Have your heard there is a new real estate investment guru in the marketplace? At night, he has a part time job as a national stand up comedian and without the audience even knowing, he gives them fantastic real estate investment advice. His name is Larry The Cable Guy, and these days he performs to packed audiences purely because of his real estate advice, I am sure. So what is his secret advice to getting good real estate investments? GET 'ER DONE!
In all seriousness, I don't think the Cable Guy is actually giving real estate investment advice but he should. If you will remember his famous "Get 'er done" phrase, it will serve you well in the real estate investment. Early in my real estate investment career, I bought single family houses and then turned around and resold with owner-financing in place. As I was beginning this activity, the HARDEST part was finding good investments on a consistent basis. Why? Because I had no track record and thus nobody would help.
When I approached realtors for help, they would be friendly but rarely brought any good projects. I didn't understand why because I KNEW I was very serious about buying. However, most realtors really doubted that I would buy the houses if they brought them to me. Having been in the real estate investment business for a while now, I certainly don't blame them. What realtors rapidly learn is that 90% of investors will back out when it actually comes time to close. So they do all this work and don't get paid.
But like many things, after you struggle through your first couple of real estate investment deals, then you start to gather a reputation of actually getting deals done. Before long, there was a couple of realtors who figured out I could "Get 'er done" and started to bring me more opportunities than I could handle. This was a HUGE turning point because now people call me, tell me about a real estate investment deal, and ask if interested. All of this required ZERO work from me! Today, I still occasionally pick up houses and primarily use one realtor who knows that if I give her the go ahead to look, then she will get an immediate pay day if she brings something that meets my criterion.
As I got more and more into preconstruction real estate investments, I got another rude awakening. Even though I was serious about finding investments and had decent connections, as a single individual, I was pretty much irrelevant to developers and major brokers with large preconstruction projects. Why? I was buying 1 unit and they might have 400 to sell. While they were happy to get my purchase, they would not go out of their way to find me other good projects and deals.... It was like I had to beg to get in.
Over time, there was a small group of us that formed that had more power but still, had almost no ability to interact with developers and get better real estate investments. As time moved forward, GetPreconstructionDeals.com was formed with the idea that by surrounding ourselves with a group of investors, we could now enjoy some of the perks of being able to "Get 'er done" on a larger scale. Today, with that ability, we get to look at a lot of projects and opportunities that most outside investors never even know about.
This month, we will run a series of articles on take full advantage of investing "with the power of thousands". With a strong group of "Get 'er done" investors, it really becomes amazing at the real estate investment opportunities that arise; and this is true if the real estate market is booming, flat, or declining.
We will also use this article series to introduce a major new feature to GetPreconstructionDeals.com: an real estate investment open forum and "town hall meetings" to help investors group into smaller, more common interest areas. At our web site, we obviously introduce a wide range of projects from preconstruction condos, town homes, mountain and coastal property, condo conversions, international and domestic, etc.
We will be taking steps to help gather "Get 'er done" investors into smaller, real estate investment interest groups with a tight focus on the types of projects they desire. The real advantage for you is that if you are looking for a specific investment type (or even location) and there are others that share your interest, we can then really help these groups find the types of projects meeting their needs. We believe this will be a tremendous benefit to not only investors but developers as well.
So we hope you will join us this month as we really outline the steps for you to achieve your real estate investing goals, regardless of market conditions.