I know it sounds harsh, but the statement is true! I've been to many investor clubs and talked to many "Real Estate Investors" that have been going to the meetings for 5 years, yet have never actually invested in a single piece of property.
This is strange to me, but the more I talk to people the more I find out they call themselves investors because they buy all the books, go to every meeting and think they are experts. But, when you get right down to it, they are scared they will lose everything and will never actually invest anything more than the money they will pay for a book, a seminar, or the next year's investor club dues.
I love talking to the soon to be first time investor that has the light in their eyes and is ready and willing to go! I've even helped some out by showing that I believe in what they are buying so much that I will go in it with them, but they will have to split the profit with me 50/50%.
This usually separates the serious first time investors frm the wannabe. A real first time investor will jump at the chance to reduce their risk by 50%, and usually within one year they will purchase their second investment property without my help.
So why do I do this? Because I know that once an investor gets that feeling of joy that comes from getting a positive cash flow property check every month, they will buy another one. I love helping other investors. I buy a lot of properties, but I know I can't buy them all! So I'm willing to give back and teach others.
This is a no brainer for a novice investor, or the experienced investor. They can make money buying the great deals that I have found them.
If you are in the Portland Metro area and are interested in becoming an investor and would possibly like to take me up on my offer to go 50/50 with you on your first deal to get your toes wet in real estate investing, give me a call I will love to sit and talk to you.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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Todd, I haven't had any luck working with investorsl. It seems like most of the ones I run into are just pulling my chain. No real money and looking to really take advantage of sellers.
One of my friends works with them almost exclusively and loves it. I just need to find the right ones!
I started in RE in the very early 2000s at the start of the upswing. I found it interesting (and a waste of time) when first time investors came "blindly" into our office. At that time, in that area, you did not find investment deals within a real estate office - a least not with a realtor who didn't deal directly with investment properties. I could never find properties where the "numbers" worked. Again, in the market we were in and area, chances were if they hit the MLS they were no longer good properies for investors. I think it still holds true a bit.
Katerina - If they would have someone on their side that cared more about them beyond that one deal a lot of these people wouldn't be in the trouble they are today.
Susan - Sounds like your broker gave you some solid advice and I'm glad you didn't act to proud and listened to him.
Linda - I think once you have met the right one, they will introduce you to their friends. It is like a domino effect.
James - You both would have won and you then would have had a future investment buyer for life!
Judi - Very true, that is why I have my investment club... The Empowered Investor, this group had investment trades. We would come across properties all the time, but we may not have the funds available to buy at that time, so we gave the deal to someone else.
Rick - If it was a possible cash flow thing, it could be all about the money. Some investors I know rent because they are nomadic by nature and don't want to pay the capital gains tax if they buy.
Dionne - The big one is certainly professional leadership, but you still have to have faith or you will never move and never become an investor.