Time Wasters - how do you spot them?

Question

I want to have a little fun with this post...what are some of the signs you see when dealing with investors that tip you off they are wasting your time?

I'm sure this will get pretty humorous! :mrgreen:

Aaron Mazzrillo · Answer

Every time I talk to them, they have a completely different business model. One day they are wholesalers, next condo investors, next looking to rehab some houses.

Nick J. · Answer

A lot of really good responses.

When they tell me they started investing for 2yrs ago and haven't done a deal yet.

Thats about the time I turn them into bird dogs. If they're too scared to do deals, they can just bring them to me :)

Max Drizin · Answer

The worst ones are the ones that want all of my financial statements that could ever exist.

Sometimes, it's an investor that wants to see the five year pro forma for a property I have an offer on. Then, they want the "best" and "worst" case scenarios for the pro forma. Then, they want ten-year documents. They want all the other pro formas for my other properties, the rent rolls, what my projected and actual rents are/were, twenty comparable properties in the area, a detailed description of every tenant in the property, the possible effects of the place being a rooming house versus an apartment versus an owner-occupied versus an airplane or whatever else they can think of.

Then, there are sellers that apparently can't take me seriously. I like to move fast with my deals. If it's logical, I do my best to pay cash for a property. I don't put contingencies in my deals. I've worked with inspectors before, and I know that they are worthless enough that I can look at basement walls and see the roof on my own when I drive past the place, I don't need to spend a few hundred dollars and lose a property because I wanted to waste my time with some "inspector" who has a flashlight and a checklist. I have your rent roll, your expenses, and I've been through all of the units. That is plenty to make a decision.

Typically, it isn't even time wasters that they won't ever work with me, it's that they aren't the trouble. I won't put weeks into scouting and negotiating one property, I could do several deals in that time. People need to understand that investment isn't like choosing the house that they want to live in, there's less time to act.

NA Foster · Answer

In Texas they say,"Big Hat-No Cows." LOL

Mitch Kronowit · Answer

When they say there is this class, seminar, or bootcamp I simply must attend.

Account Closed · Answer

My father taught me that when I talk to them "they are like nailing jello to a fence."

So far it has been 100% correct for me.

Jason Wheeler · Answer

When they needed an approval or proof of funds letter yesterday but refuse to fax you a contract or escrow info...

Account Closed · Answer

I know I have found a time waster when they are talking amount no money down deals and asking newbie questions like what is a good deal and where can I find them.

Chris Weiler · Answer

When someone asks for funding and it HAS to happened in the next two days.

Tre Holloway · Answer

thats a good quote, right there. im not trying to waste anyones time and i was hoping that someone would be interested to get a deal going.

Time Wasters - how do you spot them?

Time Wasters - how do you spot them?

Most Popular Reply

18 Replies