Posted by $Cash$ (NV) on November 29, 2002 at 14:16:55:
Kristine,
Yes, I wore it inside, there was a famous rock group playing at the hotel casino where the seminar was, I was under dressed for the event, the cap is the only thing that saved me, forgot my ear, nose rings and I have no tatoo’s.
In Las Vegas you are considered not properly dressed without a cap on that says $CASH$ on the front.
$Cash$
Does too many investors hurt? - Posted by J.S.K.
Posted by J.S.K. on November 29, 2002 at 09:42:10:
I am still learning, and have not begun to look too hard for deals yet. I am discouraged by the fact that there are dozens of investors already at work here in Las Vegas, which is not the biggest city around. My question is, “Does being around too many investors with more money and partners than me hurt my chances of success dramatically?”
yes and no - Posted by David Krulac
Posted by David Krulac on November 29, 2002 at 16:41:40:
NO, there is plenty of real estate to go around, I could find deals every day of the week. Looked at 3 properties today. There are more properties available than I have time to look at or persue. Time and money are much more critical isues than the number of deals available. I’ve been doing this a long time and at least 95% if not 99% of the people who started when I did have dropped out, sometimes after 1 deal or 10 deals.
YES, Much of the really fantastic deals are NICHE deals. Like a preforeclosure with at least 40% equity in a town of 5,000 people. It just doesn’t happen every day. There may be 2 or 3 a year if that. Well if there are 20 people in town looking for that same deal and there are only 3 a year, at least 17 people are going to be mighty disappointed.
David Krulac
Central Pennsylvania
Too many investors? - I LOVE IT! - Posted by Terry Vaughan
Posted by Terry Vaughan on November 29, 2002 at 11:35:31:
I do a lot of deals (mostly note deals) in Las Vegas. I also live in one of the most competitive areas for experienced investors (San Diego) and still have no competion in either market!
Why?
Because, over the years I have educated myself, so when a deal gets to me I usually have more “tricks” and “moves” than the average investor.
I love deals that have been turned down all over town. By the time it gets to me, I know I have “motivated” players involved, and usually make a whole lot more than anyone expects!
Just keep reading and studying. You will easily outdistance the average player!
Re: Does too many investors hurt? - Posted by JD
Posted by JD on November 29, 2002 at 10:19:47:
Yes, if you are all chasing the same motivated sellers with the same data. IMHO
Re: Does too many investors hurt? - Posted by Rob FL
Posted by Rob FL on November 29, 2002 at 10:14:58:
We have alot of competition in Orlando as well. 500 people show up to our monthly investor meeting regularly. There are 15 ads in the newspaper advertising we buy houses. Bandit signs all up and down the road. I used to look at those people as competition, but now I see them as a gold mine of opportunity. I’ve been collecting email addresses and fax numbers of theseinvestors for a long time. Everytime I get a good deal (which is pretty easy once you figure out a system that works) you can bet that I can find someone to wholesale it to.
Yes, to many in Las Vegas. - Posted by $Cash$ (NV)
Posted by $Cash$ (NV) on November 29, 2002 at 10:10:18:
J.S.K.,
Glad to meet you.
Yes, there are to many investors in Las Vegas.
Actually don’t say you heard it from me but the two hottest areas for investing right now are Tacoma, Washington and Denver, Colorado. Investors there are making a fortune.
John $Cash$ Locke aka $Cash$ of Las Vegas
Re: Too many investors? - I LOVE IT! - Posted by $Cash$ (NV)
Posted by $Cash$ (NV) on November 29, 2002 at 12:16:03:
Terry Vaughan,
Glad to meet you.
You are right in what said, this is what separates the men from the boys, OK, women from the girls, also.
A student of mine ran up against 3 or 4 L/O investors working a property in Las Vegas and walked away with the deal. It was not luck, even in Las Vegas.
This is why Sears, Penny’s, etc., are all located in the same area, bring them all on, he who knows how to market for their audience and can ‘apply their knowledge learned’ wins no matter how many investors are in their market.
Next time you are in Las Vegas, let me know I have a system for Black Jack you might be interested in. Only in case your ‘note deal’ doesn’t work out.
John $Cash$ Locke
PS - I LOVE IT! - Posted by Terry Vaughan
Posted by Terry Vaughan on November 29, 2002 at 11:45:30:
I recently did a deal that many “professional” investors turned down and made over $110,000 on that one deal, and that deal (because the people I’m working with see that I know what I’m doing and can solve their problem when other “professionals” couldn’t) is bringing me more deals where I will make between $300,000 and $800,000 on each additional one I do!
Keep reading, studying and learning. You will get there, IF you want to!
Re: Yes, to many in Las Vegas. - Posted by JRS
Posted by JRS on November 29, 2002 at 17:25:56:
Tacoma, recently named the most overpriced area in the US, has been a hot RE market due to the Microsoft influence and Seattle buyers migrating south. Hardly a place to invest! A fixer starts at 150K!
Re: Yes, to many in Las Vegas. - Posted by James Strange
Posted by James Strange on November 29, 2002 at 10:51:43:
$Cash$,
Are you trying to get the compition to move far away!
Re: Too many investors? - I LOVE IT! - Posted by Terry Vaughan
Posted by Terry Vaughan on November 29, 2002 at 13:03:54:
John:
Thanks for the offer, but I’ve been playing “professional” level Black Jack for some years now. (always make at least $5,000 every trip). I also have my own “craps” table in my game room (my favorite game).
Now if you have a good “bacarat” system?
Re: PS - I LOVE IT! - Posted by Brian Mac
Posted by Brian Mac on December 02, 2002 at 17:48:38:
Mr. Vaughn
OK, I’ll bite.
I can only guess you’re talking paper portfolio’s.
What were you able or willing to do, that the other investors weren’t?
Sans the basics, specifically what should one read, study and learn, to head in the direction of the deals you’re referring?
Thank you
Brian Mac
Re: Yes, to many in Las Vegas. - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on November 29, 2002 at 20:54:21:
Original lost in never never land…
Here, fixers can be anything. A $150k home in Tacoma is not a fixer; at least in Tacoma, WA.
I live in Tacoma, WA; what Tacoma do you live in?
New investing course needed. - Posted by $Cash$ (NV)
Posted by $Cash$ (NV) on November 29, 2002 at 11:10:49:
James,
I think it is to late to drive the competition away. I attended my first ever “Free” seminar hosted by a well known Guru, I left half way through the presentation for reasons which shall remain top secret. The speaker said he had trained 1 million people. This really got me to thinking, let’s say that all the top Guru’s have trained 1 million people each, or about 5 million people have been trained to do creative real estate investing total.
There are 50 states, if we divide this number by the amount of people trained then average it out there are 100,000 investors in every state. Pretty soon we will just be selling to one another. So maybe a new course should be written “How to Sell to Your Fellow Investor for Profit and Fun & Then Have Them Re Sell to You For More Fun & Profit”. What a vicious investing circle unless we give all the investors their own State to move to, I vote for California.
John $Cash$ Locke
Re: Too many investors? - I LOVE IT! - Posted by $Cash$ (NV)
Posted by $Cash$ (NV) on November 29, 2002 at 13:13:05:
Terry Vaughan,
If you buy dinner I will have a Baccarat system by your next visit. Of course I know you are a “Comp” player so I will leave the toke.
John $Cash$ Locke
Re: PS - I LOVE IT! - Posted by Terry Vaughan
Posted by Terry Vaughan on December 02, 2002 at 21:18:41:
This was not a trick question.
This was a deal where I bought a $226,000 note on a comercial property for $110,000. Now I am arranging for a new loan on the property to pay myself off. The bank has plenty of these notes and needed someone to take them out without embarrasing the customer and at the same time forcing the bank to lose too much in discount.
My comment was to the original poster; One (You) should read and study all things related to advancing your knowledge in solving problems for other people. The best money is always made when you can solve the problem when others can’t.
Read the following link for another twist on the type of deals that I do:
How I made $100,000 for one dollar! By John Gault.
http://www.creonline.com/success-stories/ss-009.html
Re: New investing course needed. - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on November 29, 2002 at 14:57:33:
John $Cash$ Lock–(NV)------------
I hope you enjoyed your time there. You just thought the speaker was talking to you. It is standard speaking to look at everybody a few times during the speech so they feel in personal connection with the speaker.
Well, if that person “trained” 1 million “people” there are probably about 10K “investors” who have actually done something with their training. So no we are saing 50K creative investors spread out over 50 states or about 1K in a state. Might make it tough going in Wyoming, as there are only 1K houses in Wyomnin, at last count. [---joke alert–the preceding statement is not a fact–joke alert----*]
Here in CA, a thousand investors? There are probably more than that here in Alameda County alone.
Well, if there are a thousand investors in NV, you may have to give up competing for the houses. Maybe you could sell them a different course than the speakers: “how to actually invest in NV real estate like that smooth-tongued carpet-bagger claimed you could but did not really teach you because he has never done a single deal here, compared to the hundreds I have, which you can check out by looking in the Clark County assessor’s office.”
Good InvestingRon Starr**
Re: New investing course needed. - Posted by Kristine-CA
Posted by Kristine-CA on November 29, 2002 at 11:56:17:
$cash$: what were you doing at that seminar anyway? And CA is already filled with investors selling and reselling to each other. I just haven’t figured out how they make a living doing this…I mean, tax advantages will only go so far…
Whoever it was that trained 1 million people obviously hasn’t done any career surveys or assessment testing of his students lately. Did you leave immediately after he said that? I would have.
Sincerely, Kristine
Re: New investing course needed. - Posted by James Strange
Posted by James Strange on November 29, 2002 at 11:27:19:
That kind of sounds like an Enron deal.
This summer I was working with a fellow from Denver and he told me that the RE market was very hot.
James