All Forum Posts by: Allen Felker

I am going to start a thread "How Can We Shut Up The Agent Bashers"....that should be fun! We all have a right to post opinions on a social networking site. Right, wrong, whatever...everyone has one. There are those that want to tag me a "hater", "basher" whatever, and they are welcome to their opinion. I don't hate anyone. There are people that promote dishonest and illegal activities. Can ALL of us agree that promoting anything in that manner is wrong? Maybe I should have been a cop instead:) 

This is my last post in this thread. It has been entertaining and in fact one BP friend of mine that I have a business relationship with commented that my posts ARE entertaining:) If I can add value along with a little entertainment I am glad to do so:) 

Folks, "investing" requires an investor to take on a financial risk, it has nothing to do with money in the deal really, a significant risk, not just the chance of losing earnest money, but taking ownership of an asset, accepting ownership and financial risks. 

A flipper is investing in real estate if they buy it, they certainly take on a greater financial risk by making and paying for improvements in hopes of forcing appreciation.

If I buy a house with 100% seller financing, I've taken on a financial risk by signing the note and I take title. Doesn't really matter what I do in the next 30, 60, 90 days or in 5 years, my goal is to make a profit by holding title and paying for that house.

If you don't take title and take on a financial risk with the dirt, you're not investing in real estate, you're an "operator" such as investing your money in options, you might be an options investor but you're not a real estate investor, you fall in to the real estate operators category. When and if you take title, along with accepting financial risks, then you become a real estate investor. 

I didn't take a poll, but most members on BP are operators, not investors in real estate.

When you joined BP, you automatically get tagged by BP as an investor, that is simply marketing hype for the site, it's meant to pump you up, join the exclusive club of "investors" it's simply a cool title for social networking. It's a badge you get to wear on BP, nothing more. 

Everyone has an ego, in psychology we have an "Id" that little character that sits on your shoulder telling you how great you are, we have a mental picture of ourselves as to our social acceptance, this picture needs to be somewhat fairly assessed to be mentally healthy, too much of a higher opinion makes you egotistical and too little is low self esteem, that breads anxiety and depression.     

A good marketeer or sales person plays on your Id to motivate you, this can also be leadership, influencing others to do what they normally would not do. 

If you want to know what makes the "world go round" study psychology, you're constantly being "played", another reason to have a good BS Meter!

So, we will always define ourselves generally a bit better than others see us, keeping this in check realistically is key to our personality. I'm often amused by some of the BSer's on BP, you can spot those whose favorite word is "I" and can't make a post without pumping their ego, then like a room full of junior high groupies following them, they'll dream up more stories to tell. But, it is a social site!

I've accepted the popular term "investor" on BP, I'm amused when newbies begin a post with "I'm an investor in" everyone needs an identity, it's a hard wired psychological need. I don't see any harm in their impression of themselves on BP, but a bit more care might be in order when someone is speaking with someone who really is an investor, one with experience and means as they may be laughing behind that smile, knowing the difference between an operator and an investor.   

I'm not a shrink, but I did read a psychology book once! Okay, several.....

And, Allen, I thought everyone on BP was in the "in crowd" membership status is another ego trip that is sold, (there are advertising advantages with Pro membership) but there is no reason to set yourself on the "outside" unless that is where you want to be. 

All investors and operators are welcome here! Just don't screw it up......

:)

  You're absolutely right, and I apologize for any disrespect. It was an emotionally heated debate and it got to me, but I learned a lot. Thanks

So here's a simple equation that will eliminate some of the super technical arguments.

If you complete the purchase of a real property, then you are an investor.  No matter if you invested your own money or not.

If you do not complete the purchase, as in contract assignment, simultaneous closing, etc. than you are not an investor, you are an intermediary.  But wait you say, I invested money in advertising, bandit signs, etc.  Well, so do real estate brokers, however that does not make them real estate investors; they're still intermediaries.

Nothing wrong with being an intermediary, I hold broker licenses in three states.  And it is not a matter of earnings, wealth, social stigma, etc.  It's a matter of occupational definition.  

I agree with you 100% Don, I'm a true Real Estate Investor and when I find myself at RE events and I'm standing around 15 Wholesalers trying to pawn off overpriced bad product calling themselves investors, it makes me feel reluctant to say I'm an investor because I don't want to be associated with the Wholesalers. Maybe if they stopped calling themselves investors and just called themselves Wholesalers when dealing with everyone there wouldn't be the "ill will" towards the wholesalers.  Sincerely an actual Real Estate Investor!

@Allen Felker I want to let you know that you are destined to be the 2%. You are handling yourself well against the scorners. Stay empowered bro!

I have no interest in arguing, but i an legitimately curious...

What about those that depend solely on OPM to flip? Those people that get loans at 100% LTV and don't use ANY of their own money to fund their flips, just share their profits on the back end. They "buy" houses and technically own the titles, but don't actually have any skin in the game.

I mean, there are books and podcasts and webinars on the subject regularly.

I have never seen or heard anyone scoff at them and call them scum, or claim they aren't "real actual investors". Why not? What's the difference?

Geeez....

felker has now gone to calling people "racists"

his comments about people being raised in certain neighborhoods, with silver spoons also has somewhat of an animosity in it

So, anyone that disagrees with him is now a racists, and I am also MAD because I wasn't born with that silver spoon and momma and daddy didn't shower me with money to make money. Not everyone is born with the same "opportunities" as wealthy people, but we all have opportunities to make of ourselves what we desire. It appears felker has a chip on his shoulder from him past. He is the ONLY person here talking race. I post in many threads with no regard to race. I am glad to contribute to any respectable thread about making money in an honest manner. ANYONE who promotes dishonest dealings will never get a positive input from me. 

@Bill Gulley

The "good ole boy" does seem to insinuate something...yes!