Updated over 19 years ago on . Most recent reply
New vs Experienced Investor
without making this a long-winded explanation of every difference between a noob and an experienced investor...because there are so many differences -
the one thing i would like to point out is this one KEY difference:
it SEEMS...
that many new investors go into buying real estate (those that actually do it) and do for instance...a rehab and sell - they purchase it for whatever...but the bottom line is - they purchase it with an exit strategy that is not entirely developed.
an experienced investor has his/her exit strategy developed with 99% of the details worked out. an experienced investor knows BEFORE they buy who will purchase the property, how long it will take and how much they'll make
the new "investor" has an exit strategy that is hanging in the wind.
reason i'm posting this is because i've talked to many noobs...and there seems to be this recurring theme - they're buying houses and then sitting on them because they're not selling.
i'd say the average new investor, when it comes to rehabs - holds their property for over 6 months...
whereas the experienced investor holds for less than 30 to 60 days, depending on project.
opinions?
i'm not saying i'm right - i'm just throwing this out there. :D