Posts
So many people are scared of what is going on in our economy because of what they are told by others. Yet, they really don’t understand what is making our economy tick. I recently received an ‘economic update’ from my financial advisor and it raised some very interesting information. I completely understand that some people are knowledge junkies, and others only care about the end result. I also understand that people have different learning styles, and grasp information to different extents and levels of clarity. I’ve taken much of the information that I just received from my advisor and tried to clarify/simplify why the fears and panic of many people today are unfounded. Furthermore, there is much hope coming our way very soon.
Many people compare our current economic condition to the Great Depression. However the early 1930’s was very different (in many ways). Almost 10,000 U.S. banks went bankrupt and the unemployment rate surpassed 25%. The supply of money decreased by 30% and so the entire economy actually decreased in it’s total size.
Our current situation is different in many ways. The unemployment rate is only 6.5%, the entire economy only declined by less than 0.5% in 2008, the supply of money is still increasing, and there are many new insurance programs to protect depositors’ funds.
Now, there have also been comparisons between our current economic situation to those of Japan. Japan is now fighting their 5th recession in 15 years. Many have said that our economic situation is not unlike Japan at the moment. The current economic crisis is similar in some ways to what Japan experienced in the early 1990’s, however the (government) policy response is very different.
After the 1989 Japanese equity market crash, the Bank of Japan continued to raise rates. It actually took over 5 years for the government there to cut rates to 1%. The U.S. Federal Reserve board cut rates immediately (here) when it realized that the markets were in trouble.
It took Japan over 6 years to launch their economic bailout, while ours is already being implemented, along with many other policy tools that were not available to the bank of Japan.
Conclusion 1: Nobody can deny that we are amid a difficult economic slowdown, but it certainly is not another great depression. Thanks to the many policies and initiatives launched by our government, we are not heading for the same troubles seen in Japan. The global economic recession is already 12 months old. It appears to the experts that we will remain in tough times for the first 6 months of 2009. However, current and future stimulus activity will provide for an economic recovery, which is likely to show signs of turnaround in the second half of 2009, with solid economic performance in 2010.
Conclusion 2: Many people live in fear because of what they hear in the media, while others chase ‘get-rich-quick’ schemes, or do what everybody else appears to be doing (eg. stop spending and hold on to every penny they have). In the great gold rush, the majority rushed out with shovels to dig for their own gold, hoping (either out of panic for recovery and/or sheer greed) to strike it rich with their own found gold. The people who made fortunes during that time (without having specialized knowledge, skills, or panic) were not the people who were lucky enough to dig in the right place and strike gold (which by the way were few and far between). They were the people selling the millions of shovels.
Summary: Last year many investors asked me about investing in real estate in regions like south Florida. When I told them they could acquire properties at $0.40 cents on the dollar, they hesitated. They were always worried that if they waited longer, they could still get a better deal, and knowing that they could have got a better deal would bother them.
Now, with all indications that the market is close to the bottom (in many areas), people still seem afraid to invest their money until the majority of other people (and the media) say that the troubles are all over and it’s okay to part with your money. Fact is, by the time that happens, the prices are already going up. That (the price increases) is obviously one of the justifications that the media would have for releasing such a statement.
Where are the people now who fear that if they wait to long to start investing, they might pay more for a property, than if they bought sooner, while the prices were at an all-time low? That time is now folks! There is a very popular saying that all of the professional real estate investors say: “You make money in real estate when you BUY … not when you SELL”. When you buy, you negotiate the best price, and that determines how much room you have for capital appreciation.
Buying investment properties now is like stocking up on your shovels. When the country starts buying real estate and renting places to live, you want to have the inventory and meet their demand. Don’t forget – demand is what drives up prices (profits)!
Wednesday, January 28, 2009
Friday, January 16, 2009
Ready ... Set ... ACTION !!!
The economy is awful, job losses are at historic levels, and there is a huge opportunity to make money from this mess.
Albert Einstein defined insanity as doing the same thing over and over and expecting different results.
The truth is that knowing more information is helpful, but NOT sufficient.
The lie is that knowing more is sufficient to succeed.
The truth is that the people who succeed in real estate investing are not necessarily the smartest or the most knowledgeable.
The people that succeed are those who go out and 'do' something. The ones that go out and DO all the things that have to be done (and have been proven by other successful investors) to succeed.
You’ve heard it before – they take ACTION!
Fear is the most powerful emotion and it controls every single one of us. But you must consider the facts.
You can always get advice (free or paid) from experts who have the answers that you don’t have, when it comes to analyzing or acquiring an investment property. But you can’t go out and get ACTION. You must do that yourself.
You can’t steal second base, while keeping your foot on first base!
Lately I have been emailing my database of buyers, with phenomenal investment opportunities. They offer more ROI and less risk than anywhere else in the country at the moment. I take away the work of finding the deals, and I analyze the deal for them. I'm more than happy to answer any and all questions they may have.
These deals are also affordable by most people. Yet, they (investors) inevitably seem to take forever to make a decision.
When I offer a property to my private database, of course I remind them what a good deal it is.
Those who know me by now, would agree that I don't just hype every possible property that becomes available, by using fancy marketing words - I leave that to the scam artists.
There is an abundance of properties and deals out there right now, but I ONLY pick the very best deals of the crop.
After all - who wants to take chances and risks on volume deals, when there are specific deals available that have less risk and more upside (R.O.I.) than we'll ever see again in our lifetime.
Because real estate investing is a business, and because professional investors analyze deals based on numbers and facts ... not emotions .... if the deal really is a good deal …. then it stands to reason that it will get snapped up very quickly.
I understand investors struggling with the emotions and fears of taking the first step … and I respect their feelings. I was there myself when I started. But what I said in the previous line is undeniably true - you are not buying a home to live in. You are buying an investment - and investing is a business, so all that matters are numbers and facts.
Here is how my deals pan out (lately) when I offer them to my personal database of investors. Those who immediately analyze the numbers and spend a short period of time doing their due diligence, snap up the properties within hours to days of me notifying them. That is not because I’m a good salesman or I offer a lot of fluff. It is simply because the numbers and facts speak for themselves.
NOTE: I'm not 'selling' these properties myself (they are not mine). I am putting the investor in touch with the seller, so I have nothing to gain from lying or deceiving.
When the deal is a GOOD deal, someone will grab it quickly. Then there are the those people (and I hope you benefit from this email) who worry about everything that could possibly go wrong and take their time wondering what they don’t know.
First of all, nobody knows everything. Information is always available. You don’t know everything about accounting, but you hire an accountant. You don’t know everything about the law, but you use a lawyer when you need one. But the old saying is true – you snooze, you lose!
For that matter, consider the following - if any deal was still available after 4 weeks of me telling you about it, (or many weeks after you found it somewhere online) and after many weeks of you over-analyzing, then there probably would be something wrong with that deal (otherwise a savvy investor would have grabbed it much sooner) - right?
I'm not suggesting that you just act quickly out of fear of losing a deal, and risk making mistakes. But when deals come up, they usually only last days ... if that long (if it is truly a good deal). And by a good deal I mean highly profitable, and low risk. So if you want to get into this business and make a lot of money, but you feel that you can never get all of the pieces to fit together for you, before someone else snags the deal, then you should make sure your buying criteria, your expectations, your pre-approval for financing, your comfort level, and all of your concerns are addressed beforehand. That way you'll know when a deal comes up if it's right for you or not, and the only thing you’ll have to do is run the numbers to see if it works or not.
If you want more information on getting yourself prepared to make that investment or identify your comfort zone and what you are looking for, just let me know – I’m happy to help!
Tel: (905) 364-5250
Toll Free: (866) 966-0516
Albert Einstein defined insanity as doing the same thing over and over and expecting different results.
The truth is that knowing more information is helpful, but NOT sufficient.
The lie is that knowing more is sufficient to succeed.
The truth is that the people who succeed in real estate investing are not necessarily the smartest or the most knowledgeable.
The people that succeed are those who go out and 'do' something. The ones that go out and DO all the things that have to be done (and have been proven by other successful investors) to succeed.
You’ve heard it before – they take ACTION!
Fear is the most powerful emotion and it controls every single one of us. But you must consider the facts.
You can always get advice (free or paid) from experts who have the answers that you don’t have, when it comes to analyzing or acquiring an investment property. But you can’t go out and get ACTION. You must do that yourself.
You can’t steal second base, while keeping your foot on first base!
Lately I have been emailing my database of buyers, with phenomenal investment opportunities. They offer more ROI and less risk than anywhere else in the country at the moment. I take away the work of finding the deals, and I analyze the deal for them. I'm more than happy to answer any and all questions they may have.
These deals are also affordable by most people. Yet, they (investors) inevitably seem to take forever to make a decision.
When I offer a property to my private database, of course I remind them what a good deal it is.
Those who know me by now, would agree that I don't just hype every possible property that becomes available, by using fancy marketing words - I leave that to the scam artists.
There is an abundance of properties and deals out there right now, but I ONLY pick the very best deals of the crop.
After all - who wants to take chances and risks on volume deals, when there are specific deals available that have less risk and more upside (R.O.I.) than we'll ever see again in our lifetime.
Because real estate investing is a business, and because professional investors analyze deals based on numbers and facts ... not emotions .... if the deal really is a good deal …. then it stands to reason that it will get snapped up very quickly.
I understand investors struggling with the emotions and fears of taking the first step … and I respect their feelings. I was there myself when I started. But what I said in the previous line is undeniably true - you are not buying a home to live in. You are buying an investment - and investing is a business, so all that matters are numbers and facts.
Here is how my deals pan out (lately) when I offer them to my personal database of investors. Those who immediately analyze the numbers and spend a short period of time doing their due diligence, snap up the properties within hours to days of me notifying them. That is not because I’m a good salesman or I offer a lot of fluff. It is simply because the numbers and facts speak for themselves.
NOTE: I'm not 'selling' these properties myself (they are not mine). I am putting the investor in touch with the seller, so I have nothing to gain from lying or deceiving.
When the deal is a GOOD deal, someone will grab it quickly. Then there are the those people (and I hope you benefit from this email) who worry about everything that could possibly go wrong and take their time wondering what they don’t know.
First of all, nobody knows everything. Information is always available. You don’t know everything about accounting, but you hire an accountant. You don’t know everything about the law, but you use a lawyer when you need one. But the old saying is true – you snooze, you lose!
For that matter, consider the following - if any deal was still available after 4 weeks of me telling you about it, (or many weeks after you found it somewhere online) and after many weeks of you over-analyzing, then there probably would be something wrong with that deal (otherwise a savvy investor would have grabbed it much sooner) - right?
I'm not suggesting that you just act quickly out of fear of losing a deal, and risk making mistakes. But when deals come up, they usually only last days ... if that long (if it is truly a good deal). And by a good deal I mean highly profitable, and low risk. So if you want to get into this business and make a lot of money, but you feel that you can never get all of the pieces to fit together for you, before someone else snags the deal, then you should make sure your buying criteria, your expectations, your pre-approval for financing, your comfort level, and all of your concerns are addressed beforehand. That way you'll know when a deal comes up if it's right for you or not, and the only thing you’ll have to do is run the numbers to see if it works or not.
If you want more information on getting yourself prepared to make that investment or identify your comfort zone and what you are looking for, just let me know – I’m happy to help!
Tel: (905) 364-5250
Toll Free: (866) 966-0516
Thursday, January 15, 2009
Get Off Your Assets!
There is a book out called “Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security” (Hardcover) by Marian Snow.
I don’t necessarily recommend everything in the book for everybody out there with a home, but the title caught my eye.
It really got me thinking about how many people dream about making big money in real estate, but think they can’t b/c they don’t have cash. We live in a world of fear, distrust, and worst of all, a follow the herd mentality. From this recession, will come more self made millionaires, who started with very little, than from any other era or world situation in our lifetime. And it is not necessarily the rich who get richer – it is the people who seek advice and expertise, and think out of the box.
There are many people who don’t have cash in the bank to simply pay up front for an investment property, but they are sitting on tons of equity that they can leverage.
To raise a point that Robert Kiyosaki talked about in his book “Rich Dad..Poor Dad” - there is good debt and there is bad debt.
Bad debt is when you borrow money to buy thing that lose money, don't go up in value, or cost you to keep.
Good debt is borrowing/leveraging money to by an asset that increases in value and/or provides cash-flow for you. In my case, we help find investors find properties that will provide both (cash-flow and appreciation in value).
Last year (2008) we had investors refinance their home, buy a U.S. property with the cash, and the cash-flow from the investment property, not only covers ALL expenses to carry that property, but it also covers their increased mortgage payments (if their payment has in fact increased) ... AND it provides extra cash-flow/profit for them to save/spend/invest. While the cash-flow from the property covers all costs and pays the debt-service, the capital value of the house has ALSO gone up 10% in one year. Some investors have realized over 150% ROI last year.
If you want more details on how you can do this, (find additional monthly cash-flow), own an asset that goes up in value, and pay off your debt, then give us a call:
Tel: (905) 364-5250
Toll Free Tel: (866) 966-0516
I don’t necessarily recommend everything in the book for everybody out there with a home, but the title caught my eye.
It really got me thinking about how many people dream about making big money in real estate, but think they can’t b/c they don’t have cash. We live in a world of fear, distrust, and worst of all, a follow the herd mentality. From this recession, will come more self made millionaires, who started with very little, than from any other era or world situation in our lifetime. And it is not necessarily the rich who get richer – it is the people who seek advice and expertise, and think out of the box.
There are many people who don’t have cash in the bank to simply pay up front for an investment property, but they are sitting on tons of equity that they can leverage.
To raise a point that Robert Kiyosaki talked about in his book “Rich Dad..Poor Dad” - there is good debt and there is bad debt.
Bad debt is when you borrow money to buy thing that lose money, don't go up in value, or cost you to keep.
Good debt is borrowing/leveraging money to by an asset that increases in value and/or provides cash-flow for you. In my case, we help find investors find properties that will provide both (cash-flow and appreciation in value).
Last year (2008) we had investors refinance their home, buy a U.S. property with the cash, and the cash-flow from the investment property, not only covers ALL expenses to carry that property, but it also covers their increased mortgage payments (if their payment has in fact increased) ... AND it provides extra cash-flow/profit for them to save/spend/invest. While the cash-flow from the property covers all costs and pays the debt-service, the capital value of the house has ALSO gone up 10% in one year. Some investors have realized over 150% ROI last year.
If you want more details on how you can do this, (find additional monthly cash-flow), own an asset that goes up in value, and pay off your debt, then give us a call:
Tel: (905) 364-5250
Toll Free Tel: (866) 966-0516
Wednesday, January 7, 2009
Why Some Succeed And Others Fail
As I have personally attended and taught several real estate investing courses, I have always been intrigued about why some students succeed tremendously, while others fail miserably - all given the same information and education.
There are MANY differences between each person, but when we develop patterns (find common denominators that are present in one group, and not present in the other group), we can determine certain practices, beliefs, and methods that are sure to lead you down the same path (success or failure) as the others in the study group.
There is one blatantly obvious characteristic that is present in every success story, and non-existent in every failure story. You've probably heard it before, but it here it is. You MUST take ACTION!
It is amazing how many people think action is 'over' analyzing data out of fear. Of course fear exists, but those who don't want to take action use "not enough time to analyze" as an excuse. There are tons of fellow investors out there who are not afraid to take action.
When you buy a home to live in, that is an emotional decision. As an investor, every decision must be based on the numbers and the facts (with no emotion). Bottom line - either the numbers work or they don't. Numbers don't lie. But those who are afraid to take action typically continue to analyze the numbers as if they are trying to find a problem with the deal.
Guess what folks! If the numbers do in fact work, and numbers don't lie, then if you don't grab the deal ... another investor will.
You can take as many courses and read as many books as you would like. Information alone will not make you a penny. Acting on your information is where the money is at. Of course that sound easy to say but not easy to do (if you are a beginner), but there are always other 'mentors' out there who would be happy to help you analyze a deal to see if the numbers work.
One word of advice that I pass down to many of my students is to ACT on the information. Here is how I like to consider the word ACT as an acronym:
Action
Compensates
Tremendously
To your success ......
There are MANY differences between each person, but when we develop patterns (find common denominators that are present in one group, and not present in the other group), we can determine certain practices, beliefs, and methods that are sure to lead you down the same path (success or failure) as the others in the study group.
There is one blatantly obvious characteristic that is present in every success story, and non-existent in every failure story. You've probably heard it before, but it here it is. You MUST take ACTION!
It is amazing how many people think action is 'over' analyzing data out of fear. Of course fear exists, but those who don't want to take action use "not enough time to analyze" as an excuse. There are tons of fellow investors out there who are not afraid to take action.
When you buy a home to live in, that is an emotional decision. As an investor, every decision must be based on the numbers and the facts (with no emotion). Bottom line - either the numbers work or they don't. Numbers don't lie. But those who are afraid to take action typically continue to analyze the numbers as if they are trying to find a problem with the deal.
Guess what folks! If the numbers do in fact work, and numbers don't lie, then if you don't grab the deal ... another investor will.
You can take as many courses and read as many books as you would like. Information alone will not make you a penny. Acting on your information is where the money is at. Of course that sound easy to say but not easy to do (if you are a beginner), but there are always other 'mentors' out there who would be happy to help you analyze a deal to see if the numbers work.
One word of advice that I pass down to many of my students is to ACT on the information. Here is how I like to consider the word ACT as an acronym:
Action
Compensates
Tremendously
To your success ......
Monday, January 5, 2009
7 Real Estate Success tips for 2009
I recently received some advice via email from my friend Doug at MyHouseDeals.com.
The advice was so valuable, and because I not only endorse his comments, but have enjoyed much success due to some of the ideas he recommends in his email, that I thought I would share it with you.
Bottom line - it’s time to make a plan for 2009.
Tip #1: Create a Game Plan – Know what you want, and outline the steps that you must take to get there. Who will be involved? How will you meet them and gain their cooperation? How much time will it take? Where will you get this time? How much will it cost, and where will you get this money? What’s the risk? How will you handle it?
Tip #2: Have an Expert Review Your Plan – The first real estate plan that I created involved me single-handedly buying 100 houses in a year. And it listed out several different marketing strategies that were completely cost ineffective. I had a friend of mine who isn’t even in real estate review the plan, and he said it looked good. How stupid of me. About 8 months into working this over-reaching and misguided plan, I had an expert investor review it. He tore it apart, and together we re-constructed a better plan with more realistic goals (buy 12 houses, not 100) and a better marketing plan. Shortly thereafter, I bought 6 houses, and I actually felt good about my progress. Six out of twelve feels much better than six out of 100!
Tip #3: Don’t Give Up – The life of a new real estate investor is filled with countless highs and lows. You’re on a high when you think you have a property all locked up to purchase, and then you hit a low when it suddenly falls though at closing. Or you’re on a high when you finally do close on that house, but you hit a low when you hit a 3-week dry spell where it feels like you couldn’t get a seller to agree to your price even if you paid double. I hit a personal low when I was $5,500 in debt from fruitless marketing attempts. Oh, and jobless. But I got up early each morning and worked toward my goal of financial freedom. Even though a voice in my head told me to give up, I never did. That’s probably the #1 key to success. Don’t give up. I swear, you can be as dumb as a box of rocks, but if you don’t give up, you’ll eventually succeed.
Tip #4: Take Baby Steps – When you break it all down, big goals, big dreams, and big plans comprise nothing more than a series of miniature action steps or “to do” items. When you dissect the daily life of a successful investor, you’ll find that he or she does 8 to 12 things each day that are real estate related. One item might be “Watch DVD #5 in the new investing course I bought.” Another item might be “Call title company about the name on the warranty deed”. Or “meet inspector at house on Watson Street”. All of these little tasks each day add up to what is or what eventually will be a large and highly profitable real estate investing operation. So don’t toss that “to do” list by the wayside, thinking that your little efforts today don’t mean much. They mean everything.
Tip #5: Become Comfortable with Discomfort – I was actually nervous at the first real estate investing meeting that I attended. I was wondering if I would say something stupid or if I wouldn’t fit in. After all, most of the investors in the room were 40 or 50 years old, and I was 22. But by the third meeting I attended, I became comfortable with the crowd. Had I quit after the first meeting, I would have missed out on the very information that enabled me to buy so many properties. I’ve learned that one of the biggest keys to success is persisting though uncomfortable situations until they eventually become comfortable. This is where true growth occurs.
Tip #6: Do What You Say You’re Going to Do – As a real estate investor, your reputation means everything. They say it’s a small world, but the world of real estate investing is even smaller. So be honest, be courteous, and for heaven’s sake, do what you say you’re going to do. If you say you’re going to buy another investor’s house, by golly, you better move mountains … if that’s what it takes … to buy it! Otherwise, your name will eventually become mud, and you’ll have a tough time buying from not only that investor, but just about every other investor in town. Believe me, I can count at least 10 local investors of the top of my head who I will NOT do business with because their word means nothing. And I know several other investors who won’t deal with them either. You DO NOT want to be black listed.
Tip #7: Be on Time – Showing up late is just about one of the most disrespectful things you can do to another real estate investor, or anyone for that matter. It shows them that you don’t value them or their time. And whether you realize it or not, our time is MUCH more valuable than money. Money can be replaced. Time cannot. When someone shows up late for a meeting with me, I instantly throw their credibility in the toilet. And there are countless other investors who feel the same way I do. On the other hand, when an investor shows up on time or early, it makes me want to smile, reach out my hand, and strike a win-win deal. So be on time, and you’re much more likely to create trusted allies who can help you along your path to success.
I do hope some of these help you!
If you are looking to advance your real estate investments and need some ideas or feedback on your ideas, check out our website (www.mandmproperties.biz) or send us an email at: Info@MandMproperties.biz
Happy New Year!
The advice was so valuable, and because I not only endorse his comments, but have enjoyed much success due to some of the ideas he recommends in his email, that I thought I would share it with you.
Bottom line - it’s time to make a plan for 2009.
Tip #1: Create a Game Plan – Know what you want, and outline the steps that you must take to get there. Who will be involved? How will you meet them and gain their cooperation? How much time will it take? Where will you get this time? How much will it cost, and where will you get this money? What’s the risk? How will you handle it?
Tip #2: Have an Expert Review Your Plan – The first real estate plan that I created involved me single-handedly buying 100 houses in a year. And it listed out several different marketing strategies that were completely cost ineffective. I had a friend of mine who isn’t even in real estate review the plan, and he said it looked good. How stupid of me. About 8 months into working this over-reaching and misguided plan, I had an expert investor review it. He tore it apart, and together we re-constructed a better plan with more realistic goals (buy 12 houses, not 100) and a better marketing plan. Shortly thereafter, I bought 6 houses, and I actually felt good about my progress. Six out of twelve feels much better than six out of 100!
Tip #3: Don’t Give Up – The life of a new real estate investor is filled with countless highs and lows. You’re on a high when you think you have a property all locked up to purchase, and then you hit a low when it suddenly falls though at closing. Or you’re on a high when you finally do close on that house, but you hit a low when you hit a 3-week dry spell where it feels like you couldn’t get a seller to agree to your price even if you paid double. I hit a personal low when I was $5,500 in debt from fruitless marketing attempts. Oh, and jobless. But I got up early each morning and worked toward my goal of financial freedom. Even though a voice in my head told me to give up, I never did. That’s probably the #1 key to success. Don’t give up. I swear, you can be as dumb as a box of rocks, but if you don’t give up, you’ll eventually succeed.
Tip #4: Take Baby Steps – When you break it all down, big goals, big dreams, and big plans comprise nothing more than a series of miniature action steps or “to do” items. When you dissect the daily life of a successful investor, you’ll find that he or she does 8 to 12 things each day that are real estate related. One item might be “Watch DVD #5 in the new investing course I bought.” Another item might be “Call title company about the name on the warranty deed”. Or “meet inspector at house on Watson Street”. All of these little tasks each day add up to what is or what eventually will be a large and highly profitable real estate investing operation. So don’t toss that “to do” list by the wayside, thinking that your little efforts today don’t mean much. They mean everything.
Tip #5: Become Comfortable with Discomfort – I was actually nervous at the first real estate investing meeting that I attended. I was wondering if I would say something stupid or if I wouldn’t fit in. After all, most of the investors in the room were 40 or 50 years old, and I was 22. But by the third meeting I attended, I became comfortable with the crowd. Had I quit after the first meeting, I would have missed out on the very information that enabled me to buy so many properties. I’ve learned that one of the biggest keys to success is persisting though uncomfortable situations until they eventually become comfortable. This is where true growth occurs.
Tip #6: Do What You Say You’re Going to Do – As a real estate investor, your reputation means everything. They say it’s a small world, but the world of real estate investing is even smaller. So be honest, be courteous, and for heaven’s sake, do what you say you’re going to do. If you say you’re going to buy another investor’s house, by golly, you better move mountains … if that’s what it takes … to buy it! Otherwise, your name will eventually become mud, and you’ll have a tough time buying from not only that investor, but just about every other investor in town. Believe me, I can count at least 10 local investors of the top of my head who I will NOT do business with because their word means nothing. And I know several other investors who won’t deal with them either. You DO NOT want to be black listed.
Tip #7: Be on Time – Showing up late is just about one of the most disrespectful things you can do to another real estate investor, or anyone for that matter. It shows them that you don’t value them or their time. And whether you realize it or not, our time is MUCH more valuable than money. Money can be replaced. Time cannot. When someone shows up late for a meeting with me, I instantly throw their credibility in the toilet. And there are countless other investors who feel the same way I do. On the other hand, when an investor shows up on time or early, it makes me want to smile, reach out my hand, and strike a win-win deal. So be on time, and you’re much more likely to create trusted allies who can help you along your path to success.
I do hope some of these help you!
If you are looking to advance your real estate investments and need some ideas or feedback on your ideas, check out our website (www.mandmproperties.biz) or send us an email at: Info@MandMproperties.biz
Happy New Year!
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