5 Tips For Not Looking Like A Newbie Investor

March 20, 2013 in Getting Started, Investing In Real Estate

 

5 Tips For Not Looking Like A Newbie Investor

Does this sound like you?

It’s every new real estate investor’s nightmare. You go out on your very first appointment and you are trying so hard not appear to be “brand new”.  You’ve attended all of your local REIA meetings for a while, and you make it a point to hang around after the meeting and network with the “pros”.  Every week you pick up a new book or another home study course, and you are carefully following what other successful investors are doing.  Even though you have done a lot of studying, you still feel scared to death on the inside; in fact you are sure they are going to figure out that you really have no idea what you are doing.

 

Your Very First Appointment

Once you get to your appointment, you settle into an easy conversation with the seller. You are actually thinking you’re doing great!  After spending an hour at the house, you reach this point where you don’t know what “comes next”. You shake hands; thank the seller for their time and leave.

 

What Just Happened?

Well, you forgot to try to “close the deal” or leave a “what comes next” plan with the seller.

Many times the seller isn’t ready to accept your offer at this first meeting and that’s OK. My question to you is, “did you even make an offer”?  If not, did you tell the seller that you wanted to go back to the office and put some firm numbers together then call him back tomorrow?

Here’s the thing; when you are just starting out you will almost always be calling the sellers back with your offer. The simple truth is that everyone lacks the experience in the beginning to make an offer on the spot which is to be expected. But they should be expecting your call the next day. That is the one piece of information that should have been left with them before shaking hands and getting in your car.

 

The Cure for the First Newbie Mistake    Read the rest of this entry →