WTF is wrong with investors these days?

General Real Estate Investing
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WTF is wrong with investors these days?

Engelo RumoraBusiness Member
Investor 路 Toledo, OH 路 Member since 2013 路 4k+ posts 路 2k+ votes

So I get investors reaching out to me everyday and it goes like this:

"Hi, I know you offer turnkey properties and property management and am interested in the Toledo market, I don't want to buy turnkey but was hoping you could help me find a deal.

Also, do you have any contractor and lender referrals?

I'd also love to work with your property management company"

Diplomacy left me a long time ago so how would you guys reply?

Seems like to me that everyone wants something for nothing nowadays and nobody is willing to put in the work or to pay the margin for someone else that is willing to do the work...

Folks want to "own a monkey", play with the monkey, but not "carry the monkey" or clean it's S#@% when it does one hehe

I guess next time I go to McDonalds, I'll ask them for organic burger buns or where I can find them, I'll bring my own meat paddy and potatoes, get them to make a Big Mac meal for me and maybe I throw some change their way haha

How about those analogies above... lol

Have a great weekend guys and much success with your investing 馃檹

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Jay HinrichsBusiness Member
Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
2y

Engelo Good Morning !

I would like to take a stab at this.

I suspect a lot of these folks reaching out to you read BP forums.

And such they like the thought of infinite returns and are OK with max leverage etc.

So keep in mind BP folks are reading the BRRR books and building their Core 4 which has been coined by the folks who man the podcast and wrote a book on remote BRRR ( one of the absolute Riskiest endeavors one can take in real estate by the way).

So to that extent they are reaching out to you to build the Core 4 you just happen to have all 4 of the Core under one roof.

This IMHO is why your getting calls like this. Or e mail requests like this.

Your thoughts ?

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant 路 San Diego / Phoenix 路 Member since 2021 路 12k+ posts 路 15k+ votes
    2y
    Quote from @Engelo Rumora:

    Happy Friday mates,

    Here is one for S#@% and giggles hehe

    Two different emails one after the other.

    Not sure who told him that I have a big one but I guess the word spread somehow lol

    Sorry for the locker room talk and hopefully you get a laugh.

    Life is short so we gotta laugh whenever we can 馃檹


     Well, you can't please them all! :-)

    1Reply
  • Account Closed
    Rental Property Investor 路 Brooke Park Drive 路 Member since 2018 路 1k+ posts 路 2k+ votes
    2y
    Quote from @Bruce Woodruff:
    Quote from @Engelo Rumora:

    Happy Friday mates,

    Here is one for S#@% and giggles hehe

    Two different emails one after the other.

    Not sure who told him that I have a big one but I guess the word spread somehow lol

    Sorry for the locker room talk and hopefully you get a laugh.

    Life is short so we gotta laugh whenever we can 馃檹


     Well, you can't please them all! :-)


     That鈥檚 hilarious, post more of the angry ones

    1Reply
  • Engelo RumoraBusiness Member
    OP
    Investor 路 Toledo, OH 路 Member since 2013 路 4k+ posts 路 2k+ votes
    2y
    Quote from @Bruce Woodruff:
    Quote from @Engelo Rumora:

    Happy Friday mates,

    Here is one for S#@% and giggles hehe

    Two different emails one after the other.

    Not sure who told him that I have a big one but I guess the word spread somehow lol

    Sorry for the locker room talk and hopefully you get a laugh.

    Life is short so we gotta laugh whenever we can 馃檹


     Well, you can't please them all! :-)



    Depends on who and what you're referring to... haha

    Ok, I'll stop before it turns MA 15+ haha
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    Oz Realty4.5367 Reviews
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  • Engelo RumoraBusiness Member
    OP
    Investor 路 Toledo, OH 路 Member since 2013 路 4k+ posts 路 2k+ votes
    2y
    Quote from @Account Closed:
    Quote from @Bruce Woodruff:
    Quote from @Engelo Rumora:

    Happy Friday mates,

    Here is one for S#@% and giggles hehe

    Two different emails one after the other.

    Not sure who told him that I have a big one but I guess the word spread somehow lol

    Sorry for the locker room talk and hopefully you get a laugh.

    Life is short so we gotta laugh whenever we can 馃檹


     Well, you can't please them all! :-)


     That鈥檚 hilarious, post more of the angry ones



    Let me dig some up.

    I could write a book on this stuff mate...

    They way I look at it, I'd rather them vent to me then to take out their frustrations on a loved one at home.

    There are Dr that can help tho.

    They are called psychiatrists... hehe  
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  • Engelo RumoraBusiness Member
    OP
    Investor 路 Toledo, OH 路 Member since 2013 路 4k+ posts 路 2k+ votes
    2y

    @Account Closed

    Enjoy brother hehe

    Back to back emails lol

    "Flammer" was my favorite.

    I consider it a compliment hehe

    Worked with and still do with many Gay folks.

    Super talented, smart and hard working.

    Well dressed, look after their bodies and always a fun time.

    I draw the line on "Dingleberry" hehehehe

    Funny thing, this fella is a legit business owner and all

    Maybe one day, I'll leak everyone's name... 馃檲

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  • Christie Gahan
    Investor 路 Hillsboro, OR 路 Member since 2016 路 304 posts 路 153 votes
    2y
    Quote from @Mike Lambert:
    Quote from @Bruce Woodruff:
    Quote from @Mike Lambert:

    There is zero way you can compare US and Mexico man, c'mon.....the cartels run the country. Not even inner city Chicago compares to Juarez......don't try and sugar coat it. It is still a beautiful country, I used to love going there.....

    Jay was right.....

    Man I don't think we're all disagreeing about much here and this isn't about anybody being right or wrong. Also, I'm not trying to sugarcoat anything. Without going into the "the cartels run the country" kind of discussion, I'm the first to acknowledge that, sadly, Mexico does have a serious problem with violence. However, as I mentioned it's regional and most people are unaffected. As I mentioned, these are the same disparities as in the US but, as you mentioned and as everybody knows, the level of violence in the US is much less indeed.

    Don't take my word for anything but Mexico's real estate is on fire (and American buyers are a driving force) and so is stock market. More and more Americans visit, move to and buy property there. American corporations are investing billions into the country, its real estate, tourism and manufacturing. You have to wonder why.

    Some people are scared and won't go to Mexico. I totally understand and I'm not trying to convince them that they should, especially since certain areas are getting too many tourists and the infrastructure doesn't always follow. Pretty much anyone and their mother fled to Mexico to escape strict measures during the pandemic and the overall majority of them came back unscathed, loving their experience and are returning regularly. They talk to their friends and it snowballs.

    Since you seem to like the country, I hope one day you're gonna love to go there again. The issues aren't easy to solve but the rise of the middle class over the last decades, record unemployment (even lower than in the US) and massive foreign investment can't hurt so who knows! In the meantime, let me reassure you, I'm not about to plan a holiday in Juarez. Like you, I'll rather roam the streets of downtown Chicago if given the choice. :)


     The sad thing about the cartel / violence in Mexico and South American is that it was all fed by illegal drug use in the United States and Canada.  

    1Reply
  • Nate Marshall
    Real Estate Consultant 路 Evergreen, CO 路 Member since 2018 路 1k+ posts 路 726 votes
    2y
    Quote from @Christie Gahan:
    Quote from @Mike Lambert:
    Quote from @Bruce Woodruff:
    Quote from @Mike Lambert:

    There is zero way you can compare US and Mexico man, c'mon.....the cartels run the country. Not even inner city Chicago compares to Juarez......don't try and sugar coat it. It is still a beautiful country, I used to love going there.....

    Jay was right.....

    Man I don't think we're all disagreeing about much here and this isn't about anybody being right or wrong. Also, I'm not trying to sugarcoat anything. Without going into the "the cartels run the country" kind of discussion, I'm the first to acknowledge that, sadly, Mexico does have a serious problem with violence. However, as I mentioned it's regional and most people are unaffected. As I mentioned, these are the same disparities as in the US but, as you mentioned and as everybody knows, the level of violence in the US is much less indeed.

    Don't take my word for anything but Mexico's real estate is on fire (and American buyers are a driving force) and so is stock market. More and more Americans visit, move to and buy property there. American corporations are investing billions into the country, its real estate, tourism and manufacturing. You have to wonder why.

    Some people are scared and won't go to Mexico. I totally understand and I'm not trying to convince them that they should, especially since certain areas are getting too many tourists and the infrastructure doesn't always follow. Pretty much anyone and their mother fled to Mexico to escape strict measures during the pandemic and the overall majority of them came back unscathed, loving their experience and are returning regularly. They talk to their friends and it snowballs.

    Since you seem to like the country, I hope one day you're gonna love to go there again. The issues aren't easy to solve but the rise of the middle class over the last decades, record unemployment (even lower than in the US) and massive foreign investment can't hurt so who knows! In the meantime, let me reassure you, I'm not about to plan a holiday in Juarez. Like you, I'll rather roam the streets of downtown Chicago if given the choice. :)


     The sad thing about the cartel / violence in Mexico and South American is that it was all fed by illegal drug use in the United States and Canada.  


     Still is. Come to Denver. Denver PD has responded to over 4,000 calls in the last 100 days to the 4 hotels bought by the city to house migrants etc. We even nicknamed the, The TroubleTree and Meth Western. 

    0Reply
  • Steve Smith
    Member since 2020 路 217 posts 路 167 votes
    2y

    Engelo,

    You make a good point, but there's a reason that they are calling you and you can control it and you've gotten a lot of ideas from others, here. If you don't want to talk to them, don't answer the phone. Sounds like you'd be better off doing your own deals and not get involved with newbees at all. Nothing wrong with that, but don't complain when they call.

    And, yes, I'm sure all of us do a bit of mentoring and most of us will do that forever. You don't have to hand carry them thru the process, but just recommend some good training (that's a must!) and let them take the first step. Then mentor if you wish.

    I've found that less than 10% of the wannabes actually buy their first investment. If they get through the first investment successfully many will go onto the second and the third and more. A very small percentage will make it to that multimillion dollar status but it's gratifying to see when one succeeds to that level. Certainly worth the effort.

    We need to remember, we were all newbies at one time.

    0Reply
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