OfflineI am planning on sending out emails this week to real estate agenets and mortgage brokers to develop my team. Should I be up front in this email and tell them that I am new to real estate investing? On the one hand, I think this would narrow down my number of responses to follow up with. On the other hand, I am concerned that someone will see this as an opportunity to take advantage of my lack of knowledge for their profit. At the same time, at least the ones I find will know the truth up front and may be more inclined to teach me the processes rather than flying through them and expecting me to keep up. Any thoughts? Please let me know. Thanks!!!
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You Dont have to tell anyone that your new to the Game,If you do they might not want to work with you..Every time you talk to someone you ahould always sound like you know what your talking about.You also dont need to tell them what your doing.You dont need to say that your going to Assign contract or anything..Just tell them that your a cash Buyer
Tell them you are a new, but INFORMED investor. Meaning that you haven't done a deal, but your are knowledgeable and you have a clear plan on what you want to do. Be honest. Once the questions start and you can't answer them, your relationships with other real estate professionals will go downhill very quick. If someone tries to take advantage of you for profit, I am sure you can easily see through the ploy.
Good luck!
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
Most agents who are about their time and money will normally ask how long you've been in the game.
If you tell me you're new, but INFORMED, i'm going to ask you exactly what you mean by being informed.
I personally give all investors a thorough interrogation because i've come across alot of frauds and some lie about what they have done and what they can do.
I've actually spoken with someone from here on DG who sent me a POF from an investor I do business with on a daily basis.
Tell the truth upfront.
Just Tell them you are A Real Estate Investor you do not need to tell them you're new.
I am assuming that Gary is informed ENOUGH to do a deal.
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
Fake it til you Make it, follow the scripts in the books and follow the game plan, isn't that what Dean's message was about tonite, reread the books on the subjest and do what he says to do, stop tring to reinvent the wheel, just follow the game plan. Action + knowledge= success....
"Action and Mistakes" always-outweigh "Analysis Paralysis"
...Just do It"
http://www.linkedin.com/pub/john-hoening/23/2a3/164
"Action+Knowledge=Success....$$$$$$$$$.....
www.WeFlipDesMoines.com http://facebook.com/desmoinesinvestmentproperties
www.iowarealestateflipper.com
RENinja
because Gary is from DG I would take the time to work with him, but one lie or mistruth from anyone and i'm gone.
Its best to know what you know because if I plan on working with you I will not be doing all the work; if thats the case what do I need you for???
As I have done before, I would give the person certain things to do and find out like finding comps and doing a critique of the property so they have a better understanding.
But if I feel you're 'fakin it' with me you won't 'make it' with me.
Its that exact 'fake it' mentality that is one of the main reasons people don't achieve what they want; once you get caught, people don't want to deal with you.
Keep it real.
Be upfront with the agents.
Just as they may want to know a little about you, you will want to know about them. Imagine if you are both not being upfront or honest.
Not all investors are created equal.
Certainly not all agents are created equal.
Life works better when we practice the golden rule.
The one about do unto others as you would have them do unto you.
Be nice to other people.
It just makes life, and doing business, better.
Less chance your deals end up sideways because of misunderstanding as well as it is harder for them to stick it to you if you have been honest and fair from the start.
Trickery has a bad way of coming around and biting people.
I have been involved in hundreds of real estate deals and most of the time they go just fine when everyone is honest and working together. They get sideways real fast when one of the parties is not fully disclosing.
All the best to you.
Happy Investing!
Think Less ~ Do More
Take Action = Results!
If it is to be, it is up to me.
It won't take people more than 30 seconds of talking to you to figure out exactly how much experience you have. (or don't have) Always be upfront, but focus up front on what strengths you have, not your weaknesses. It's like if you went on a date and the first thing you tell the girl is that you live in your mom's basement. Game over. We always start out with our strengths. Then, once we build rapport, hopefully our strengths will overcome whatever weaknesses we may have.
Focus on what you can bring to the table. If you have good contacts, if you're looking at lots of deals, if you have tons of time to put into it, if you have tons of ambition and drive, these are all things that can overcome a lack of experience in the mind of an agent or investor you may want to work with.