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 profile
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. Craig empowers others to reclaim financial control and make meaningful, lasting impact.
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Worst investment ever
Craig 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 learned
- When underwriting, ensure all the boxes get checked, and ask those questions a little more.
- Don’t mix friendship with business.
Andrew’s takeaways
- Before 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 advice
- Do 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 recommendations
Craig 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 months
Craig’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
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