Abundance Mentality - Is RE really abundant?

Question

I am really new to REI and don't have experience. I joined Lifestyles Unlimited and am reading Stephen Covey's "7 Habits of Highly Effective People" and both keep talking about having an "abundance mentality". My question is, with so many real estate investors out there, are real estate investing opportunities really that abundant? I didn't know just how many RE investors were really out there until I joined LU and BP. Did anyone else have this question when first starting out? I am going to go through with my REI goals, just starting to get a little scared with so many experienced people out there doing it full time!

Wendell De Guzman · Answer

I agree with @J  Scott and what the rest of the people say here. As a full time investor, I am still amazed how many people don't take advantage of all the deals out there. I bought 2 houses last week and I just bought another house this week. So, yes, there is an abundance of deals. What is lacking in my opinion, specially for new investors and attendees of "guru seminars" is having the GUTS of just making offers. Most newbies procrastinate and not do anything...or they over-analyze a deal and they let a good deal pass them by.

Jean Bolger · Answer

There are plenty of real estate investors (and plenty more who are "interested" and looking into it, for instance here on BP)

But there's a heck of a lot more real estate than there are investors. Try this trick: Go for a walk around your town. Start adding up your guestimate of the value of every building you see. The amount becomes staggering really really quickly. All that "value" is being passed from one hand to another... individuals, institutions... it's just moving around. You don't have to beat someone else out to corral that value and hold it down; you just have to get in line and be part of the flow.

Anthony Gayden · Answer

The deals are there, most people just don't see them. When the market was rising like crazy people made a ton of money flipping houses. When the market fell, people bought a ton of property for very cheap and buy and hold investors made huge returns.

The key is educating yourself on your market. I am doing a ton of research right now on the markets near where I live with hopes of becoming very successful.

J Scott · Answer

Short answer -- there are plenty of deals out there and most people aren't really making a serious effort to go after them. Sure, there are lots of people here on BP and lots of people signed up for the guru programs, but most of them won't ever purchase a property.

So, the abundance mentality certainly works for me...

Chris Adams · Answer

Well right now I have far more deals than I have funding. And my radius is pretty small.

I will assure you there are far more deals than qualified investors. The vast majority of REI are adding 1-2 properties a year and working a full time job. Once you get to the level of investor that works on investing full time, the numbers diminish quickly.

Abundance Mentality - Is RE really abundant?

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