth investors—no accreditation needed.Worst investment everCraig had a potential business partner, and they were doing a land deal. The partner always liked to chase big deals, while Craig is a singles hitter. However, he decided to invest $10,000 in this deal. A couple of other people joined the deal and deposited about $250,000 into the land development deal in New Mexico. A week went by, and the investors got ghosted by the land deal owner.Realizing the gravity of the situation, Craig took it upon himself to investigate the deal. He delved into the intricacies of the financial system, learning about wire transfers and the sequence of events. His thorough examination of the circumstances and the paperwork revealed crucial oversights in basic information and essential due diligence items.While Craig lost $10,000, losing that potential partner and the trust was the biggest loss. Craig had to sever that relationship as well.Lessons learnedWhen underwriting, ensure all the boxes get checked, and ask those questions a little more.Don’t mix friendship with business.Andrew’s takeawaysBefore you transfer any money, stop and go through a checklist to make sure you know what you are doing. You have to assume that once it’s gone, it’s gone.Actionable adviceDo your due diligence on all the parties involved in the transaction, and if it sounds too good to be true, it is not.Assume everybody is the crook and work backward. That’s the key to underwriting and any investment.Craig’s recommendationsCraig recommends checking out the online courses he plans to launch next month. He also recommends his upcoming book, You Know What You Got To Do.No.1 goal for the next 12 monthsCraig’s number one goal for the next 12 months is to launch his online courses. He also plans to put them on the map.Parting words “Just get started. Lean into it and get started. Take the first step. Read about it. You have so many tools in your hand. So just get started.”Craig Cecilio [spp-transcript] Connect with Craig CecilioLinkedInInstagramWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsXYouTubeMy Worst Investment Ever Podcast