Scarcity mindset

5 Replies

I've been getting in touch with investors in my local market, introducing myself while seeing if there is anything I can do to help/learn and I've found multiple instances where the person contacted isn't interested in getting help or helping because "I don't want to train my competition". My intention isn't to be greedy and steal deals, but rather help find new ones and bring opportunities that otherwise he/she wouldn't come across.. This doesn't happen every time, just more often than I anticipated.

Is this scarcity mindset necessary in real estate investing?

What percentage of investors think like this? 

Looking forward to your responses!

This certainly is not just associated with real estate.  This type of mindset can be with jobs, other businesses, etc. 

It could be that the other parties feel like they have plenty to offer but are not sure what you are going to bring to the table.  Perhaps they would respond differently if you had something that they found of value.

Some people will have the mindset no matter what approach you use.

I think the most effective approach would be to start asking: what does your company need to grow?

If it is something you can provide, then great you have your opportunity.  If it isn't you still learn what is holding back others from expanding and you can be aware of it as you build your company/portfolio.  

I think the most common answer you will get is funding and likely you can't help with that when you are starting out.  However you may run into people who have access to good funding, but can't find enough deals that work.  That should be a good entry point into talking about what you would like to do.  But depending on their needs and your skills there maybe other ways that you can help.

My philosophy is the reverse of this other person.  I believe in teamwork, and I teach it in my REIC and Mentorship.  You can do more as a team than alone.  Just look at the assembly line...an example of team work on steroids.

I teach them to become my partners.  I want my partners to come on board knowing, and believing in what I'm doing.  They're not competition...they're my networking allies.  Microsoft is where it is at today because they are open source for other software vendors.

Originally posted by @Joe Villeneuve :

My philosophy is the reverse of this other person.  I believe in teamwork, and I teach it in my REIC and Mentorship.  You can do more as a team than alone.  Just look at the assembly line...an example of team work on steroids.

I teach them to become my partners.  I want my partners to come on board knowing, and believing in what I'm doing.  They're not competition...they're my networking allies.  Microsoft is where it is at today because they are open source for other software vendors.

 Joe - spoken like a true mentor!!!  love it!!  we run 2 REIC clubs in Southern Calif.

we teach / train  - learn to embrace the competition - they truly are allies - they go into our network data base -we touch them 2 times per week via email

We get a lot of deals from our like minded investors (competition) 

how?? when they're plate is full (at job capacity) - they wholesale us deals!!

Michael Rae

you are always going to find the bad apples. The key is to create a value added to these investors that they see the value to take you on without the risk. The sum is great than one parts as long as its not a leech :)

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