DO you practice what you preach? Why don't more realtors own multiple properties?

You make a good point. I think our companies shoudl stress this more to us.

Real Estate has always been the cornerstone to wealth. Lately, however, many investors have been caught behind the eight ball. While values have been increasing, so have foreclosures and mortgage defaults.

Income property, and vacant land seem to be ripe and ready for an astute investor, but these days the carrying costs at times exceed the income.

My wife put well when she asked me...do you want to manage property or sell property, are you a landlord or are you a salesman... I have found that I can make a lot more in commissions than by collecting rent., with out the risk of ownership....When I buy property I have better luck with a REIT

Jeff,

Great observation!

I believe there three reasons:

1. For the same reason a plumbers pipes leak!Why real estate and mortgage salesman seldom buy real estate!

1. When was the last time you heard of a lender or real estate salesman making anyone one rich? I mean clients not their brokers or ex-spouses!

2. How many salesmen do you know who have any security if they stop selling? What happens to them if the market changes?

3. How many people do you know that own any property besides their own home?

4. Why do the TV real estate gurus draw such large crowds? Yet, you can walk into a real estate office and find salesman with nothing to do.

5. How many salesmen and their clients give up if a client doesn't qualify for a conforming loan?

The simple truth!

1. Professional real estate people don't normally make anyone rich! They make the rich richer but rarely anyone rich, including themselves.

2. It's a very rare salesman, no matter how good, that has any security. Most salespeople mortgage and real estates, our experts, don't know an opportunity when they see it! Nor, where to look for one. They are trained, by their brokers, to generate commissions, opportunity to them means cash today! Not long term riches or security. Their employers are also part of the problem, they don't want their salesman distracted working their own account. Real estate brokers generally require commissions on any property their salesman buy or sell.

3. Because, they don't recognize or look for an opportunity mortgage and real estate sales people seldom own anything but their own home...

Everyone wants to be rich, but few are willing to do what it takes no matter how simple. Real estate and mortgage salesman seldom buy real estate, for same reason a plumbers pipes leak!

For the entire article: For the same reason a plumbers pipes leak! From 9-11-06

2. Their brokers! Brokers don't want ther salesmen distracted, investment properties take time to manage.

3. Their brokers! Brokers want hungry, motivate salesman, financial insecurity is a great motivator!

There are exception among both brokers and salesmen, thank God.

Bill

William J Archambault Jr

The Real Estate Investment Institute

First National Mortgage Sources

PS: Ron's wife has a valaid point, but she forgets long term security.