Posted by JohnBoy on April 18, 1999 at 21:05:37:
“AMEN”! Fellow chucker Bill.
Posted by JohnBoy on April 18, 1999 at 21:05:37:
“AMEN”! Fellow chucker Bill.
What If Too Many People Get Into The Real Estate Game? - Posted by Nick
Posted by Nick on April 18, 1999 at 06:28:02:
I was wondering, what will happen if too many people get
into the real estate game? Will it decrease profit opportunities?
Re: What If Too Many People Get Into The Real Estate Game? - Posted by Rob FL
Posted by Rob FL on April 18, 1999 at 18:12:56:
I agree with JPipers advice of throwing your hat into the ring.
There is an old saying, “Land, they don’t make it anymore.” Realize, that all the real estate in America was bought off by private investors/business/homeonwers many many years ago. Everything that is bought or sold is a resale. The market is completely saturated already and has been for almost 100 years in most places.
However, the percentage of RE entrepreneurs compared to the amount of land available is small. Probably only 1/1000 if even that high.
Don’t sweat it. It only takes a few deals to make plenty of money. Be persistent and don’t worry about what everyone else is doing.
Re: What If Too Many People Get Into The Real Estate Game? - Posted by SCook85
Posted by SCook85 on April 18, 1999 at 16:02:26:
I have introduced a number of people to real estate investing in my area. The real estate investment club continues to bring new people into the arena. I meet new investors all the time. There are many investors in my area and it keeps growing everyday.
With all of this competition out there my business continues to grow. If I sat around worrying about them, I wouldn’t have time to do deals. I figured I would let them worry about instead. I don’t have the time for it.
Re: What If Too Many People Get Into The Real Estate Game? - Posted by JPiper
Posted by JPiper on April 18, 1999 at 13:45:04:
Are you going to keep asking these questions?or are you going to throw your hat in the ring?
There is always going to be competition. And if I were you, I would expect the competition to grow in this business. If you’re looking for a “laydown”, this wouldn’t be the business. As in most types of business, you’re going to need to know what you’re doing, outflank the competition, and work your buns off. There are no guarantees in this life, especially as it relates to this business.
Now I’m off to ponder the question “would a woodchuck would chuck wood?”
Re: What If Too Many People Get Into The Real Estate Game? - Posted by keithk2
Posted by keithk2 on April 18, 1999 at 12:40:18:
More competition usually means that prices for property will get bid up higher and profit margins get trimmed but it doesn’t mean that there won’t be those who still make excellent money at the game.
Remember that 80% of the people in real estate make only 20% of the money. Most drop out of the market when they hear the word “NO” more than a few times or encounter a hostile seller. Very few people have what it takes to make it in this business day after day, month after month.
I wouldn’t worry about the numbers too much. If one part of the business becomes too crowded for your own tastes, there’s always another niche that hasn’t been discovered by the masses yet. Then again, you might need only to stick with your niche in the market longer than the other 80%
Hope this helped
Re: What If Too Many People Get Into The Real Estate Game? - Posted by Bart (FL)
Posted by Bart (FL) on April 18, 1999 at 10:19:10:
How many are too many?
Re: What If Too Many People Get Into The Real Estate Game? - Posted by Brad Crouch
Posted by Brad Crouch on April 18, 1999 at 16:00:32:
Why would a woodchuck chuck wood, if a woodchuck COULD chuck wood?
Re: What If Too Many People Get Into The Real Estate Game? - Posted by John(TX)
Posted by John(TX) on April 18, 1999 at 23:56:04:
You make a good point for Nick to ponder. I love the ever faithful 80/20 rule. (It applies to so many things)
One point to add. If 80% of the people make only 20% of the money, that also means that the other 20% of the people are making the other 80% of the money.
So Nick, as Keith says, stay with it longer than the other 80%.
Re: What If Too Many People Get Into The Real Estate Game? - Posted by REO WOODCHUCKS
Posted by REO WOODCHUCKS on April 18, 1999 at 18:43:49:
If you want to do this business,don’t let the competion
blow you out of the water. WOODCHUCKS DO SWIM !!?Don’t
If it was easy everyone would be in it,you have to look
threw the trees to see the forest,don’t lose heart anything worth while is worth the effort.Wow heavy stuff.
Going across the grain is much more rewarding than the
easy way with the J.O B.Press on and you will see!!
Good Investing WoodChuck
Woodchucks - Posted by JPiper
Posted by JPiper on April 18, 1999 at 17:31:18:
I knew that something didn’t sound quite right in my phrase. Thanks for the enlightenment!
Re: What If Too Many People Get Into The Real Estate Game? - Posted by JohnBoy
Posted by JohnBoy on April 18, 1999 at 16:41:32:
Because a woodchuck could chuck wood???..LOL
Re: The Woodchuck Condunrum revisited - Posted by Bill Gatten
Posted by Bill Gatten on April 18, 1999 at 18:37:52:
My point exactly (had I made one)!
Albeit, in all candor, JohnBoy–in the real world–how many Woodchucks, no matter how well schooled in the art of the chucking of wood (and wholly competent to chuck, should they be so inclined), ever actually deign to take that first chuck?
To become a “Boyamigladidid Chucker” as opposed to remaining a “Boyiwishihadda Chucker,” the chuckor him/herself must be prepared to chuck its little Woodchuck heart out, and know that (especially in the beginning), the “No’s,” “Nope’s,” “No way’s,” “No I don’t think so’s,” and “You gotta be out’a your mind’s,” from the chuckees (i.e., the chuckologically challenged")–the failures–will outnumber the “Yup, you betcha by golly’s”–the successes–by a ratio of at least 25 to 1.
THE “20:80” LAW OF WOODCHUCKING: Statistically, out of every 100 would-be chuckers of wood (“Woodchucks”), only twenty (20%) will ever make the effort (to chuck at all); and out of 100 of those who do make such effort in the beginning, only twenty of them (4 out of the original 100), will be tough enough to stay with it long enough to bring to fruition their first real chuckulation. Most will just say, “Chuck it,” and give up.
Therein, my friend, lies the solution to the age-old Woodchuck Conundrum, as posed most recently by the esteemed Mr. Brad Crouch…as to the capacity of the Woodchuck to chuck wood, considering the doubtful nature of its ability to so chuck: such ability being, of course, speculative at best.
Remember: You can lead a Woodchuck to the wood: but you can’t make him chuck!
Re. the original post about whether we should worry about burgeoning competition, or not: I for one vote…“not.” Are you with me Woodchucks?
ARE YOU WITH ME!?
SAY “AMEN” IF YOU’RE WITH ME!!
Re: The Woodchuck Condunrum revisited - Posted by Zeus
Posted by Zeus on April 19, 1999 at 23:40:51:
AMEN!!! The only competition a person should worry about is themselves and how they are going to do better on their next deal!
PETA Nightmare in Action - Posted by JHyre in Ohio
Posted by JHyre in Ohio on April 19, 1999 at 06:14:19:
SO the great Thwacker of Tweety Birds waxes elequent on Chucking as well. Wicked post. Amen, from a chuck in search of good wood. I would like to hear more about demolitions inclined gophers…yes, it’s the feared Caddyshack question. Maybe we could start a zoo…
In stitches because of your dementia,
Re: I’m ‘achuckin’… - Posted by Scott (AK)
Posted by Scott (AK) on April 19, 1999 at 01:50:50:
Just stay out of my 'chuckin grounds…
Nice post…might have to print this one…it’s a keeper
Scott (woodchucking in AK)
Re: The Woodchuck Condunrum revisited - Posted by JPiper
Posted by JPiper on April 19, 1999 at 24:43:54:
What a riot! But don’t take that as any encouragement! Have you considered the stage as opposed to PACTrust…I mean as it were?
Re: The Woodchuck Condunrum revisited - Posted by Babesy
Posted by Babesy on April 18, 1999 at 22:04:18:
And the congregation said: AMEN!!!
Gee, I love this place.