House of Horrors: The Legal Podcast For Real Estate Investors
Are you a real estate investor who wants to make sure your investments are a blessing not a curse?
The House of Horrors Podcast can help you protect your properties without losing your sanity. Learn from lawyer and landlord, Bonnie Galam, as she breaks down real estate horror stories so you can avoid them and to help you build a solid foundation for your portfolio.
In her straightforward way, Bonnie offers a mix of actionable steps to help you grow and tough love she knows you need to hear to check yourself before you wreck yourself.
Find out more at bonniegalam.com/podcast
House of Horrors: The Legal Podcast For Real Estate Investors
98. Lost 6 Figure Deposit with Bob LaChance
This week on House of Horrors, I’m joined by Bob Lachance, a former pro hockey player turned investor who shares how he lost $150K on a knockdown rebuild in Greenwich, CT and what it taught him about trusting partners, doing due diligence, and not falling for “can’t-miss” deals. We also dive into a shady property management horror story and how Bob uses VAs to scale smart.
👩🏫 In This Episode You'll Learn
- The hidden risks of joint ventures and handshake deals
- Why legal costs aren’t always worth the fight
- How to properly hire and vet virtual assistants
📺 Subscribe to my Youtube channel
👩💼 Work with my law firm
Connect with Bob Lachance on Social Media
🌍 Website - https://revaglobal.com/
📸 Instagram - https://www.instagram.com/revaglobalva/
🎥 Facebook - https://www.facebook.com/trainedvirtualassistants
📺 YouTube - https://www.youtube.com/@REVAGlobalCareers
Connect with Bonnie Galam on Social Media
🌍 Website/Blog - https://bonniegalam.com
📺 YouTube - https://www.youtube.com/@bonniegalamesq
📸 Instagram - https://www.instagram.com/bonniegalamesq
📱TikTok - https://www.tiktok.com/@bonniegalamesq
💻 Linkedin - https://www.linkedin.com/in/bonniegalam
⌚ Chapters:
00:00 Introduction
00:21 Meet Bob Lachance
01:12 The $150K Knockdown Rebuild Mistake
02:39 Why They Put Down a Non-Refundable Deposit
03:39 Legal Fees and Trying to Fight for the Money
04:59 Why They Walked Away from the Deal
06:10 Real Estate Lessons from Losing $150K
07:15 Blind Faith vs Due Diligence
08:13 Lessons About Vetting Partners
09:20 Structuring Deals to Avoid Legal Messes
10:40 RIA Groups and the Illusion of Credibility
11:58 Jacksonville Property Manager Horror Story
13:12 How They Discovered the Fraud
14:46 When Litigation Isn’t Worth It
15:54 Virtual Investing Risks and Tips
16:30 How Bob Got Started with Virtual Assistants
18:18 Tasks VAs Can Take Over for Real Estate Investors
20:01 How to Use a VA for Branding and Lead Gen
21:00 Common Mistakes Investors Make with VAs
22:05 Non-Competes, Moonlighting, and VA Red Flags
23:20 Final Advice for Risk-Averse Investors
24:26 The Power of Playing the Long Game
26:06 Don’t Wait for Perfect Timing Start Today
26:39 Where to Connect with Bob
26:50 Outro and Legal Disclaimer
DISCLAIMER: Although Bonnie is an attorney she doesn’t give legal advice without a dually signed engagement agreement. All episodes of House of Horrors are educational and informational only. The information discussed here isn’t legal advice and isn’t intended to be. The information you listen to here isn’t a substitute for seeking legal advice from your own attorney
© 2021-2025 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC