Investing – Shotgun Style

I’ve worked with a number of Investors in the Phoenix Real Estate Market for a number of years.  I can always tell those that know what they are doing versus those that are just getting into it.  Those that have been doing it successfully for a while are talking specifics, price range, locations, rental rates.  Basically, they’ve done their homework.

On the other hand, there is the investor that is so new, they read a couple of books, probably attending a boot camp.  They don’t talk in specifics at all, they talk in, I want 2 houses, I’m going to put in a bunch of low-ball offers and if any come back, we’ll look at the house, the numbers and if it doesn’t work, we’ll make up an excuse to get out of the deal.  In other words they don’t negotiate in good faith.  The waist a lot of peoples time in search of a good deal.

Often, when my phone rings and my inbox starts to fill up with investors looking to get hooked up while they are in town, I start to look at some of my ‘favorite’ investor trainers schedule to see who is offering a camp and know what type of ‘program’ the investors will be running before I get too far into the process.

Here is a settle hint, my long term, happy investors that have been doing this for a number of years.. they don’t shotgun offers, they know what they want and how much they are willing to pay for it.  It works, and they make good money doing it.  So when the shotgun stops working for you, consider using a plan that does.

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