All Forum Posts by: LaMancha Sims

If you have a long-term perspective in real estate, I would dollar-cost average and continue to buy. If you were buying in the last 2 years, you were paying increasingly higher prices so buying today would be a better play overall. It's not about being on the sidelines, but instead it is about finding a motivated seller, negotiating a solid price, and structuring the financing so it remains accretive to the overall investment.

I'm curious, @LaMancha Sims, are you on the sidelines or still buying? And why?

Time to double up

Find a broker you trust and make him/her part of your team. A good broker doesn't want to sell you a product. They want you to succeed. 

We form strong relationships will all our borrowers. This means occasionally meeting for lunch, phone calls to sincerely ask how they’re doing (with no mention of business), and taking an obvious interest in their success. Most borrowers are relatively insensitive to a point or percent and understand the value of the relationship. Not everyone is like that, however.

Every once in a while, we’ll meet a prospective borrower who tries to negotiate us down and squeeze every dime out of a deal. This is the telltale sign of someone who couldn’t spell the word “loyalty” and won’t be around very long. Nothing turns us off more and we won't waste the time. Our terms are fixed.

Even when the prices are good, few of us beyond the tightest of tight will shop where the service is lousy. We have no interest in doing business with them and have no problem attracting others who value a relationship.

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