Posted by phil fernandez on December 23, 2000 at 09:37:59:
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Why seasoned investors give… - Posted by SCook85
Posted by SCook85 on December 23, 2000 at 09:18:14:
There was a post in response to one of mine in which someone asked why a “pro” would give their secrets out to other investors… and all the reasons why a pro might not do it.
Many people responded to the post and the answers were very good, however I do want to ad something to it.
In this season of giving, I have been considering my plans for the new year. I have been blessed with what I know about real estate investing, and it has been made very clear to me that this gift is to be shared. If I hoarded everything I know only for my advancement, I would have less competition, but I would also have fewer friends. Some of my best friends today are other investors whom I have mentored.
I also contemplated what the “secret” is that some feel we have. There isn’t a secret. If I relied upon one method, one secret to get all of my deals done I wouldn’t get to many deals done. Not all deals are the same, you have to change gears and be creative in order to find a way. By helping others, we see more scenarios, we see more situations that we have not yet encountered ourselves and we help other investors to figure out a way, a way to get their deal done. As a result we learn something ourselves and can use the same method on a deal in the future. Most of what I know today, probably came as a result of helping others. Maybe the “secret” that we possess is creativity and generosity. I would be much less of an investor today if not for those who graciously allowed me to help them, who trusted me to not steal their deal, but allowed me to learn more myself by helping them. I would be much less of an investor today if it weren’t for the generosity of all of those who participate on this newsgroup. Would it be right of me to have come here to RECEIVE all the information that is here for free but never GIVE anything in return? I guess it depends upon who you hold yourself accountable to.
I know of investors who won’t share anything, they feel as though everything is one big “secret”. I have to be honest with you, I feel sorry for them, not many people like them. Success and money without friends isn’t anything worth boasting about.
Wishing you all a very Merry Christmas,
and a Successful and Propsperous New Year!
Steve
Deuteronomy 16:17 All must give as they are able, according to the blessings given to them by the LORD your God.
Re: The Secret Is… - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on December 24, 2000 at 18:57:04:
There is no secret. Happy Holidays.
Re: Why seasoned investors give my point of view. - Posted by Tim Jensen
Posted by Tim Jensen on December 23, 2000 at 12:52:39:
Steve,
I think that I may be one of the few seasoned investors on this board that disagrees with you.
I believe that it is bad business to give away your secrets.
I have no problem helping someone out. I have offered up lots of free general and specific advice, but I do not reveal my secrets. Those secrets are what give me my competitive edge. If new investors have some questions about how to get started or where to look for foreclosures, I give them a general direction. However, I will no take them down to the courthouse and show them how to look for foreclosures and what info to take down. That is shooting myself in the foot.
Think about it, would Coke giving away its formula or NBC giving away some new programming that they are planning on running.
Now I am not saying that you don?t help anyone or keep everything a secret, just keep the stuff that gives you a competitive edge to yourself. For example, I have a source to get out of town owner?s name for real cheap. Why would I share that info with my competition?
When looking back on when I got started, I remember that I had some investors offer me some help. HOWEVER, they only gave me general info or helped me on a specific problem or deal. NEVER, did they reveal their secret information that gave them a competitive edge and I understood that. I was not resentful for them holding back, they were just practicing good business. And they understand when I hold back with them now too. I also know of some other investors on this site mentioning how they are more and more reluctant to give out their secrets because, more than once those secrets were used in their market. Thus, they lost a competitive edge.
Merry Christmas,
Tim
I AM NEW HERE, AND … - Posted by Todd (MO)
Posted by Todd (MO) on December 23, 2000 at 11:36:48:
…just want to say “Thank You” to all for allowing me to join in on the fun. I am 37 yrs. old and have been in this business for about 10 years and have seen much greed and selfishness among investors (and have gone to great lengths to avoid it). This is a great group. J.P. must be commended for running such a fine board. She is doing a great job. I have explored other newsgroups where the primary objective is to flame the other people and their ideas in order to build themselves up. None of that here…thanks JP!!!
Great post Steve!!! The real secret to success in this business is the person that you are or aspire to become. The “secret” lies within…but it came from a higher source.
Merry Christmas Everyone!!!
Todd
Re: Why seasoned investors give… - Posted by Tom-Ca
Posted by Tom-Ca on December 23, 2000 at 09:59:39:
Nice one Steve,merry Christmas.