Posted by Jim NJ on July 08, 2009 at 15:30:11:
In Reply to: Re: Small Real Estate Development posted by Edwin on July 06, 2009 at 00:18:30:
Rehabbing houses is actually what initially sparked my interest in Real Estate Investing. I was in my early 20's and bought all the courses, but of course they overwhelmed me with information and being that I was young I had no confidence and hated dealing with people when they called me.
After studying the courses over and over I realized that rehabbing houses isn't what I thought. The deal isn't about the property. It's about the people and finding motivated sellers. That's the part of Real Estate Investing that I didn't like and I wasn't any good at and that was probably why I put it on hold.
After all the studying everyone made me feel like I needed to find the absolute perfect deal or I'd make a huge mistake. I would see questionaires people would use to figure out the motivations of the sellers. Some I felt were invasive and I wasn't comfortable getting that personal with a seller. I also had no interest in weeding through hundreds of phone calls asking each person to answer a 70 question survey just to find that 'perfect deal'.
Basically, my interest lies in the property, not the people. And I know I'd make a fraction of what other investors will make, but at least I'd be happy with what I did. I dealt with a lot of sellers years ago and I don't have much interest in dealing with so many people in which 99% of them all think you're out to scam them in some way. If there is anyway around this when rehabbing houses I'd be all for it. But if there was a way I'm sure I would've found it by now. And it's not that I'm not willing to put time and effort into a project, but I do wanna be happy while I'm doing it. I'd rather spend two hours lifting heavy piles of wood rather that be on the phone for five minutes with a seller that has a bad attitude.
- Re: Small Real Estate Development Natalie-VA 09:44:59 07/09/09 (0)