real estate investors: Atlas Shrugged.... In Real Life! - 11/13/09 12:55 AM
I thought I would shake things up a bit with this post and see what kind of dialog we can get started...
Based on recent events in our economy and what appears to be an administration bent on destroying our capitalistic system, it seems that Ayn Rand was way ahead of her times when she wrote her fiction novel "Atlas Shrugged".
If you have not read this book... you should.
While written in 1957, it seems to have captured the essence of some of the very things our nation is being confronted with today... primarily that there has been an ever-increasing group … (8 comments)
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real estate investors: The Time to Educate Yourself Occurs Long Before You Need That Education - 11/07/09 06:39 PM
"The idiocy that I come across everyday in this business"
Yes... that is correct... the IDIOT real estate investors who somehow have seemed to survive as real estate investors in this market and are still out there making really stupid mistakes.
I am only going to relate one example... though I could write chapter and verse on the things I see and hear daily.
So... here goes... I will try to keep the story and the RANT short!
I routinely cruise a variety of real estate investor message boards to see what is happening, what's selling at what price, what questions … (0 comments)
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real estate investors: Real Estate Investors and Brick Walls... - 10/23/09 12:17 PM
I had the good fortune of having a friend recommend that I read a very compelling book recently. The book is titled The Last Lecture, by Randy Pausch. If you haven't read this book, I highly recommend it.
Randy's book is extremely touching and demonstrates a courage and vision that few can only hope to emulate... and it is filled with great common sense insight.
In today's world, it is both refreshing and touching.
In one chapter of his book, "Romancing the Brick Wall", Randy talks about his trials and travails wooing his wife Jai. As a life-long bachelor and Jai having been married once … (0 comments)
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real estate investors: Helping Real Estate Investors to Determine Accurate Repair Estimates... - 10/11/09 08:25 PM
In my weekly podcast, you can listen in here, http://tinyurl.com/yfq5j7v, I shared a story of how a Club client had purchased a property and asked me to do a walk-through with him to validate his repair estimates.
I won't go into all of the details here, just listen to the 10 minute podcast. The bottom line however was that my estimate and his were off by $30K. Not an insubstantial amount of money. Wouldn't you agree?
Now, as an agent how many times have you had a real estate investor, most likely a relatively new real estate investor back out of … (1 comments)
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real estate investors: Can Real Estate Investors... Move at the Speed of Trust? - 10/04/09 05:44 PM
As I scan the horizons of our economy, I am seeing a continued level of uncertainty and fear... and that is such a shame. This uncertainty and fear I believe are perpetuated because of the constant drum beat of negative news coming from our media and Washington. When the message is one of constant doom and gloom, it tends to become a self fulfilling prophecy! When I speak to people one-on-one, I am hearing the doom and gloom... but I am also hearing concern. I sense anxiety in their conversations... but mostly I sense that each of these individuals, most of whom … (1 comments)
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real estate investors: Most Real Estate Investors Will Not Get Out of Bed for MONEY Alone! - 09/30/09 10:17 PM
I was having lunch earlier this year with a gentleman who had a true gift for poetry. This person has not had an easy life, in spite of his extensive formal education. In fact, he had just been released from prison and was attempting to get his life back on track.
During the course of our conversation he indicated that he was doing odd jobs to make ends meet, but what he really wanted to be doing was providing motivational assistance to others going through what he was going through... hoping to help them to avoid the same mistakes he had … (2 comments)
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real estate investors: Real Estate Investors... and the Number One Cause of Road Kill? - 09/27/09 01:00 AM
If you are a real estate agent you know how challenging these past several years have been. Not only dealing with a market that for many has been in a free-for-all, buyers that couldn't get financed due to new stringent qualification rules... and for those agents who had the opportunity to work with real estate investors, the fact the many got clobbered during the turmoil... only to be replaced in many cases by a new batch of "newbie's".
If you are one of those agents... this post is for you to share with your real estate investors.
Here is a fact...
… (0 comments)
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real estate investors: Success Leaves Clues... How Real Estate Investors can Find Them. - 09/21/09 10:31 PM
My primary mentor in my life always used to say this about people in general...
Brilliant people never make mistakes...
Dumb people just keep making the same mistakes...
But the average SUCCESSFUL person learns from others mistakes and prospers as a result.
Seems simple and uncomplicated doesn't it? It is!
I have got to believe that the majority of real estate investors fall into at least the AVERAGE category. Yet often times we are arrogant or we falsely believe that we already know all of the answers and head down the real estate investing path... only to get taught some very expensive lessons … (0 comments)
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real estate investors: How to Profit in our Current Real Estate Market... - 09/13/09 12:20 AM
If you are finding that more and more real estate investors are approaching you and wanting to use your services as an agent... that is great news... and I hope this is working well for you.
However, based on my experience, I suspect that many of these real estate investors have no idea what they are doing and from your perspective they are wasting more of your time then they are helping you to make a living.
Does this scenario sound familiar?
If so, then please don't hesitate to invite these wanna be real estate investors to a live seminar that I am … (0 comments)
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real estate investors: Real Estate Investor Fundamentals... Helping Your Clients to Understand Them! - 09/03/09 12:21 AM
I have been focusing on fundamentals with many of my coaching clients lately because I am starting to see a whole new bunch of newbie real estate investors jump into this business without really knowing what they should know. Does that make sense?
Many of these newbie's seem to be rushing in without the slightest clue regarding what I call good... solid... investing... fundamentals.
I have seen and again am starting to see that for many real estate investors that their only criteria for purchasing a deal is that they have to have a deal... now! What an incredibly risking … (0 comments)
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real estate investors: As a Real Estate Investor... Can You Evict a Tenant in December? - 08/30/09 11:44 PM
I can't tell you how many times I have spoken with new real estate investor who wants to know what it takes to purchase a rental property.
My response is now almost pure reflex.
Instead of starting a discussion on how to find great properties, or evaluate them for their cash flow potential, I ask this real estate investor if they'd be able to evict a non-paying tenant in the middle of December... and then I stand back and watch their reaction.
I can tell in the first 2 seconds whether they are going to make it as a landlord.
If they … (2 comments)
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real estate investors: Incompetence... It seems to be everywhere... how Real Estate Investors can deal with it! - 08/29/09 04:06 PM
In early 2007 I wrote a couple of articles that dealt with finding good lenders who understood what we do, the risks and how they are managed and rewards for executing per our plans. In these articles I discussed how important good... no "great" lending relationships are to the life of every real estate investors business.
Well, it is as true now as it was then.
Without "great" lending relationships obtaining the capital to grow our business is next to impossible.
So, where does the incompetence part come in? From an experience I am going through at this very moment and it centers … (2 comments)
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real estate investors: Contrarian Real Estate Investors... - 08/23/09 08:07 PM
For the most part I have considered myself a savvy and yet contrarian real estate investor. Not unlike those "professionial" investors in the financial world who are selling when others are buying and buying when others are selling.
Historically, I have mostly invested in areas where most real estate investors were not investing... at least not in droves. And the one time I did invest where many real estate investors, mostly speculators, were investing... my business took a $100K bath.
LESSON LEARNED... Stick to my CRITERIA!
Getting back to this contrarian point of view... Over time I came to realize that this … (1 comments)
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real estate investors: Black Flies... and the Art of Success as a Real Estate Investor - 08/19/09 11:02 PM
Pete... She yells... these buggers are drawing blood! My only comment was "keep moving and they aren't so bad."
Just minutes before I found myself standing in front of a huge pile of leaves, sweating and being totally engulfed by the scourge of an early Maine summer. Black Flies... everywhere... and as Vicky (my wife) indicated they draw blood!
I had not noticed them while I was working as I was constantly moving... working to get the yard raked (my immediate goal) of the previous years leaves. Once I stopped... all bets were off however.
So... as a real estate investor what's … (0 comments)
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real estate investors: As a Real Estate Investor... Are You a Gazelle or a Lion? - 08/12/09 08:35 AM
It seems that, everywhere you turn lately, the news of our economy only gets gloomier and gloomier.
While I attribute much of this "sensationalism" on the media desperately trying to make a buck by out-doing one another with "I have the BEST worst news", there is a strong underlying truth that can't be denied... we are in some challenging economic times.
As real estate investors it can sometimes be difficult to stay focused, to go out into our market and do battle with renters, buyers, lenders, contractors, politicians and a whole host of others keen on advancing their agenda at the expense … (1 comments)
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real estate investors: No Excuses... - 08/10/09 06:48 PM
I have the extremely good fortune of receiving a variety of newsletters and other information I consider critical to both my personal and business development. Many times the information that is provided in these newsletters only confirms those things that I have already learned, sometimes the hard way. But in almost every newletter or online E-Zine that I receive there are a number of things that totally reinforce things I must be doing to ensure my success... and I would like to share one of those with you in the blog post.
In a recent E-Zine the discussion centered on excuses. … (2 comments)
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real estate investors: Newbie Real Estate Investors... and What To Do With Them... - 08/08/09 09:55 PM
As a real estate agent I am sure that you have experienced more then your share of real estate investors who just heard some real estate "guru" promise that you can become a millionaire, quit your job, purchase boats and airplanes, be surrounded by beautiful people... all in just days, weeks, months. Just add water, and there you have it an instant real estate millionaire. NOT!
For most real estate agents, they head for the hills when these newbie real estate investors walk in the door. And you know why! First you will have to listen to how this real estate investor … (2 comments)
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real estate investors: The Real Estate Investors Mantra... - 08/04/09 11:52 PM
In one of my previous posts I spoke briefly about what I believe is the mantra for all successful real estate investors.
Simply put... this mantra "You Profit When You Buy" says a lot about what a real estate investor is thinking when they ask you, their real estate agent, to make what seems like stupidly low offers.
For many real estate investors and almost all real estate agents, this concept of "profiting when you buy" seems out of reach on almost every deal... with real estate investors that just don't seem to understand what it takes to purchase "right" and "profitably'... and … (0 comments)
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real estate investors: Who Moved My Cheese? - 08/02/09 09:05 PM
I am sure many of you have read the book in the title written by Spencer Johnson. If you haven't I would highly recommend it. The premise as provided by Amazon is this...
"Change can be a blessing or a curse, depending on your perspective. The message of Who Moved My Cheese? is that all can come to see it as a blessing, if they understand the nature of cheese and the role it plays in their lives. Who Moved My Cheese?is a parable that takes place in a maze. Four beings live in that maze: Sniff and Scurry are mice--nonanalytical and nonjudgmental, they … (4 comments)
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real estate investors: Real Estate Investors... An Agent's Opportunity... or Worst Nightmare... Part 2! - 07/30/09 12:50 AM
All right... what is your position as a real estate agent regarding real estate investors? Are they an opportunity or are they a nightmare?
That was the discussion in a post I made in mid-July.
In a more recent post, I discussed some of the actions real estate agents could take to create a solid and profitable working relationship with real estate investors.
I want to thank Eilean Foster in the Egg Harbor City NJ area for providing the following comments...
Peter, I understand the investor's need to buy low to make the numbers work; but the investors I have want to "buy" … (5 comments)
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