I hate hearing investors say this...

[Daren H.]

I have been listening to several REI podcasts over the past week. I like to listen to others to see if I can pick up any helpful tips as it relates to finding deals and just business in general. I keep hearing these REIs say "I/We like to buy from the mom and pop homeowners who are less sophisticated." I cringe each time I hear it. I don't know about you, but for me personally, it screams I like looking for homeowners who are financially uneducated about the value of their home so I can take advantage of them. This saying is much different from "I look for homeowners with equity who might be willing to give up some of their equity for me solving a problem". It is different from saying "I look for homeowners with a problem and need to sell their house fast for a discount". All these statements might very well lead to the same financially uneducated person. The difference to me is one person is saying I want someone financially uneducated to match up against me, the supposed expert, so I can take advantage of them. What other reason would you need the homeowner to be "less sophisticated"? Im sure you don't want your lender, inspector, contractor, closing attorney, or title company to be less sophisticated. Just the mom and pop homeowner. Nuts I tell ya!!

I don't like the statement because it makes REIs sound like predators. Just my opinion. Others might not read that much in to it.