Yes! What they said… - Posted by George(OH)
Posted by George(OH) on October 23, 2000 at 17:39:14:
First of all, the real investors that you need to deal with don’t really need you to tell them that you’re new. If you’d been around, they’d know it.
Second, why offer to bird dog? I think you’re limiting yourself. It also shows, pardon the expression, a little weakness (maybe timidness is a better word), and when they sense this, they attack. The weak get eaten!
Third, if you’re getting these deals at such good prices/terms, the “investors” won’t have to resort to going around you. They also won’t pass up a good deal - if they are the real thing.
Fourth, to reiterate what Phil said, why not keep some of these hot deals for yourself? If the numbers work out great, you won’t have to hard of a time finding money. My first flip deal made me 4K, but if I had kept the deal, I would have made 12-16K on a retail sell, or buy and hold I would have had equity plus about $60 bucks cash flow.
It’s all in the attitude, and how you present yourself. When I call “investors”, I’m now telling them “I have a property at XXX Whatever Street, and I’m letting it go for $$$$ dollars”.
That’s it! Nothing about I’m new (which I am), or I’d like to develop a list of investors to flip to (which I do).
I’m not even offering to sell (flip) my contract. I’m shooting for simo closes, because I feel I could get more out of the deal. The flip where I made 4K, I could have made 7 or 8 with a double close and NOT giving out too much information about my terms with the seller.
Sorry to ramble, but us newbies gotta stick together!!