What is with investors who don't work with investors?
I reach out to all types of people in attempts to make long term, mutually benfeficial relationships. One thing that continues to happen is negative responses from a lot of the "we buy houses" groups.
Example 1: I had a wholesale deal not too long ago (sold now) and I was on the phone with a supposed investor and I mentioned sometime in our conversation that we were investors. I immediately got a change in tone from this lady with her saying "Well, we're investors also.". Her tone implied that BECAUSE of that fact, there was no way to do a deal. I responded "I figured when I saw the 'we buy houses' sign. What does it matter?".
Example 2: I called someone with "WBH" sign and after saying I was an investor, he immediately said "I don't work with other investors". My response being "If I have a deal that works based on your criteria, what does it matter that I'm an investor?". His response "I'm busy right now, I'll call you back".
And the stories go on and on. One strong indicator of an amateur, at least in my book, is when a supposed investor makes assumptions on how the deal is going to work out without any investigation into the specific situation. I have a 10 unit fixer that I might be willing to allow someone to take "subject to" (short term) and provide partial owner carry. One of the responses I've gotten on it was "Well, if it's a good deal and you're an investor why are you selling?".
My decisions are based on my specific situation. Most investors have limited resources that they're putting to work for the best return possible considering their personal temperament for perceived risk. If I'm looking to sell a deal to another investor, it doesn't necessarily mean that it won't work for them.
My personal guess is that these people assume that because I know what I'm doing, there's no way they can structure a creative deal. And if they're coming from that perception, then I can only guess that they believe that what they do is take advantage of other people's ignorance. I find it to be the opposite for me. Because I'm an investor, I'm willing to entertain creative offers, since I'm familiar with them.
Can anyone give me some insight here? (Sorry for the rant.)