The Savvy Investors:
Can pull the trigger very quickly. The procrastinators are always the same people who say: "I wish I had bought..."
Make educated decisions, not allowing emotion to enter into the equation. The figures either add up, or they don't. ...And unlike stocks and corporations' reports, they are public and accurate. That is quite an advantage!
Understand that there is a money element in time (time is money). Sellers are much more likely to relent on the price, if the time element is there (cash deal, no contingencies, urgent offer, etc).
They Have Their Own People: the Real Estate Professional, the Lender, the Attorney, the Accountant. They pay top dollar for top advice and they are very happy to do it! As long as they make money, their people can make money...
Are Proactive: They ask the right people the right questions. They study the market, they do their homework. They NEVER wait for the media to tell them when to make buying decisions. I can always tell where the market is going by what my savvy investors are doing at the moment. Savvy Investors all move at the same time... eons before "the herds" come around to making buying decisions because the media tells them that "now is the right time to buy"...
Myrtle Beach Real Estate by Mirela Monte Join The Optimist Group!
Thank you Jason! You and I know it from our experience with thse smart people. Let's educate the rest of the folks who work so hard for their money, only to lose their shirts because they listen to the media...
Thank you Vickie! I love that name!
So true Mirela. When we have a buyers or sellers market is all guided by "herd mentalities". Good informative post.
Those are great things to know and use. I know that I have personally gotten caught up in the emotional attachment of a purchase before and that makes it difficult when the sale doesn't go through for whatever reason!
Ross,
It's really easy to get that "Recent Readers" on your blog. Just click below and follow the instructions and paste it on your blog. If you need further directions, just e-mail, or call me. It's a snap.
http://www.mybloglog.com/
Yes, indeed Jim! Thanks for your contribution!
"They NEVER wait for the media to tell them when to make buying decisions. "
The above is the most important item in your blog. If people would stop following and start thinking for themselves (how about now?) and realize the pundits cannot predict anything.
Great piece.
I can definitely use 4 out of the 5 items in your blog to qualify my own people. I will start asking them questions to determine if they are savvy enough to save themselves. I can only help, I can't DO.
Thanks Mirela for this eye-opening post that will help me save time. I have a particular client in mind right now!
Mirela, this post is so true. I've noticed some of the same qualities in my successful clients.
Such a great post about taking the initiative and not following the leader. Like I always tell my boys - Be a leader, NOT a follower!
~Renae - Market 4 Real!
Renae,
...or as I always say: "Today's heresy is tomorrow's dogma..."
Spread the word!
Thank you Latonia!
I don't know what you mean by: "I need to find one to monitor".
Today confirmed this yet again!
The past few weeks proved to me yet again the value of #1...
I'm taking this one out of retirement.
Very cute and so true! I love the pic of the cats! It really brings the meaning of the post to life and easily relate to. :)
Thank you Naoma!
Mirela,
You are right on! They also live in the NOW. Not that they don't learn from history or from their mistakes, but they DON'T REGRET: once they've made a decision, they move on.
Marzena: That is such a good comment: "once they've made a decision, they move on"!
Thank you Marzena (You're an "m&m" also)!
I love the cats!
Darin: Me too! Thank you!
Mirela:
Having the investment team is key. Don't forget that they have a trusted qualified intermediary (accommodator) to assist them with their 1031 exchanges. :-) Sorry, I just couldn't resist.
Lisa
Understand that there is a money element in time (time is money). Sellers are much more likely to relent on the price, if the time element is there (cash deal, no contingencies, urgent offer, etc).
Hi Mirela,
I've had three agents report an increase in their number of cash buyers recently. This is from two agents here in CA and one in NC. Have you noticed this trend in your area?
Respectfully,
Bruce
Most of my oceanfront deals have been cash; it's difficult financing those nowadays. Out of my four transactions last week, three were for cash. All of them were oceanfront.