helping other people succeed
Hi everyone,
I have been thinking about this for some time. The culture in real estate investing seems that everyone is out to help each other succeed.
But with wholesaling whenever someone asks me how I create my letters I feel as though I should not tell them because if they have the same success rate as I do, then all the houses around the neighborhood will be flooded with letters asking if they want to sell their house.
In the short term I might be helping out a fellow investor, but in the long run the market is going to get saturated and everyone is going to start finding less deals because the competition will be so high. Every house will be getting like a ton of letters from numerous investors and no one will be getting any deals.
Anyone have a different perspective?
Thanks.
Welcome to BP Niles Bollinger Jr! You are in absolutely the right spot to find the info you need.
I would suggest first going back and filling out your profile a little more. Flesh it out, let us know what you're about! Then mosey on over to the new member introduction forum and start a new thread officially introducing yourself.
After that, follow folks whose posts make sense to you, reach out and make colleague requests, and just soak in what this site has to offer.
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
As one no longer competing or searching for "deals" every day, I find myself with a different attitude. I try to answer ANY questions I receive by e-mail or phone if I have knowledge of the subject. (sometimes I don't, like yesterday on a call from LOC about an appraiser in an area I used to live). There are others on BP that do the same. I can understand different viewpoints, but I've always been available (at no cost) to anyone on BP or not. I think I'm rewarded/blessed for it. Rich
Guys - Lets try to keep this thread on point. If you're looking to find mentors or ask questions unrelated to the OP's post, please start a new thread.
Originally posted by J Scott:
My $.02:- I can safely share everything I know because 98% of people I share it with will never actually get off their butts and execute on it (the sad reality);
This sums it up exactly.
Obviously you can look at it both ways since you could always find reasons to help someone, or not to help someone, if you want to. Personally, I prefer to help others anytime I can because I believe in the "abundance mentality". I think that there will always be enough deals/opportunities to go around, and the more I help others than the more they are likely to help me someday.
No matter how much I think I know, there will always be things that I don't know. And maybe, someone who I previously helped will be able to return the favor and provide the information/experience I'm lacking in.
Originally posted by Kyle J.:
Obviously you can look at it both ways since you could always find reasons to help someone, or not to help someone, if you want to. Personally, I prefer to help others anytime I can because I believe in the "abundance mentality". I think that there will always be enough deals/opportunities to go around, and the more I help others than the more they are likely to help me someday.No matter how much I think I know, there will always be things that I don't know. And maybe, someone who I previously helped will be able to return the favor and provide the information/experience I'm lacking in.
Well put Kyle J. I couldn't have said it better myself!
Originally posted by Alex E.:
Hi everyone,I have been thinking about this for some time. The culture in real estate investing seems that everyone is out to help each other succeed.
But with wholesaling whenever someone asks me how I create my letters I feel as though I should not tell them because if they have the same success rate as I do, then all the houses around the neighborhood will be flooded with letters asking if they want to sell their house.
In the short term I might be helping out a fellow investor, but in the long run the market is going to get saturated and everyone is going to start finding less deals because the competition will be so high. Every house will be getting like a ton of letters from numerous investors and no one will be getting any deals.
Anyone have a different perspective?
Thanks.
Some of the things I have learned over the years is that when you are successful people will try to copy what you are doing. Sometimes they can get it right, most of the time they screw it up because they have no basis for why or exactly how you are doing it. They didn't learn through trial and error, they just copied something. I also have helped people before who have turned around and used what I taught them directly against me. The realty is that when you give someone a tip or if they steal a method from you, it's only going to help them for so long before that method is obsolete. If you have a great understanding of what you are doing you will be able to evolve, innovate and come up with new methods while they will continue doing the same thing.
In this particular type of business, being that most people just work in their home town area, you could alleviate your concerns by helping people in other parts of the country. The other thing I would suggest would be to collaborate with someone who also brings value to the table. It's nice to help people and as someone myself who is trying to learn about wholesaling, I would appreciate any information. However, I don't except that to be a one way street. I have areas that I am knowledgeable in such as internet marketing. I would be more than happy to trade knowledge with someone like you where we could help each other out.
Originally posted by Niles Bollinger Jr:
I am a new investor in Louisiana and would be very interested in a mentor. I have formed a few partnerships with other investors, but most of them are fairly new as well. Any advice is greatly appreciated!
Go Tigers!
New Orleans Area here. New to wholesaling but I have a good bit of experience with Property Tax Sales in LA .