WTF is wrong with investors these days?
Engelo RumoraBusiness Member
Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votesWTF is wrong with investors these days?
Most Popular Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesEngelo Good Morning !
I would like to take a stab at this.
I suspect a lot of these folks reaching out to you read BP forums.
And such they like the thought of infinite returns and are OK with max leverage etc.
So keep in mind BP folks are reading the BRRR books and building their Core 4 which has been coined by the folks who man the podcast and wrote a book on remote BRRR ( one of the absolute Riskiest endeavors one can take in real estate by the way).
So to that extent they are reaching out to you to build the Core 4 you just happen to have all 4 of the Core under one roof.
This IMHO is why your getting calls like this. Or e mail requests like this.
Your thoughts ?
261 Replies
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Jay Hinrichs:
Quote from @Elvin William:
Hey guys. I'm going to keep it real. We new investor are looking for property are not dumb. For example, I'm in California, I'm looking for places in Toledo, I never been to that city. So I ask a lot of questions about location and property management if it's turn key. If it's not turn key, I will ask about who gonna fix the property for me. I mean that's your job helping people out. If you don't want to help ppl, than your on a wrong job. Some investor is looking for like all in one shop like Walmart, relator, PM and loan officer. Without new investor, there won't have any business. My wife works full time job, I work a full time work and have two young kids. We don't have time for any issue or problem. We just want them to be done by property management. If there is a main issue, than we get calls and get it done. Stop complaining and do the job. If not, tell them to go some one else who would love to help.
Elvin, full disclosure I was one of Engelo's first Captial Partners and helped launch what has been a very successful TK operation in Toledo OH. Engelo is that full service shop I saw it first hand while we were still funding his inventory. He does all the things you mention and stands behind his product as well as anyone in the industry at least from what I have seen.. Now again to be fully transparent I have not funded anything for him in a few years as he has been able to handle his financial needs internally.
I think the point of this post is clients inquiring then wanting to leverage his connections and experience but not pay for it. In other words .. Hey Engelo source me the deal at cost.. refer your sub base to me so I can hire them at cost. Then when I refinance or if I don't I will get back to you if I want to use your PM services.. I think that's what Engelo is saying..
Since I fund investment Property flippers in 7 states that all sell some version of Turn key I get e mails asking for these types of scenarios as well.. Not as many since many don't really know what I do for a living or the breath of our involvement in providing Turnkey product to investors.
All these contacts and especially the sub contractor base are hard earned relationships through trial and error. And again why I always say the BRRRR and finding your core 4 from your lounger is the most risky thing you can do.. For locals it works great they can be on site daily if they need to etc.
As you so correctly point out there is a vast majority of investors that simply cant pull off a BRRRR and or should NEVER attempt it and if they want to buy investment properties in a market where the price points and cash flow day one are better than where they reside then picking a quality TK provider is one of the best ways to go about it.
Engelo's bed side manner is not for everyone I have known him like I said for over a decade I met him on the Australian version of BP when he posted about buying the least expensive home in All of Australia and that was well documented in that country.
However personality aside I can assure you that he is driven and very serious about his clients well being.. And doing the right thing for them.Hugs and Kisses to you mate 🙏
The Bigger Pockets Godfather = Jay
haha
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Travis Biziorek:
This happens to me daily, so I get it.
But it's really not worth complaining about. Is it annoying? Sure, but these folks will only take as much of your time as you're willing to give them.
And they will take EVERYTHING you're will to give them, firing question after question after question.
My advice, point them to some resources where they can read in-depth answers to your questions. If you need to develop that on your own website, do it.
When it's obvious someone just wants something for nothing I simply link them to a resource. Many times they won't read it and just keep asking questions. I send another link or just say, "Please see my previous link".
I'm always polite about it, but keep it short and don't spend much time answering anything. There's no reason to be rude. Some folks just don't get it and they'll either figure it out or they won't.
Tried this mate and got push back haha
Even get my reputation slandered if we turn down doing business with someone because it isn't a good fit
Folks don't appreciate "Copy and paste" emails or if you ask them back any pre-qualifying questions...
And God forbid getting a VA to reply for you... - Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Nate Marshall:
Quote from @Carlos Ptriawan:
Quote from @Jeremiah Parker:
@Engelo Rumora
Those looking for the quick win with no work is normal these days. Seeing the same thing in the W-2 world. Unfortunately, something has been taught or created within our cultural to take and never give back and to work less but expect more. It is sad, I think this mindset will take a while to change. I think the best is to encourage those to continue to learn and grow their mindset.
this is because culture changes due to quick adaption of social medii. All these instagram/Tiktok(and all the hell that Mark Zukerbergh created) is making the entire generation to want anything instantly, there's guru/apps for that so they don't have to work hard like previous generation (because their friend also able to did it), without any commitment in life. Even kid these days don't want to have kid , they'd rather playing video games LOL
It is affecting more than finances, real estate and crypto. But I got my Lambo...
Same mate,
Got mine also haha
- Flipper/Rehabber · CA · Member since 2023 · 1k+ posts · 1k+ votes2y
Quote from @Engelo Rumora:
Quote from @Nate Marshall:
Quote from @Carlos Ptriawan:
Quote from @Jeremiah Parker:
@Engelo Rumora
Those looking for the quick win with no work is normal these days. Seeing the same thing in the W-2 world. Unfortunately, something has been taught or created within our cultural to take and never give back and to work less but expect more. It is sad, I think this mindset will take a while to change. I think the best is to encourage those to continue to learn and grow their mindset.
this is because culture changes due to quick adaption of social medii. All these instagram/Tiktok(and all the hell that Mark Zukerbergh created) is making the entire generation to want anything instantly, there's guru/apps for that so they don't have to work hard like previous generation (because their friend also able to did it), without any commitment in life. Even kid these days don't want to have kid , they'd rather playing video games LOL
It is affecting more than finances, real estate and crypto. But I got my Lambo...
Same mate,
Got mine also haha
A great thread, very representative of society. I was at a REI meetup and high level investor explained to me that leverage was getting people to do things for free, not borrowing money.
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Alan F.:
Quote from @Engelo Rumora:
Quote from @Nate Marshall:
Quote from @Carlos Ptriawan:
Quote from @Jeremiah Parker:
@Engelo Rumora
Those looking for the quick win with no work is normal these days. Seeing the same thing in the W-2 world. Unfortunately, something has been taught or created within our cultural to take and never give back and to work less but expect more. It is sad, I think this mindset will take a while to change. I think the best is to encourage those to continue to learn and grow their mindset.
this is because culture changes due to quick adaption of social medii. All these instagram/Tiktok(and all the hell that Mark Zukerbergh created) is making the entire generation to want anything instantly, there's guru/apps for that so they don't have to work hard like previous generation (because their friend also able to did it), without any commitment in life. Even kid these days don't want to have kid , they'd rather playing video games LOL
It is affecting more than finances, real estate and crypto. But I got my Lambo...
Same mate,
Got mine also haha
A great thread, very representative of society. I was at a REI meetup and high level investor explained to me that leverage was getting people to do things for free, not borrowing money.
Leverage of getting people to do things for free = taking advantage lol
But I know what you mean.
Was never really my style though
- Member since 2024 · 1 post · 1 vote2y
I don’t know. I’m a noob myself, looking for my first property. I read most of Kiyosaki‘s books and some how I got the book “the book on rental property investing”in my reading list a while back. But this whole cash flow thing has intrigued me for nearly 4 years now. I did a lot of reading and one of the kids I coached baseball for in the spring, his dad speaks exactly the same lingo I do. Cash flow. Other people’s money. Etc. He’s a real estate agent at a brokerage that’s been in his family who knows how long. I sat down and had coffee with him and picked his brain.
He said he’s had so many people do the same thing with him before and most never pull the trigger on their first house. He said that first one always seems to be the hardest.
That being said, I didn’t really approach him until I had built up knowledge first. Sure there’s other things that he’s helped with that are local to this market.
im still reading the book I mentioned above which has been great while I’m preparing to
make an offer on my first house. It’s helping me ask the right questions. I’m on the rules that aren’t hard fast rules right now and I was reading the 2% rule. I think that’s where having the right frame of mind really helps up front because I had that question answered already. In my market it’s a 1% rule. He said anyone who’s anyone in the area uses 1%. The only exception are those who rent to students. There’s a whole different formula because they rent per person and it per unit. We don’t even mess with that.
I say that all because I can see how it can be frustrating. I think for my agent he’s not put as much of the work in to helping me find the house but if I find one I want him to show me he will. He’ll answer questions. But I think once I’ve got that first one under my belt his approach to me will change. Although it doesn’t really need to.
He referred me to someone else in a different market and I think she’s a little newer at the game as an agent but understands the rental side too. But she hustled hard. Just ended up being not much better return for an hour drive. The houses were less expensive so the risk on my end would have been lower but time is money and I could have spent a ton of money driving.
So I guess as a noob myself I’d say we aren’t all the same. But maybe a better approach would be pointing them in the direction of some other resources initially as far as learning more to ask the right questions. My 2 cents - Lender · United States · Member since 2020 · 1k+ posts · 499 votes2y
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
well come on they know your getting a service release premium and back end commission so of course they want a free ride. Or Brokers that just jack up the rate and charge no points and get the rate rebate. :) - 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
Mr. Hero can I ask a quick question off topic about how your appraisal process works.
Back in the day when we did all the BRRRR upfront loans.. my borrowers would get a pre approval of course so I knew they had an exit form my high cost loan. Then the lender would appraise the property for ARV in its current condition .. When rehab was done they would do a 442. and boom docs to escrow within a few days of the 442.. Kind of like my buyers of my new builds do they will do the appraisal a few weeks before CO then when we send the CO its clear to close and we don't start the appraisal process after the Co and have to wait.. this will save your borrowers time and money if this can all be done upfront as the appraisal time lines can drag things. ?? Is bizz done this way on DSCR loans or No. ? - Member since 2023 · 93 posts · 60 votes2y
Are they asking for referrals for contractors and lenders? Presumably those people get paid.
Are they asking to use your management company? You don't work for free, do you?
I have no idea how you made the jump to "everyone wants something for nothing."
It looks like people want to do business. - Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 736 votes2y
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
Yep I tell them that they have been guur'd and the only Lambo the guru will be driving is like mine...
- Lender · United States · Member since 2020 · 1k+ posts · 499 votes2yHey Jay,
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
Mr. Hero can I ask a quick question off topic about how your appraisal process works.
Back in the day when we did all the BRRRR upfront loans.. my borrowers would get a pre approval of course so I knew they had an exit form my high cost loan. Then the lender would appraise the property for ARV in its current condition .. When rehab was done they would do a 442. and boom docs to escrow within a few days of the 442.. Kind of like my buyers of my new builds do they will do the appraisal a few weeks before CO then when we send the CO its clear to close and we don't start the appraisal process after the Co and have to wait.. this will save your borrowers time and money if this can all be done upfront as the appraisal time lines can drag things. ?? Is bizz done this way on DSCR loans or No. ?Can depend on the lender and loan type. For DSCR lenders, pre-approvals require a credit pull and the assumption of the property appraising for near what the borrower states.
The idea is to collect all the docs before appraisal comes back, because once it comes back if all docs are collected, it's straight to final UW review. If it clears UW, then give title 48 hours and you close.
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Timothy Hero:
Hey Jay,Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
Mr. Hero can I ask a quick question off topic about how your appraisal process works.
Back in the day when we did all the BRRRR upfront loans.. my borrowers would get a pre approval of course so I knew they had an exit form my high cost loan. Then the lender would appraise the property for ARV in its current condition .. When rehab was done they would do a 442. and boom docs to escrow within a few days of the 442.. Kind of like my buyers of my new builds do they will do the appraisal a few weeks before CO then when we send the CO its clear to close and we don't start the appraisal process after the Co and have to wait.. this will save your borrowers time and money if this can all be done upfront as the appraisal time lines can drag things. ?? Is bizz done this way on DSCR loans or No. ?Can depend on the lender and loan type. For DSCR lenders, pre-approvals require a credit pull and the assumption of the property appraising for near what the borrower states.
The idea is to collect all the docs before appraisal comes back, because once it comes back if all docs are collected, it's straight to final UW review. If it clears UW, then give title 48 hours and you close.
well we had a credit pull when we made our loan and the take out did it as the same time. The owner did not state value the appraiser actually did an appraisal of ARV values subject to certain things being done.. then they simply went back to make sure those were done and filed the 442 and boom we closed US was all done that was the last step .. my deals in those days were going cradle to refi in 91 days on average.. So we saved the BRRRR investor a lot of money vs a vi holding cost waiting for the refi process.
Hit me off line if you would I will have a few referrals for you . my clients are always looking for lenders that can get it done. - Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes2y
Yeah, I don't know about that analogy but as far as your point goes, it seems like people have wanted something for nothing for as long as I can remember. Perhaps it's gotten a bit worse lately. Indeed, everything seems to have gotten worse in one way or another at least since Covid.
- Lender · United States · Member since 2020 · 1k+ posts · 499 votes2y
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
well come on they know your getting a service release premium and back end commission so of course they want a free ride. Or Brokers that just jack up the rate and charge no points and get the rate rebate. :)I don't think you understand the brokering side with DSCR loans, lol. Lenders don't pay us anything. They stopped paying brokers for bringing them business when Covid happened. Since then, we get paid what we charge the borrower.
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Timothy Hero:
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
well come on they know your getting a service release premium and back end commission so of course they want a free ride. Or Brokers that just jack up the rate and charge no points and get the rate rebate. :)I don't think you understand the brokering side with DSCR loans, lol. Lenders don't pay us anything. They stopped paying brokers for bringing them business when Covid happened. Since then, we get paid what we charge the borrower.
got it just like us HM guys.. good to know.. - Lender · United States · Member since 2020 · 1k+ posts · 499 votes2yI just want to add I didn't mean to sound rude with my comment. I just re read it and it sounded arrogant. Wasn't my intentions.
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
well come on they know your getting a service release premium and back end commission so of course they want a free ride. Or Brokers that just jack up the rate and charge no points and get the rate rebate. :)I don't think you understand the brokering side with DSCR loans, lol. Lenders don't pay us anything. They stopped paying brokers for bringing them business when Covid happened. Since then, we get paid what we charge the borrower.
got it just like us HM guys.. good to know.. - 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Timothy Hero:
I just want to add I didn't mean to sound rude with my comment. I just re read it and it sounded arrogant. Wasn't my intentions.Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
Quote from @Jay Hinrichs:
Quote from @Timothy Hero:
My favorite is when investors reach out to me, a DSCR mortgage broker, want me to find them the best financing, and then say "but I want to save on closing costs, so I'd rather not pay a broker fee".
Those are my favorites lol
well come on they know your getting a service release premium and back end commission so of course they want a free ride. Or Brokers that just jack up the rate and charge no points and get the rate rebate. :)I don't think you understand the brokering side with DSCR loans, lol. Lenders don't pay us anything. They stopped paying brokers for bringing them business when Covid happened. Since then, we get paid what we charge the borrower.
got it just like us HM guys.. good to know..
NP I got it.. I know enough about that end of lending to be dangerous.. I still get the wholesale rates emailed to me but have not studied them in a while and I know that was how lenders were compensated you get the rate from the wholesale lender you mark it up a touch sell it to your client and they give U comp for the difference. I like the full disclosure much better . - Investor · Hillsboro, OR · Member since 2016 · 304 posts · 153 votes2y
"I don't want to buy turnkey, but hoping you would help me find a deal."
Yes! That is going to cost you $500 / hr with a $5,000 retainer.
- Investor · Hillsboro, OR · Member since 2016 · 304 posts · 153 votes2y
Quote from @Engelo Rumora:
Quote from @Theresa Harris:
I would have turnaround and asked them if they work for free?
Unfortunately Theresa that’s the expectation
“I want the best deal”
“I want the best price”
“ I want the best area”
“I want the best service”
“I, I, I”
And some folks seem to be satisfied deep down inside if they get all of the above and the other suffers financially and pulls out the shorter stick per se.
Many don’t know the concept of “Win/win”
Many don’t know that if “I” win also and make money also, “I” can hire more people, invest in tech, make things faster, cheaper and better.
Making them win even more then they would have in the first place.
It’s a shame but it is what it is.
We take it on the chin and keep moving forward
I could have exited the biz many times over last 10 years and sailed off into the sunset while leave investors hanging.
But still here and always doing our best for all 🙏👍
Nate: I'm gonna need that " You've been Guru'd " tee shirt in a Large.
- Chicago Area, IL · Member since 2024 · 54 posts · 49 votes2y
The best client is an educated client. There are many that will take advice and turn around and find a cheaper alternative, but that's part of business. And then they come back when the cheaper alternative ends up costing them in ways they didn't see. People new to REI are still working out their path. The successful ones learn and adjust.
If you don't see any value in helping, you could be closing off a connection that may be useful in the future. If you have a team, then picking someone to work on networking may pay back in the future. Educating someone on how you do things can help align them with your segment of the market. Or teach them that you aren't in the same ballpark and they will find a better product somewhere else. And if someone can't be bothered to help me out, or seems to be in a hurry to finish up, that appears to me like they think I am wasting their time. That they can't be bothered, unless they're making money. But if you can't turn a "browser" into a "customer", then maybe your sales skills need a little help.
Having been in multiple careers already, I have learned that even people new to the trade can have interesting slants on an old idea. So the idea that a relationship with someone new can't possibly be beneficial outside of you selling them your product "right now" seems a little short sighted. Just remember that the internet is forever, and what you post will indicate to possible future connections where you stand. Some people appreciate direct and to the point. Others like to know they aren't just another number. Adjusting how you interact with each connection is just part of being successful. You don't need to go into talking about spouses and kids, but getting to know a little about what they need, and helping get rid of bad information can go a long way to solidifying a relationship. And in REI, they aren't just buying a house they might live in for 20 years and not need another transaction until then. These are contacts that need ongoing deals.
Just as in family, you find people you want to avoid. My point is... Just don't make that decision based on the first thing you hear from them. Work on it. Some are beyond help. Others just don't know any better. Yet. And as they say... If you aren't part of the solution... You're part of the problem.
- Member since 2021 · 42 posts · 33 votes2y
Man. Reading all these comments, I didn't know a lot of new investors are out of touch. Instead of putting down or talking crap about new investors, why not educated them about broker fees and other stuff. You pay what you get. The way I find property is going through HUD section 8 rent. The more rent, the better the location. Than go to Zillow and type the ZIP code with high rent on section 8. Look for turn key or fixer upper property. Look for a realtor who doesn't talk crazy about other people on this site. Than look for a broker who doesn't talk mess about people on this site. Let them help you with property and money. Than get the property, rent them out, good to go. People should not talk mess or crap about how cheap, non educated, annoy they are. Just explain them what step or what they are paying for. You guys want their business and they will spread how good you guys treat them and grow. Talking mess get you no where. That's my 2 cents. It's not high school. Grow up guys. Help new investor the best you can, if not, tell them find someone else who can help. It's sad to hear young grown man complaining. Cheers for 2024
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Christie Gahan:
"I don't want to buy turnkey, but hoping you would help me find a deal."
Yes! That is going to cost you $500 / hr with a $5,000 retainer.
haha true that
And we can hardly get investors to commit a $5,000 refundable deposit on deals as part of our pre-qualification.
Tried offering something similar but never focused on scaling personal consulting so it didn't fly.
Was never really interested in the voodoo boodoo guru BS Instagram promoting, etc...
But I do believe in selling your time and not courses, seminars and all that mumbo jumbo hehe
Thanks
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Elvin William:
Man. Reading all these comments, I didn't know a lot of new investors are out of touch. Instead of putting down or talking crap about new investors, why not educated them about broker fees and other stuff. You pay what you get. The way I find property is going through HUD section 8 rent. The more rent, the better the location. Than go to Zillow and type the ZIP code with high rent on section 8. Look for turn key or fixer upper property. Look for a realtor who doesn't talk crazy about other people on this site. Than look for a broker who doesn't talk mess about people on this site. Let them help you with property and money. Than get the property, rent them out, good to go. People should not talk mess or crap about how cheap, non educated, annoy they are. Just explain them what step or what they are paying for. You guys want their business and they will spread how good you guys treat them and grow. Talking mess get you no where. That's my 2 cents. It's not high school. Grow up guys. Help new investor the best you can, if not, tell them find someone else who can help. It's sad to hear young grown man complaining. Cheers for 2024
Sounds like you would be a perfect "target" for a guru mate.
Lot's of them on here.
Wishing you much success in 2024 and beyond 🙏👍
- Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes2y
Quote from @Dave Hagen:
The best client is an educated client. There are many that will take advice and turn around and find a cheaper alternative, but that's part of business. And then they come back when the cheaper alternative ends up costing them in ways they didn't see. People new to REI are still working out their path. The successful ones learn and adjust.
If you don't see any value in helping, you could be closing off a connection that may be useful in the future. If you have a team, then picking someone to work on networking may pay back in the future. Educating someone on how you do things can help align them with your segment of the market. Or teach them that you aren't in the same ballpark and they will find a better product somewhere else. And if someone can't be bothered to help me out, or seems to be in a hurry to finish up, that appears to me like they think I am wasting their time. That they can't be bothered, unless they're making money. But if you can't turn a "browser" into a "customer", then maybe your sales skills need a little help.
Having been in multiple careers already, I have learned that even people new to the trade can have interesting slants on an old idea. So the idea that a relationship with someone new can't possibly be beneficial outside of you selling them your product "right now" seems a little short sighted. Just remember that the internet is forever, and what you post will indicate to possible future connections where you stand. Some people appreciate direct and to the point. Others like to know they aren't just another number. Adjusting how you interact with each connection is just part of being successful. You don't need to go into talking about spouses and kids, but getting to know a little about what they need, and helping get rid of bad information can go a long way to solidifying a relationship. And in REI, they aren't just buying a house they might live in for 20 years and not need another transaction until then. These are contacts that need ongoing deals.
Just as in family, you find people you want to avoid. My point is... Just don't make that decision based on the first thing you hear from them. Work on it. Some are beyond help. Others just don't know any better. Yet. And as they say... If you aren't part of the solution... You're part of the problem.
Unfortunately we turn down many investors that come to us for various reasons.
One of the big reasons is that if someone doesn't know what they want, I'm not the one to tell them what they should want.
If I used such conversion tactics (Which I could easily do), would smell disaster long term IMO just like it did for many other overnight turnkey scammers promising 15%+ cap rates.
It's not all about money/profit for us and it's also not all about baby-sitting incompetence either.
We have enough "free" online marketing content where a half sophisticated investor can easily come to a conclusion about all of our offerings.
Many try to side step the obvious and want more for themselves.
Building a relationship in business but in life also shouldn't be about "take, take, take" or "me, me, me".
It should be "give and receive"
I bet that many folks can provide or offer some value in return from experience they gained from a W2 or in another way.
Guess how many have offered something of value over my last 12 years of investing?
ZERO
Join the conversationCreate a free account to reply, vote on answers and follow this thread.