Hey Kevin,
"The entire investment is lost" The same is said for the abstractor's business. Their entire investment is lost. If the mistakes are made, word gets around no matter what the company name.
The same with the real estate investment company. Contractors associate names with companies, they want the sure thing and it doesn't matter to them if some one else was at fault. That profession is shot.
An investment is an investment, no matter the size. A $10k investment is the same as a $100k investment to an attorney. Look at the ability of the repayment. An attorney makes a lot more than an abstractor and will have the ability to repay the $100k just as fast as an abstractor repays his $10k.
I was not commenting on your decision to fire employees after one mistake, that is your right as a business owner.
I was commenting on the risks we each take in business. But if you want to compare the money risks, a good example could be a $1 million dollar risk to Donald Trump is really no big deal compared to the $10k risk an abstractor don't you think? The $10k loss to an abstractor kills the business compared to the Donald not flying his jet for a week or two. So compared to the income an attorney gains is equal to the risk of $100k as is the income of the abstractor and $10k and both risk their future incomes and business and PROFESSIONS. Because abstracting is a profession and without it all the title products that is based on the work would pretty much come grinding to a halt.
Jay
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