Arlington, TX · Member since 2017 · 12 posts · 1 vote
I'm just curious as to opinions/feedback from investors with any experience in Real Estate Investing whether it is a great deal of experience or a very minimal. Would any of you say this is the wrong time for a new investor to get in to this business since it seems like this is what everyone is doing (especially in the DFW area), I mean there are investors paying all cash for houses now whether they are flipping or buying and holding. Even investors I know personally or friends of mine that are looking for houses to call home or to invest in they are being out bid by thousands of dollars. Or would you say that new investors have just have to work that much harder to get started? Please elaborate on your response as to why you feel the way you feel about the question any feed back is greatly appreciated. Thank you in advance BP
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
9y
They just have to work harder to find the deals. In tight markets, good deals aren't going to be found on MLS, but in beating the bushes for off market deals.
Long, long ago ... when I got my real estate license, I was selling more than anyone else in the office. The more experienced agents couldn't figure it out. People would call and knowing all the inventory on the market in the county (I did the advertising for the office too) I knew exactly which property would fit for them, took them out and sold them. At the time the interest rates were upwards of 18%. All the "experienced" agents were sure there weren't buyers that would pay that high of interest so didn't try. Me being the newbie needing to make some money didn't worry about it. In other words, get past thinking about how hard it is, and get out and find the deals.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
9y
They just have to work harder to find the deals. In tight markets, good deals aren't going to be found on MLS, but in beating the bushes for off market deals.
Long, long ago ... when I got my real estate license, I was selling more than anyone else in the office. The more experienced agents couldn't figure it out. People would call and knowing all the inventory on the market in the county (I did the advertising for the office too) I knew exactly which property would fit for them, took them out and sold them. At the time the interest rates were upwards of 18%. All the "experienced" agents were sure there weren't buyers that would pay that high of interest so didn't try. Me being the newbie needing to make some money didn't worry about it. In other words, get past thinking about how hard it is, and get out and find the deals.
Arlington, TX · Member since 2017 · 12 posts · 1 vote
9y
Thank you very much Karen Margrave , that is just what I was looking for. I have my mind made up as far as Real Estate investing being what I want do. It's great to hear other investors stories or points of view. This is very much appreciated.
It's a lot of work to get into any business. As far as RE, I see people making money in upmarkets and down markets. You just have to use different tactics. And you'll constantly have to adapt to the current markets and laws. For years people have been outbid on houses so that's nothing new. If you wait for the perfect time you will likely never do anything.
Arlington, TX · Member since 2017 · 12 posts · 1 vote
9y
Thank you David D Painter you are absolutely right. I didn't realize the outbidding has always happened, that's good to know. This is all very helpful thank you.
Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
9y
@Account Closed nothing beats hard work, nothing. Hit the streets, meet as many people as you can, find mentors, make phone calls, out work the person to your left and right. You can be succesful no matter the market! Best of luck!
Arlington, TX · Member since 2017 · 12 posts · 1 vote
9y
Jeff Wallenius you are 100% correct. Thank you sir, that was very encouraging. I'm no stranger to hard work and really looking forward to getting this going. Thank you again and good luck to you as well.