Re: You are an individual, I suppose … - Posted by michaela-ATL
Posted by michaela-ATL on August 02, 2003 at 15:18:21:
Rich,
you’re right, but I think Atlanta is worse than any other city. It has been one of the hardest hit cities in terms of the economy and it has the largest real estate investor club (+3000 members) in the U.S. Every guru has presentations here. Yes, I can find deals, but the glut of newbies, that don’t really know what they’re doing, has really hurt the market here.
The other day I had someone drive up to me in front of my house, saw the sign on my car and started asking about Real Estate. We talked and I told him, that I normally do major rehab and I look for 80-100K potential profit. The guy then told me, that he only wants to do big deals like that as well and not fiddle with the small ones (he had not yet done any deals). All these people imagine to ret rich overnight. They all want to run without learning to walk first.
Oh, well, it’s just me ranting 
Michaela
michaela