You Don’t Inherit Real Estate Investing Genetics

In some ways all of the TV flipping and investing shows and travelling seminars are helping to bring new people into real estate investing. But, in other ways I think they’re keeping some people out. By their very nature, TV gurus and seminar instructors are usually somewhat or very charismatic and outgoing. They need that for the instructional and TV stuff.

When it comes to the nuts and bolts of real estate investing and the different niche strategies, you don’t really need to be charismatic at all. You don’t have to be a “personality.” In fact, you can be shy or even introverted and get the job done just fine. Let’s look at the people involved in the strategy niches and how the non-power people can work with them just fine.

Other Investor Buyers

Wholesaling and a lot of fix & flip investing is done with a buyer on the tail end who is a rental property investor or a fix & flip person. They’re knowledgeable and know how to “run the numbers” and do their due diligence to set up their deals for profits.

They do not need sales pitches or high-powered approaches. All you need to do is prove you know what they know, what they want, and that you can deliver properties that will get them to their investment goals. They don’t care how you convince them you know what you’re doing. The best way is to approach them with a deal that they know shows you did your homework.

Retail Buyers

This one is very short and sweet: use a real estate agent and list the home. They’ll do the hand-holding and selling stuff. Sure, if you want to in order to save commissions, then go for it. Just know that the vast majority of homes purchased by everyday consumers are bought through real estate agents and the local MLS, Multiple Listing Service.

Lender Foreclosures

Lenders use asset managers and list their foreclosures through real estate agents mostly. They don’t even want to talk to you anyway. They want their agent to get them offers on their preferred paperwork and to get rid of the property. You’re simply telling the agent what you want to offer and any other terms that apply. Easy, no personality needed.

Distressed Home Sellers

If you’re buying from a homeowner who is in a spot and needs to sell, you’ll run the numbers and know what you’re able to pay. You’re not there to give them a pitch and convince them that you’re the only chance they have. You are in business and you just may be able to help them to get rid of the house tied around their neck. Come across as business-like, and if your offered price won’t work for them, thank them and leave unless there is another way to get the deal done. Either way, it’s not a hard-sell.

You’re the Rental Home Buyer

No matter who is trying to sell you a ready rental property, investor or homeowner, you should have run the numbers, done your due diligence about rents you can charge, and you’ll know if the deal will work for you or not. If their offered price is too high, a simple counter offer is all that is necessary. You’re not going to be trying to talk them into anything. You’re in business, so be business-like.

There you have it. Be introverted, shy or just plain anti-social and it shouldn’t matter. Sure, charming people may get you a little more business, but do not shy away from real estate investing based on your personality.

Source: huffingtonpost.com