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Using
the "Deed Grabbing" Method of Real Estate Investing, Competition Can Be
Your Best Friend
By Maggie Dawson
If you're anything like me, the idea of your competition swooping in and
getting deals away from your prospective clients is one of the worst parts
of running your own business- be it the real estate investing business or
any other business you're involved in. For the consumer, competition is a
great thing- it causes companies to work harder, price their products more
fairly, and try to create a better product than the competition. However,
if you're the one trying to market and sell products, the competition can
force you to work so hard, and whittle your profit margin so low, that
eventually it's no longer worth your time to do business.
Luckily for us, the mortgage foreclosure/tax property investing
business works a little differently than other businesses. The competition
is still alive and kicking, but in many cases it's not a threat to us, and
can even help us in the long run.
No one is offering quite the same "product" as you are in this
business. Yes, we're all trying to get ahold of owners before their homes
are permanently lost, and there are only so many of them. We may even end
up calling the same owners about the same properties. However, each of us
has a different approach, a different personality, and a different
strategy for getting an owner to sell to us. Certain owners will "click"
with you, while others "click" with your competition. Since whether an
owner likes you, or trusts you, is arguably the most important factor in
whether you will sign them up, personality is a huge variable that will
allow almost anyone who makes a good faith attempt at it, to be successful
in this business.
Following along the same vein, having competition actually helps build
trust with potential prospects. They may not trust the first person who
calls them. They may decide to try to sell the property themselves. They
may just be suspicious, and take a few weeks to get used to the idea that
they're really losing their home, and then wham! You call them at the
right time, and get the deal. Luck, timing, and personality play a huge
role in this business.
If that's not enough to convince you to stop viewing your competition
as a threat, how about this? According to Wikipedia, the United States is
comprised of 3,140 counties, or about 62 average per state. Each of those
counties has properties for you to buy, and new tax
delinquencies/foreclosures are being created every month. There are
millions upon millions of dollars waiting for you, and in the current
economic climate, foreclosures are being created even more rapidly.
There's more than enough cash to go around in the real estate investing
business. The sooner you begin to see your competition for the blessing
that it is, the sooner you can focus all your energy on finding properties
and connecting with the owners, and enjoying the fruits of your labor! And
if it's still difficult for you to see the positives of competition, then
allow it affect you positively by getting out of bed a little earlier,
working a little later and harder, and being a little more persistent than
you might have been without it.
Want to learn the realities of tax sale investing? Read this
free report: "Why
Government Tax Sales Probably Aren't For You."
Then learn to
profit from tax sales using a "loophole" discovered after years of
unsuccessful tax sale investing.
M. Dawson is a Chicago area writer, real estate investor, and
entrepreneur.
Article Source:
http://EzineArticles.com/?expert=Maggie_Dawson
http://EzineArticles.com/?Using-the-Deed-Grabbing-Method-of-Real-Estate-Investing,-Competition-Can-Be-Your-Best-Friend&id=2758778
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