Crying? There’s no crying in CRE??? - Posted by Stew(NE)
Posted by Stew(NE) on November 07, 2002 at 16:20:31:
Sorry, couldn’t resist.
Re: Blowing my first L/O contact-Help! - Posted by Smith
Posted by Smith on November 07, 2002 at 15:28:13:
Brian, there’s no lying involved. Everything I do is above board. The last thing I need is to have a misunderstanding with seller about exactly how I will buy the property.
You are obviously a sensitive guy. I’m not bashing you. You’re fine. But, I do want to be truthful with you. This REI gig requires a tough attitude at times. The ability to be sure of yourself, your morals, your motivation, and to be steadfast when bad things happen like this, is very important.
Now there are a few things you can do. First, you could take this as a learning experience, recognize that you’ll have to make some emotional adjustments if you want to succeed in this business, and move forward. This was only ONE of the imbecils you will encounter in this field. There are many others out there. Deadbeat renters. Incompetent mortgage brokers. Self-serving lawyers. Other greedy investors. The list goes on. Please know, though, that the majority of the time REI life is fairly smooth. These upsets are the exception, not the rule. Also, realize that you WILL encounter jerks in ANY persuit, and in daily life itself.
The second thing you could do is to admit that this business isn’t what you thought it would be, and look elsewhere for opportunities. This is perfectly alright! Not everyone is suited for this business. Why would anyone want to pursue a field that would make them miserable? If you don’t want to change your emotional center to flourish and enjoy this business, by all means move on to something better suited to your psychology.
The last thing you could do is to quit seeking a better financial future, and just return to being a drone in the behive for the rest of your life. This would be an absolute mistake. Whether you decide REI is your gig, or persue other opportunities doesn’t matter. Each is equally noble and acceptable. But don’t let this moron kill your spirit.
Buy Low, Sell High? - Posted by Adam (Austin)
Posted by Adam (Austin) on November 07, 2002 at 23:00:20:
Maybe I’m not understanding you correctly… but now you’re questioning the pillar of capitalism, “Buy Low, Sell High”?
Re: Blowing my first L/O contact-Help! - Posted by Bryan-SactoCA
Posted by Bryan-SactoCA on November 07, 2002 at 16:39:17:
Actually, I DID post an analysis here under the subject “Bitten by a pro”. This prospect 1) said that he calls so many flyers and ads that he can’t remember them all and 2) refused to tell me anything until I told him what I was doing. I should have just told him that I can’t help him and hung up. (I ultimately DID hang up on him when he started ranting about what an evil person I (supposedly) am.) I also realized that my phone isn’t caller ID blocked. I took care of that about an hour ago. And yes, I did use the term “market value”. I need an actual sales script. (Tom Hopkins says that salespeople who “wing it” usually get shot down.) Does anybody have any suggestions as to what I should use in my script and how to deal with callers like this guy who wants me to do all the talking? What BS do you encounter with sellers, and how do you deal with it? Email me at pezar@midtown.net.
huh? - Posted by michaela-ATL
Posted by michaela-ATL on November 08, 2002 at 04:43:29:
if you had read the posts correctly, you would know, that it’s bryan, that seems to think, that ‘buying low and selling high’ means scamming people. i just tried to make him think about the fact, that this is being done everywhere.
michaela
If You Believe You Are Taking Advantage, then… - Posted by Craig(SoMD)
Posted by Craig(SoMD) on November 07, 2002 at 18:50:46:
You have said in your posts here that YOU believe you are scamming people. So just what did you tell this person? Did you tell him that you were going to L-O to a T-B at a higher monthly rate and a considerable mark-up? If you did, then you screwed up with the seller. In doing a L-O deal, the one thing that I know, without a doubt, is that I can create a WIN-WIN-WIN deal. The seller wins because I can give him the price he is looking for and take care of his or her problem of debt relief(and a host of other possible problems). Really, the ONLY exchange for that is to give me a little time to close the deal with him and pay him off. The ONLY thing I talk about with the seller is how I can solve HIS problems and make sure he wins. I emphasize that there really is a deal only if we can come to an agreement where we both benefit. The seller will know that I am an invester and that I intend to put a qualified Buyer into the house.
Then, with the Tenant-Buyer, I know that I can also come to an agreement that is beneficial to both of us. They will not necessarily have to pay up front everything they would have to if they were buying. They don’t have to go in and qualify for a loan right away. I’ll work with them to get them qualified. And possibly, they will be getting a house that appreciates in value to more than the price they will have to pay to me. There could also be other benefits.
And with this whole arrangement, of course I will win also. How am I scamming anyone when everyone is getting something beneficial to himself?
Craig
Re: Believe You Are Taking Advantage - Posted by Bryan-SactoCA
Posted by Bryan-SactoCA on November 07, 2002 at 19:42:44:
Yep, that’s what I told him. I was being too honest I see. Isn’t that what it’s all about-buy off some schmo for pennies and then mark it up for no reason and sell it to another schmo? Isn’t that the essence of profit-making something for pennies and selling it for max $? I see that fortune is made from crime. Unfortunately, I can’t get hired anywhere because of my disability so this is the only option I have.
Re: Believing in What You Do - Posted by Nate(DC)
Posted by Nate(DC) on November 07, 2002 at 22:33:23:
Bryan
Until you believe that what you are doing is okay, you will have a hard time convincing anyone else that it is okay.
It sounds like you thought “we” (the CRE folks??) had convinced you that it was okay, but in fact we have not done so, since when challenged you reverted to your old way of thinking (it’s a scam).
So, I challenge you: do you really think it’s a scam, or not? If so, STOP NOW. You will not succeed if you don’t believe in what you’re doing. And if all the reasoned analysis from others, reading you’ve done, etc. etc. doesn’t change your mind, then just accept that and move on. Maybe your world view doesn’t fit with the one you need to have to do this business. If that’s the case, there is nothing wrong with that. Just be honest with yourself and don’t keep trying unless you are truly convinced - I don’t mean like before, where you kept telling yourself you were convinced in order to push yourself to move forward - I mean ACTUALLY convinced, like your internal compass changed.
I have friends who truly believe that the concept of private property is abhorrent. They are not in this business. I shudder to think what would happen if they tried to be. And furthermore, they don’t WANT to be.
Good luck,
NT
Re: Believe You Are Taking Advantage - Posted by michaela-ATL
Posted by michaela-ATL on November 07, 2002 at 20:32:23:
bryan,
when you’re buying a property, you’re not dealing with some schmo. you’re dealing with a real-life person, who is, for whatever reason, in distress. the property is creating a problem for them and they’re looking for a solution. the solution usually is to get them out from under their payment in some way. if you can give them that, than you’re solving his/her problem.
the same when you’re selling. if you’re looking at buyers and sellers as some schmo, then you will have a difficult time in this industry.
have you ever gone to the cvs store around the corner there and bought some potatoe chips, because you had a craving? were you willing to pay a higher price than the 3 mile away grocery store? did they solve your problem (a craving for potatoe chips?)? did someone hold a gun to your head to pay more? did they scam you or did they provide a solution to your problem, that you preferred to the alternative?
michaela
Re: Believe You Are Taking Advantage - Posted by michaela-ATL
Posted by michaela-ATL on November 07, 2002 at 20:31:54:
bryan,
when you’re buying a property, you’re not dealing with some schmo. you’re dealing with a real-life person, who is, for whatever reason, in distress. the property is creating a problem for them and they’re looking for a solution. the solution usually is to get them out from under their payment in some way. if you can give them that, than you’re solving his/her problem.
the same when you’re selling. if you’re looking at buyers and sellers as some schmo, then you will have a difficult time in this industry.
have you ever gone to the cvd store around the corner there and bought some potatoe chips, because you had a craving? were you willing to pay a higher price than the 3 mile away grocery store? did they solve your problem (a craving for potatoe chips?)? did someone hold a gun to your head to pay more? did they scam you or did they provide a solution to your problem, that you preferred to the alternative?
michaela
Apology - Posted by Bryan-SactoCA
Posted by Bryan-SactoCA on November 08, 2002 at 09:20:44:
I’d like to apologize for this comment. I put it up and then immediately wished I could erase it. This is me being depressed and saying stuff I don’t mean. I don’t know how many of you were here in the old days when I was trying to decide if it was a scam or not, if you do then you know I have deeper emotional issues than just lease options. This morning, I feel different (a good night’s sleep always helps). I was an anarchist when I was in my early 20s. I know now that socialism is an impossible utopia, but every so often I get doubts about capitalism, then I read a part of The Black Book of Communism. Do I REALLY want to be part of an ideology that has killed 100 million people in the pursuit of revolutionary perfection, or do I want to embrace capitalism which has resulted in a standard of living that would be the envy of any king of the middle ages? I know that I’ve made my decision in favor of capitalism, but it’s hard to completely get rid of the old ways of thinking, especially when I had so much invested in it.