Question for Advanced and Newbie Investors

[REITVShow]

What is the biggest challenge that real estate investors face today?

[justin0419]

For newb investors:
The ability to put together a money making deal.  Gone are the days where you could buy pretty much any property and have it appreciate no matter what.

For experienced investors:
Access to credit.

[yrush2000]

LACK of KNOWLEDGE.   Everyone wants to find a short cut to the golden arches.  LEARN LEARN and LEARN before you venture out and start doing deals.  Read books, boards, etc.  Join the local REIA clubs and find a local mentor to help you along. 

This is a business where you can financially ruin yourself with one deal credit wise or cash wise.  In fact there are TONS of investors who have horrible credit and can only wholesale and birddog because of the lack of credit now. 

Remember to practice what you preach and not what you want...

#1 rule.  Never fall in love with the property, fall in love with the working numbers (it is an investment property, not your personal home your buying)

[chunkoftheearth]

Great question.

I'm from Canada, so the recent money problems didn't hit us nearly as hard as it did other countries.

I visit these boards semi regularly and I'd have to say the biggest challenge for investors these days is KEEPING FOCUSED in light of all that's gone on.

Hard for some folks to keep going when they hear all the bad news on t.v, radio, papers, other investors.  I think it's a perfect opportunity for folks to pick up deals now when everyone else is scared.  Learn a new type of deal or expand your marketing or whatever.  But just stay focused and do your thing.

[jmd_forest]

Finding properties at a price that allows a profit, whatever your exit strategy is.

jmd_forest

[MichaelQuarles]

Hello,

For the new investor the biggest challenge is GOYA... (Getting off your Fanny)

For the seasoned investor it is retooling for todays market. Be it marketing, capturing opportunity or reselling...

Its fun out here...

Michael

[redhawk]

With the foreclosure market now their is a deal a minute, they are not hard to find,so that leaves financing. Financing is the biggest hurdle for all investors right now.
redhawk

[ReCoachDennis]

For many real estate investors, especially newbies it's getting something done.

Many times newbies go from program to program, course to course thinking that an accumulation of knowledge is what leads to success.

The main thing is to learn something simple like wholesaling and apply it. Really it make it work and then move on. the additional strategies will be like tools in a toolbox use to get more deals done or sweeten an already good deal, but you have to get started.

Secondly, it's cash flow. You have to have a constant supply of deals going to keep up with the demands of your business. It can't be a one and done thing.  Deals should be building up in your business pipeline

Dennis

[John_in_NC]

Mods,

When are we going to ban these scammers calling themselves "Mentors" and "Coaches"???

Everytime I see one of these idiots claim to be an expert, I remember why I don't post in this section anymore.

[MichaelQuarles]

John...

Since I am both an Investor and mentor, and frankly extremely knowledgeable in investing, I have bought a couple houses over the years,  I am going to assume that you just called me an idiot...

Was there a reason that you felt it necessary to chastise people who help while at the same time promote? Did you just wake up on the wrong side of the bed? And frankly you should either keep your opinion to yourself or help us help those that ask questions.  Doing what you did only makes you out to be the idiot.

In the past I have asked my peer group to tone down the advertising and this insecurity you have for people who have a passion to teach is rather childish at best.

Maybe you should stay in the rambling section where the Superior people play...

It always amazes me how someone can call people names but are unwilling to man up.. How they hide behind some screen name... If you would like to express your opinion about me in person that can be arranged, I have keys to an MMA facility... May the best "idiot" win. If not please refrain from calling me or others you do not know names...

Michael

[chunkoftheearth]

Michael Q says: "It always amazes me how someone can call people names but are unwilling to man up.. How they hide behind some screen name... If you would like to express your opinion about me in person that can be arranged, I have keys to an MMA facility"

lol....like I said on a previous post, you make me laugh man...lol.  AhAHA.  NSU, I know you're watching.  What do you think about this reply from Michael?  I'm dying to hear it!  LOL.

[orion2730]

The op himself is a mentor/investor I happen to know him , he is a very good guy and very knowledgeably.

I would love to see a mentor man up though and do a deal my deal split ,  I just don't think anyone of you guys has the guts to do that no offence , if your teaching is so good then you would have nothing to worry about right? lol fat chance I know .

and don't give "well we don't waist my time crap" or my favorite "need some skin in the game"  I am sure with some careful screening you could come up with a good candidate .
 
I have yet to meet anyone who has thrived in any kind of mentoring program , but that's just me , anyway's good luck to you all. 

[MichaelQuarles]

Orion2730

I get it... I never had a mentor... One isn't required... Although when I started economics were different.  I am 48 years young. I remember the day I grabbed a 100k credit line after driving the banker around in my convertible cherry red Porsche showing him houses I owned. I think I was 22 at the time maybe 23... Those days are gone.. Man I feel really young now...

O well... Mentoring isn't for everyone or required... I think the investment is like any other... It serves a purpose. My cherry red Porsche made me feel good and gave me confidence... Not that I am going to make anyone feel good but the confidence issue most definately... And for the cost the value outweighs it...

But need to stop with the commercial or others will chastise me again..

Happy Easter to all...

Michael

[xpandergt]

Sellers who think they are doing me a favor by selling their overpriced house to me.

[tatertot]

[[[.....May the best "idiot" win.....]]]

Wow, MichaelQuarles. You are going to beat up anyone who disagrees with you? If you are stronger and meaner, is that proof positive that you are right, better, smarter?

Get a grip.