Last night, I was just browsing around and reading a couple of posts on some other rei discussion site and I saw a title that struck me. The title said, “You’ve got to lie!” So as I wondered what the heck this could possibly mean, I clicked the title and that’s when I saw the post.
This guy talks about lying to get your first couple of deals. He tries to justify this method by saying that sellers want to only work with successful people; they want to work with people that have experience. He was begging the question of, “Why would someone want to do a deal with an investor who’s never done a deal”. He said you have to lie and say things like, “I just bought 3 homes last week and I’d like to buy your home this week”.
He went on to say that by lying you are giving you and your buying program credibility. Then he ended the discussion by saying this, “Anyone that says not to lie, tell them to put food on your table, pay your bills and you won’t. Otherwise go for it”
So after I finished throwing up from reading this garbage post. I went back in to see the replies.
The response from others
This guy got slammed! Investors were coming out the woodwork to respond and give their 2 cents. I don’t think one person agreed with this guy. He tried to go back and forth with them saying that this method helps investors and that is only used to get the deal and blah, blah, blah.
So what was really said to combat someone like this… It comes down to one word!
Your integrity is the only thing that adds credibility to you and your business. Many investors tell you that your first deal is the hardest. I got that, but to lie in order to get it is unethical and you may putting yourself down a road that you don’t want to go down. They type of investors that lie, in my opinion, end up being the type of investors we hear about that commit mortgage fraud, foreclosure scams, and various other scandalous schemes in order to make money.
If you are honest and forthright with a seller, and you come to them from a genuine position of strength, then they will most likely always give you the deal. (strength was another thing this liar tried to use in his justification).
Don’t get tempted
I don’t care if it takes you months to get a deal. Heck, it took me 2 years to finally get my first deal, but I never need to lie to get that deal, or the one after that, or any to come in the near future. Yes, I understand that you need to put food on your table. I understand that you may have a family you need to take care of. However, your integrity will seep through in your dealings with a seller and you will sleep at night knowing your ethics aren’t at stake while doing everything you can to take care of your family.
Getting that first deal is tough, but its easier when you reach out to others for help. Network with like minded individuals.
I’ve known many investors who have told a seller, “I have never done a deal, so this will be my first one.” Then the seller responds, “Ok, well go for it”. They don’t really care as much as you think they do. They want to get the home sold. A method I used was that I would always put it on my partner, so if they asked me, “Have you done a deal like this before”, I’d say, “Well, I’ve been working closely with my partner who has alot of experience doing this, and he’ll most likely be helping me out on this one, but I’ll be leading the effort to get your home sold.” That was the truth! They respected that and we moved forward.
I’ve rarely been asked this question, but when I have I’ve just been honest about it. If you want more experience to speak off of when you’re speaking to a buyer or seller, be confident, partner with other investors, do what you say you’ll do, and do more deals.
To Our Success,
J. Lamar Ferren
New Breed Investor
Ps. Do you feel it’s necessary to lie in order to get that first deal? Why or why not?