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Other Real Estate Investors....Competition or Opportunity?

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A fairly new real estate investor once explained to me why he gave up trying to buy a property on the courthouse steps.  He said it was a waste of his time because the group of investors who attended these auctions seemed to look out for each other and get all the good properties.

Instead of trying to join them, he shunned them.  Who lost out there?

Successful real estate investors seem to be a pretty close group.  They ride the hills and valleys together and often, tend to help each other out.  I've known quite a few investors who made good business deals buying properties from other investors.  Maybe those other investors needed to get out of one property in order to buy something they wanted more.  Maybe an investor just lost his contractor and wouldn't be able to get a rehab done as quickly as he wanted to.

Networking and getting to know your fellow real estate investors can offer great opportunities for joint ventures, new forms of financing, wholesale properties and gaining new contacts.  Of course, there's always the guy trying to "unload" his money pit to a fellow investor; but for the most part, the opportunities outweigh shunning the competition.
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Tina Merritt is an 11 year veteran Real Estate Agent and Trainer based out of Virginia Beach, Virginia.  She holds a degree in economics from Virginia Tech and post-baccalaureate from Virginia Commonwealth in real estate and land development.  As an avid social networker and internet marketer, Tina helps real estate agents, loan officers and affiliated industries embrace technology.  As a real estate agent, Tina primarily deals with marketing and selling properties deemed "hard to sell" and also works with real estate investors helping them build and/or liquidate their portfolios for maximum profit.

 

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8 Comments

[-] Posted by member1975785 on 09/18/2009 11:59 AM
Great up to date information (411REALTY®) www.411realty.net
[-] Posted by member1782812 on 09/18/2009 4:00 PM
The President has set aside 2.2 Trillion for WALL STREET investors to revitalize the real estate industry. They were given permission to buy trouble assets from the bank. I feel it is absolutely unfair to exclude the LOW INCOME and MIDDLE Class from the deal. Remember, the LOW income and the MIDDLE Class are the one who will most likely pay the TRILLION dollar bill. Throughout these past months, "I HAVE BEENLOOKING FOR A WEBSITE THAT OFFERS THE SAME GREAT DEALS PRESIDENT OBAMA IS GIVING THE FOLKS ON WALLSTREET. It is absolutely unfair to only allow WALLL STREET to buy real estate at bargain basement prices. In the past few months, I have seen REOs priced to fit the budget of the LOW income and MIDDLE Class. A LOW income person could most definite afford a home at $500, $5,000, $10,000, $2,000, and so on. It is absolutely unfair to include one group and exclude another; EXCLUSION IS DISCRIMINATIONL. If you are an investor, and you bought a home for say $5,000, it is criminal to sell the same home to the Public for $500,000! All Americans should be able to buy property for pennies on a dollar. A few months ago, I was thinking, "If I networked with a manager of a real estate agency, "Maybe I could have access to the WALL STREET deals?" Or, what about become a stock market investor. Do you have to be rich to qualify for the WALL STREET deals?
[-] Posted by Shannon Larratt on 09/20/2009 10:47 PM
There are "clubs" in all fields, always look for them if you want a shoe in.They can guide you and tell you who to avoid.
[-] Posted by member1989276 on 09/23/2009 12:15 AM
In making investment there are only two possibilities, it is either you gain or loss, you need to have a full knowledge in any business venture that you are going to make. Remember greater return comes with higher risk. It is your dedication and perseverance that will take you to a successful business operation. Troubled economy taught us to be careful in choosing an investment to put up. It is worth to have cash advance to stabilize the economy.

For more info visit: http://personalmoneystore.com/Cash-Advance/
[-] Posted by member11014021 on 09/23/2009 4:01 PM
2.2 trillion hmmmm
I'm not getting any part of that. I'm not rich, well not rich like the people here. I was foreclosed on lost my home went bankrupt . Boohoo member 1782812. Here is what this Little old poor lady has done. I now know what not to do in getting my home and what i want. First stop crying about what your not getting.
Start out small don't jump in over your budget of loss. Having fallen into that pit myself i can say with out a doubt it is not the end of the world. No one helped me fall in the pit and no one is going to help me out of it. Its been just under two years now. Its not easy and their are things you can't change like your rating thingy trump is so obsessed about. I now have property in FL. KY. and GA Not just property but free and clear property. no partners no payments. I know nothing of wall street deals i just learn watch and buy.
I'm getting ready to do some of those bargain basement prices. New field for me (foreclosures)
checked out the area, history, market. weather its a declining or stable Watched the property's for a good two months seeing who was interested now i placed my bid. We'll see if i did a good deal or i lose. I'm putting nothing in i can't afford to lose. All it cost myself was time. I think spending that time is the best part of investing. Low income people like my self can and do make money. Its we don't stay low income long HEHE
[-] Posted by member1569161 on 09/23/2009 7:17 PM
The President is proving himself more dangerous to the American people than a Presidential leader. I would like to see real estate values drop. As real estate values drop, more investers will be attracted to those properties and put money into those properties and make those properties more attractive.

As it stands property values are remaining relatively high (speaking about my area of the country) so that the government can collect the taxes they want instead of letting property values drop so that more investers like the"upstarts" and those who are not as strong investers as those that have been doing it for years start investing. Our leaders are not selling this country to the right people. We need leaders that are willing to sell the opportunity America offers to Americans.

It almost seems that the government (President) is hoarding real estate for the Wall Street type investors because they are most likely be the one's contributing to his re-election. It is lots harder, in my opinion, to keep someone from falling than it is to allow the fall and pick them up.

Failure weeds out the "Wheenies" and allows those who want to be there a chance to "regroup" and get back into the game.
[-] Posted by member11020475 on 09/26/2009 11:28 AM
HELLO MENTORS, SEEKING ADVICE!!!
I have been trying to study and create a second avenue of income in real estate investing while working full time. It has not been working!! I have saved and saved and have 1 week left at my current job. I am giving myself 6mos- year to succeed in this field. I have books and courses but need the practical experience now! My question to those of you who have been successful is:
WHAT WOULD YOU SUGGEST ARE THE TOP 5-10 THINGS I SHOULD DO FIRST TO START OUT THE RIGHT WAY?
I value any advice you can give. D
[-] Posted by member11014021 on 10/01/2009 1:13 AM
hello seeking advice
I'm not a teacher here and would not presume to give advice that really should come from those who run things here.
personally i use the bbb on renting agents most bbb's will have rating on the different rental co. in that area you are looking to invest in. You must remember if investing and turning over your property to work full time you must trust the co. you are letting manage your investment.
Reading the archives here is a very good stating place, taking some of the free classes as i have mite not be a bad waste of time. It depends on your disposable cash as to with of the paid courses you mite take. Having no disposable cash i read everything i can.
Study the area for a good long look know the place you wish to invest in.
this site has a class called learning real estate investing you really should take a look at.
darn i sound like a commercial, but I'm gleaning a lot from what I'm reading here.
i have taken the less traveled road of buying city property. You must know the area very well to make money with city property's. I'm also trying foreclosures for the first time. I never invest more then i can lose. This means as you have said your giving your self 6months to a year. You must have up keep for that time as well as your investment. Can you set on the property for a year. understand the commitment of the investment. these kinds of things a real time coach would be best at. they have coaches here. i have spoken to one or two. They were open and honest very helpful.
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