It's official, I'm famous...

15 Replies

Admittedly, I want to share this because I'm really excited about being on CBNC, but I do have a legit question for all of you.

Last week, I was interviewed by CNBC (http://www.cnbc.com/id/102537364) for my rehabbing company in the western Chicago suburbs.  Diana Olick was awesome by the way!  

What is driving me crazy is reading the comments that people posted below the article.  Things like "Here we go again. This time these people who get stuck with multiple homes when the market crashes once more should not get an easy way out of it" and "Lets give mortgages again as well as let the predatory lenders lose again. What is the worst thing that can happen."

I quickly get the impression that the general public has no idea of the difference between a flipper (by my definition, someone who takes title briefly and makes no/little improvement to a property) versus a rehabber (someone who makes significant improvements, creates value, takes the worst house in the neighborhood and creates the nicest home).  I feel that the average Joe is mad a flippers who bought a house during the bubble, only to take advantage of crazy appreciation, who then complained when they got caught in their trap.  Whereas rehabbers are bringing tremendous value into an area that would otherwise be blighted by dilapidated, abandoned homes.

I'd like to hear your thoughts on how to educate the masses on this key distinction, as well as any other opinions on flipping vs rehabbing or other terms that are used in your area.

-Ben

Congrats! That was on the front page for a day or two.  How did you land that? 

That is a hard battle to fight, some people just focus on negativity too much.  I love the one comment "only an idiot would hand over his money to this company" hahaha, must be jealousy.  Keep up the good work.

Some wish we could change the whole world. The reality is you can take up every second of your time making the best responses ever thought up and you will not change many of their minds at all.

Just keep doing what you want to do with your business and focus on that. I work on creating the life and legacy that I want and not worrying about others who do not agree with it or want to change it. 

Medium allworldrealtyJoel Owens, All World Realty | [email protected] | 678‑779‑2798 | http://www.AWcommercial.com | Podcast Guest on Show #47

Wow, some of those comments are very closed minded! 

I think the general public has a skewed perception of what we all do, and not just flipping.  My father in law still makes "slumlord" comments to me all the time.  

Medium second city real estate logo   white close upBrie Schmidt, Second City Real Estate | [email protected] | http://www.SecondCity-RE.com | IL Agent # 471.018287, WI Agent # 57846-90 | Podcast Guest on Show #132

Great video - good job! I wouldn't read too much into those comments because they are coming from a crowd of mainly the "day trading" personalities.  I've been in that business and seen these types of opinions, which mostly stem from their belief that they understand the trajectory of various financial discussions more than the next person, or Big Government, FED, etc. 

It's a constant game of speculation and then pointing fingers when your assertions play out or fail to materialize.  Those comments are coming from a speculative nature of US equities and Real Estate markets being at the historical "top" and therefore negative consequences will likely follow.  Time will tell.  Meanwhile keep fighting the good fight and making that money!  

The comments on that CNBC article are brutal. What I don't think they understand is that the particular crowd funding site mentioned vets deals strictly and only allows accredited investors to invest in their projects. I think that's important to point out.

Medium rzt hc 6483Michael Noto, SalCal Real Estate Connections | [email protected] | 860‑384‑7570 | https://www.zillow.com/profile/Mike-Noto/

Don't take it personal. You could have given a million dollars to a single father charity and half the comments would say you only did it because you hate women. This is the world we live in.

@Ben Walhood keep up the great work and don't pay attention to the comments.  Just remember not everyone will understand what you do.

Just be proud of who you are and what your building for your family.  There will always be haters.  

I'm a slumlord and proud of it!

@Ben Walhood , first of all great job!  Second of all don't let those comments get you down...no matter how much you try to explain what you do there will always be those who find the negative in everything and post comments on articles...

In general, people dislike people who are successful and have money.  Stay under the radar....

I agree with @Michael Noto but I'm not sure that would help as much as we might all like. Lots of people have no idea what an accredited investor is and I'm not sure the media would do the best job of explaining it correctly.

Ouch @Brie Schmidt ! He's probably just jealous. :)

@Ben Walhood

 Those perceptions are one reason why opportunities exist. The thing is eventually they will be correct if the market keeps going up. At some point it drags in the scammers and the quick money types who sell to people who can't believe they missed out and don't want to do the work but want the benefits. Once the initial commenters are right it will reinforce their way of thinking that way so that they miss out on the opportunities from the upcycle created from that downturn and so the cycle goes.  You know after the depression there were a lot of people who thought the stock market was a horrible investment for the rest of their lives as many people with depression era parents will tell you. 

Originally posted by @Ben Walhood :

Admittedly, I want to share this because I'm really excited about being on CBNC, but I do have a legit question for all of you.

I'd like to hear your thoughts on how to educate the masses on this key distinction, as well as any other opinions on flipping vs rehabbing or other terms that are used in your area.

I'm not sure it's worth the time to educate the masses.  The people that commented on the clip were ignoramuses, not worth your time.  But if you want to educate the masses then put together a blog that the masses have access to or get a spot on a public radio station & discuss it.

Ignore the negative stuff and keep up your successful investing. Congratulations!

No company avatar mediumJohn Thedford, John Thedford | 239‑200‑5600 | http://www.capehomebuyers.com